43 CFR 3162.2-8 - Does my responsibility for drainage protection end when I assign or transfer my lease interest?

Regulations last checked for updates: Oct 19, 2024

Title 43 - Public Lands: Interior last revised: Sep 06, 2024

View all text of Subpart 3162 [§ 3162.1 - § 3162.7-4]

§ 3162.2-8 - Does my responsibility for drainage protection end when I assign or transfer my lease interest?

If you assign your record title interest in a lease or transfer your operating rights, you are not liable for drainage that occurs after the date we approve the assignment or transfer. However, you remain responsible for the payment of compensatory royalties for any drainage that occurred when you held the lease interest.

[66 FR 1893, Jan. 10, 2001]

authority: 25 U.S.C. 396d and 2107; 30 U.S.C. 189,306,359,and; 43 U.S.C. 1732(b), 1733, 1740; and Sec. 107, Pub. L. 114-74, 129 Stat. 599, unless otherwise noted

source: 47 FR 47765, Oct. 27, 1982, unless otherwise noted. Redesignated at 48 FR 36583, Aug. 12, 1983.

cite as: 43 CFR 3162.2-8