TITLE 62: MINING
CHAPTER I: DEPARTMENT OF NATURAL RESOURCES
PART 240 THE ILLINOIS OIL AND GAS ACT
SECTION 240.1440 RESPONSIBILITIES OF NEW PERMITTEE


 

Section 240.1440  Responsibilities of New Permittee

 

Prior to the Department giving effect to the transfer, the new permittee shall:

 

a)         Confirm with the Department and the current permittee the acceptance of the transfer or sale on a form prescribed by the Department.  The form shall include an Ownership Certification Statement as defined in Section 240.1400.  A form shall be completed for each lease, well or unit assigned, transferred or sold.  The notification of acceptance shall be signed, under penalty of perjury, by the new permittee or the permittee's authorized representatives.

 

b)         pay the required non-refundable transfer fee as follows:  A fee of $50 per well shall be paid by the new owner for each transfer of well ownership [225 ILCS 725/14];

 

c)         provide the required bond, if applicable, in accordance with Subpart O;

 

d)         if a corporation, provide evidence that the corporation is incorporated or authorized to do business in the State of Illinois, and authorized under its charter to engage in the permitted activity;

 

e)         if an individual, partnership or other unincorporated entity that is not a resident of Illinois provides an irrevocable consent to be sued in Illinois;

 

f)         if issued, submit an FEIN number;

                                               

g)         if the transfer request is for a PRF well, the new permittee shall comply with Section 240.1465.

 

(Source:  Amended at 42 Ill. Reg. 5811, effective March 14, 2018)