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Transferring Oil And Gas Lease Interests - Bureau Of Land: What You Should Know

If the transferor does not retain the lands or rights the BLM will not perform the lease transfer in accordance with the terms of the lease. The leases can be transferred from the Federal Government to the public or a state or federal agency.  § 2615.4 — Transfers of Subleasing Interests A person who has acquired land under a lease that is subject to a mass transfer, in lieu of transferring ownership in full, may, instead, be allowed to transfer all the rights, to lease in return for a cash consideration in excess of the outstanding amount of the lease. This method of obtaining land is known as a subleasing transfer. A subleasing transfer will be considered a sale under the Federal Land Policy and Management Act of 1976 (FL PMA; P.L. 92­631; 93 Stat. 487, 487a; 28 U.S.C. 2201­2209). This means that if the Federal Government intends to continue to have rights to and interests in such land after the subleasing transfer, it is necessary for the land to be released in accordance with law before an oil and gas lease may be transferred to anyone except the State in which the property was placed under the original lease.  § 2615.5 — Transfers of Operating Rights — Gas leases — General procedures Section 2615.5 provides a procedure generally applicable only to gas leases that gives all operations rights to parties that are qualified (i.e., are registered with the BLM), to be sold for cash as a subleasing transfer, and only to gas leases subject to a mass transfer. The procedure provides for the sale of operating interests prior to and during construction, drilling, production or other operations on the leased lands. For example, when drilling, the selling party can convey all the mineral rights. As long as the selling party keeps the mineral rights of the leasing party, it can convey them through a subleasing transfer when it is ready for completion. § 2615.5.1—Exceptions (a) Except for the terms and conditions of an original lease, an operating lease or an operating rights transfer may not have any terms or conditions inconsistent with, or adverse to, any other term or condition of the original lease. For this purpose, an operating rights transfer does not allow a party to obtain oil and gas rights and a party cannot be entitled to an operating rights transfer.

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