GroundRules
30 CFR 556.704: When may BOEM disapprove an assignment or sublease of an interest in my lease?
Where this section sits in the code
- Title 30—Mineral Resources
- CHAPTER V—BUREAU OF OCEAN ENERGY MANAGEMENT, DEPARTMENT OF THE INTERIOR
- SUBCHAPTER B—OFFSHORE
- PART 556—LEASING OF SULFUR OR OIL AND GAS AND FINANCIAL ASSURANCE REQUIREMENTS IN THE OUTER CONTINENTAL SHELF
- Subpart G—Transferring All or Part of the Record Title Interest in a Lease
(a) BOEM may disapprove an assignment or sublease of all or part of your lease interest(s):
(1) When the transferor, transferee, or sublessee is not in compliance with all applicable regulations and orders, including financial assurance requirements;
(2) When a transferor attempts a transfer that is not acceptable as to form or content (e.g., not on standard form, containing incorrect legal description, not executed by a person authorized to bind the corporation, transferee does not meet the requirements of § 556.401); or
(3) When the transfer does not conform to these regulations, or any other applicable laws or regulations (e.g., departmental debarment rules).
(b) A transfer will be void if it is made pursuant to any prelease agreement that would cause a bid to be disqualified, such as those described in § 556.511(c), (d), or (e).
Collected 2026-08-27T02:25:24Z. Source file · JSON