[Code of Federal Regulations]

[Title 43, Volume 2]

[Revised as of October 1, 2006]

From the U.S. Government Printing Office via GPO Access

[CITE: 43CFR3135.1-4]



[Page 392]

 

                    TITLE 43--PUBLIC LANDS: INTERIOR

 

    CHAPTER II--BUREAU OF LAND MANAGEMENT, DEPARTMENT OF THE INTERIOR

 

PART 3130_OIL AND GAS LEASING: NATIONAL PETROLEUM RESERVE, ALASKA

--Table of Contents

 

   Subpart 3135_Transfers, Extensions, Consolidations, and Suspensions

 

Sec.  3135.1-4  Effect of transfer of a tract.



    (a) When a transfer is made of all the record title to a portion of 

the acreage in a lease, the transferred and retained portions are 

divided into separate and distinct leases. Transfers shall not be made 

for less than a compact tract of not less than 640 acres nor shall less 

than a compact tract of not less than 640 acres be retained.

    (b) Each segregated lease shall continue in full force and effect 

for the primary term of the original lease and so long thereafter as oil 

or gas is produced in paying quantities from that segregated portion of 

the lease area or so long as drilling or well reworking operations, 

either actual or constructive, as approved by the Secretary, are 

conducted thereon.



[46 FR 55497, Nov. 9, 1981, as amended at 53 FR 17359, May 16, 1988]