TITLE 62: MINING
CHAPTER I: DEPARTMENT OF NATURAL RESOURCES
PART 240 THE ILLINOIS OIL AND GAS ACT
SECTION 240.1420 NOTIFICATION OF TRANSFER
Section 240.1420 Notification of Transfer
a) The current permittee shall provide notification to the Department and new permittee, on a form prescribed by the Department, of the assignment, transfer or sale of any permitted well or any well required to be permitted under the Act within 30 days after the effective date of the assignment, transfer or sale.
b) The wells listed in the notification of transfer request will be placed on the new permittee's well list after Departmental review and confirmation. The new permittee shall not operate wells covered by the notification of transfer until all conditions in Section 240.1440 are met and the transfer request is approved by the Department.
(Source: Amended at 42 Ill. Reg. 5811, effective March 14, 2018)