30 CFR 256 - subpart J - Forms MMS-150 & MMS-151 - Assignment of Record Title/Operating Rights Interest in Federal OCS O&G Lease

INSTRUCTIONS FOR BOEMRE FORM MMS-151

ASSIGNMENT OF OPERATING RIGHTS INTEREST IN FEDERAL OCS OIL AND GAS LEASE

1. Form must be typed.

2. Lease number must be typed exactly as it appears on the lease instrument.

3. Lease effective date may be typed using either of the following formats: Month, Day, Year or MM/DD/YY (e.g. December 13, 1989 or 12/13/89).

4. Fill in the complete legal description of the OCS oil and gas lease or the officially designated subdivision of the lease being assigned. The description must be accurate, list all of the lease or a portion of the lease (any officially designated subdivision of the lease) being assigned in aliquot parts (e.g., a half (½), a quarter (¼), a quarter of a quarter (¼ ¼), or a quarter of a quarter of a quarter (¼ ¼ ¼)).

5. A maximum of two vertical depth subdivisions are allowed, shallow and deep. The shallow and deep subdivisions must be contiguous. All new operating rights subdivisions must have a defined beginning and ending depth, e.g. 0 – 10,000 feet TVD and 10,000 feet TVD – 20,000 feet TVD. All new operating rights subdivision depth descriptions must cover only the depth and not make reference to measured depths, stratigraphic equivalents, or information recited from a well log; such information may be included in the instrument of transfer and attached as Exhibit “A.”

6. Names of each assignor and assignee, followed by their qualification numbers must be entered both on page 1 of the form and in the signature blocks on page 2 of the form. All assignor and assignee names, signatory names, and signatory titles must appear exactly as reflected in the qualification documents on file with the BOEMRE (including case and punctuation). No variations or abbreviations are accepted.

7. Enter the interest assigned and received expressed as a percentage of total interest in the lease. Undivided interests in a lease or officially designated subdivision of a lease may be expressed in decimals using a maximum of five places, e.g. 40.12345 percent. All interest being assigned must equal all interest being received.

8. Two properly signed originals of this form must be submitted to the BOEMRE, together with a transmittal letter (cover letter), Pay.Gov receipt evidencing payment of the required service fee, and associated forms such as Designation of Operator forms, Oil Spill Financial Responsibility forms, and General and/or Supplemental Bond forms, if applicable. The transmittal letter must be executed on behalf of one of the parties to the assignment or a third party if the third party provides a letter of authorization.

9. The assignment form must be filed with the appropriate OCS office of the BOEMRE within ninety (90) days after the last date of execution by an assignor or an assignee.

10. Assignment forms may be filed in counterparts; however, all counterparts must be filed simultaneously or the assignment will not be accepted.

11. Include other provisions between assignor(s) and assignee(s) as Exhibit “A” and attach to the assignment.

12. Any party executing this form, at its discretion, may attach witnesses, notary acknowledgements, and/or the corporate seal, but it is not mandatory or required by BOEMRE for this form.

13. This form may be duplicated by means of word processing software, but any duplicate that differs from the approved form, will be deemed to include any omitted language as if it were the original form.

(mo/year)