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43 CFR 3104.2 : Public Lands: Interior (§ 1.1 To Parts 10011-10099) — (Parts 1000-1599 To Parts 10011-10099) — Regulations Relating To Public Lands (Continued) (Parts 1000-1599 To Parts 10011-10099) — Bureau Of Land Management, Department Of The Interior (Parts 1000-1599 To Parts 9261-9999) — Minerals Management (3000) (§ 3000.0-5 To § 3936.40) — Oil And Gas Leasing (§ 3100.0-3 To § 3109.3) — Bonds (§ 3104.1 To § 3104.8) — Lease bond.

4 Aug 2016

A lease bond may be posted by a lessee, owner of operating rights (sublessee), or operator in an amount of not less than $10,000 for each lease conditioned upon compliance with all of the terms of the lease. Where 2 or more principals have interests in different formations or portions of the lease, separate bonds may be posted. The operator on the ground shall be covered by a bond in his/her own name as principal, or a bond in the name of the lessee or sublessee, provided that a consent of the surety, or the obligor in the case of a personal bond, to include the operator under the coverage of the bond is furnished to the Bureau office maintaining the bond.

43 CFR 3104.2
[53 FR 22839, June 17, 1988]