43 CFR 3137.60 Acceptable bonding (regulations)

WAIS Document Retrieval[Code of Federal Regulations]
[Title 43, Volume 2]
[Revised as of October 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 43CFR3137.60]

[Page 400]

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 3137_Unitization Agreements_National Petroleum Reserve-Alaska

Sec. 3137.60 As the unit operator, what are my obligations?

As the unit operator--
(a) You must comply with the terms and conditions of the unit
agreement, Federal laws and regulations, lease terms and stipulations,
and BLM notices and orders;
(b) You must provide to BLM evidence of acceptable bonding.
Acceptable bonding means a bond in an amount which is no less than the
sum of the individual Federal bonding requirements for each of the NPR-A
leases committed to the unit. You may also meet this requirement if you
add the unit operator as a principal to lease bonds to reach the
required amount; and
(c) The bond must be payable to the Secretary of the Interior.