Source: https://www.federalregister.gov/documents/2007/10/02/E7-19379/agency-information-collection-activities-proposed-collection-comment-request
Timestamp: 2018-02-25 04:29:33
Document Index: 727096644

Matched Legal Cases: ['art 220', '§\u2009220', '§\u2009220', '§\u2009220', '§\u2009220', '§\u2009220', 'art 220', '§\u2009260', '§\u2009220', '§\u2009220']

Submit written comments on or before December 3, 2007.
https://www.federalregister.gov/d/E7-19379 https://www.federalregister.gov/d/E7-19379
Notice of an extension of a currently approved information Start Printed Page 56091collection (OMB Control Number 1010-0073).
To comply with the Paperwork Reduction Act of 1995 (PRA), we are inviting comments on a collection of information that we will submit to the Office of Management and Budget (OMB) for review and approval. The previous title of this ICR was “30 CFR Part 220—Accounting Procedures for Determining Net Profit Share Payment for Outer Continental Shelf Oil and Gas Leases, § 220.010 NPSL capital account, § 220.030 Maintenance of records, § 220.031 Reporting and payment requirements, § 220.032 Inventories, and § 220.033 Audits.” The new title of this ICR is “30 CFR 220-OCS Net Profit Share Payment Reporting.” There are no forms associated with this information collection.
Title: 30 CFR Part 220—OCS Net Profit Share Payment Reporting.
Applicable law citations pertaining to mineral leases include the Federal Oil and Gas Royalty Management Act of 1982 (Pub. L. 97-451—Jan. 12, 1983); Outer Continental Shelf Lands Act of 1953 (43 U.S.C. 1353; Pub. L. 212—Aug. 7, 1953, as amended by Pub. L. 93-627—Jan. 3, 1975, Pub. L. 95-372—Sept. 18, 1978, and Pub. L. 98-498—Oct. 19, 1984); and the Mineral Leasing Act (30 U.S.C. 1923). These citations can be viewed on our Web site at ­http://www.mrm.mms.gov/​Laws_​R_​D/​PublicLawsAMR.htm.
When a company or an individual enters into a lease to explore, develop, produce, and dispose of minerals from Federal or Indian lands, that company or individual agrees to pay the lessor a share of the value received from production from the leased lands. The lease creates a business relationship between the lessor and the lessee. The lessee is required to report various kinds of information to the lessor relative to the disposition of the leased minerals. Such information is similar to data reported to private and public mineral interest owners and is generally available within the records of the lessee or others involved in developing, transporting, processing, purchasing, or selling of such minerals. The information collected includes data necessary to ensure royalties or net profit share payments are properly valued and appropriately paid.
To encourage exploration and development of oil and gas leases on submerged Federal lands on the Outer Continental Shelf (OCS), regulations were promulgated at 30 CFR 260—Outer Continental Shelf Oil and Gas Leasing. Specific implementation regulations for the NPSL bidding system are promulgated at § 260.110(d). The MMS established the NPSL bidding system to balance a fair market return to the Federal Government for the lease of its public lands with a fair profit to companies risking their investment capital. The system provides an incentive for early and expeditious exploration and development and provides for sharing the risks by the lessee and the Federal Government. The NPSL bidding system incorporates a fixed capital recovery system as a means through which the lessee recovers costs of exploration and development from production revenues, along with a reasonable return on investment.
The NPSL lessees must notify MMS of their intent to perform an inventory and file a report after each inventory of controllable material.
All six lessees report monthly because all current NPSLs are in producing status. Because the requirements for establishment of capital accounts at § 220.010(a) and capital account annual reporting at § 220.031(a) are necessary only during non-producing status of a lease, we included only one response annually for these requirements, in case a new NPSL is established. We have not included in our estimates certain requirements performed in the normal course of business, which are Start Printed Page 56092considered usual and customary. The following chart shows the estimated annual burden hours by CFR section and paragraph.
220.031(b) (b) Beginning with the first month in which production revenues are credited to the NPSL capital account, each lessee * * * shall file a report for each NPSL, not later than 60 days following the end of each month * * * 13 72 936
220.033(b)(2) (b)(2) If DOI determines to call for an audit, DOI shall notify the lessee of its audit call and set a time and place for the audit * * * The lessee shall send copies of the notice to the nonoperators on the lease * * * 2 6 12
Comments: Before submitting an ICR to OMB, PRA Section 3506(c)(2)(A) requires each agency “* * * to provide notice * * * and otherwise consult with members of the public and affected agencies concerning each proposed collection of information * * *.” Agencies must specifically solicit comments to: (a) Evaluate whether the proposed collection of information is necessary for the agency to perform its duties, including whether the information is useful; (b) evaluate the accuracy of the agency's estimate of the burden of the proposed collection of information; (c) enhance the quality, usefulness, and clarity of the information to be collected; and (d) Start Printed Page 56093minimize the burden on the respondents, including the use of automated collection techniques or other forms of information technology.
Public Comment Policy: We will post all comments in response to this notice on our Web site at http://www.mrm.mms.gov/​Laws_​R_​D/​FRNotices/​FRInfColl.htm. We will also make copies of the comments available for public review, including names and addresses of respondents, during regular business hours at our offices in Lakewood, Colorado. Before including your address, phone number, e-mail address, or other personal identifying information in your comment, you should be aware that your entire comment—including your personal identifying information—may be made publicly available at any time. While you can ask us in your comment to withhold your personal identifying information from public review, we cannot guarantee that we will be able to do so.
[FR Doc. E7-19379 Filed 10-1-07; 8:45 am]