43 CFR 3214.19 - What are my bonding requirements when a lease interest is transferred to me?

Regulations last checked for updates: Oct 18, 2024

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

View all text of Subpart 3214 [§ 3214.10 - § 3214.22]

§ 3214.19 - What are my bonding requirements when a lease interest is transferred to me?

(a) Except as otherwise provided in this section, if the lands to be transferred to you contain a well or any other surface disturbance which the original lessee did not reclaim, you must post a bond under this subpart before BLM will approve the transfer.

(b) If the original lessee does not transfer all interest in the lease to you, you may become a co-principal on the original bond, rather than posting a new bond.

(1) You previously furnished a statewide or nationwide bond sufficient to cover the lands transferred; or

(2) The operator provided the original bond, and the operator does not change.

authority: 30 U.S.C. 1001-1028; 43 U.S.C. 1701

source: 72 FR 24400, May 2, 2007, unless otherwise noted.

cite as: 43 CFR 3214.19