Oklahoma § 52-605 - Exempted transfers

§ 52-605. Exempted transfers

The following transfers are exempted from the provisions of this

act:

Oklahoma Statutes - Title 52. Oil and Gas

1. Transfers in the ordinary course of business. For the

purposes of this act, transfers in the ordinary course of business

shall include but not be limited to:

a.

the granting of a lease to explore and produce an

energy resource asset,

b.

the assignment of a lease or leases to explore and

produce an energy resource asset by or to a person

engaged in the business of buying and selling such

leases,

c.

the sale by a natural person of fee mineral rights,

d.

the transfer by conveyance or decree pursuant to a

private trust, gift, will, or intestate succession,

e.

any transfer pursuant to a compulsory pooling order

of the Commission,

f.

any transfer of hydrocarbons pursuant to a contract

for the purchase, sale, or delivery of such

hydrocarbons at or beyond the wellhead or other point

of production,

g.

the transfer, sale, condemnation or conveyance of

surface use rights for the purposes of ingress,

egress, easement and right-of-ways, and

h.

sales in the ordinary course of business of pipeline

equipment, oil and gas equipment and mineral

equipment as defined in Section 371 of Title 52 of

the Oklahoma Statutes;

2. The granting or assignment of a mortgage, security interest

or other contractual lien in an energy resource asset as security

for an indebtedness or the foreclosure, enforcement or realization

thereof;

3. The granting or assignment of a royalty interest,

overriding royalty interest, production payment, or other nonworking

interest form of right to receive hydrocarbon production, or

proceeds therefrom;

4. A transfer, as defined in subparagraph b of paragraph 4 of

Section 3 of this act, where, after giving effect to the proposed

transfer, the transferee would beneficially own less than ten

percent (10%) of the ownership interest in the transferor;

5. A transfer, as defined in subparagraph a of paragraph 4 of

Section 3 of this act, where the value of the energy resource assets

at date of transfer is less than Seventy-five Million Dollars

($75,000,000.00);

6. A transfer, as defined in subparagraph b of paragraph 4 of

Section 3 of this act, where the value at date of transfer of the

energy resource assets owned by the transferor is less than Seventyfive Million Dollars ($75,000,000.00);

Oklahoma Statutes - Title 52. Oil and Gas

7. A transfer of a "domestic public utility" or an ownership

interest in a "domestic public utility", as defined in Section 191.1

of Title 17 of the Oklahoma Statutes; and

8. Any other exemptions as may be granted pursuant to the

rules, regulations and orders of the Commission reasonably

prescribed in the furtherance of this act.

Added by Laws 1985, c. 2, § 5, emerg. eff. Feb. 13, 1985.