MMS is requested
to submit a change worksheet to reduce the number of hours in this
collection to 1 until the final rule is promulgated.
Inventory as of this Action
Requested
Previously Approved
10/31/2006
10/31/2006
40
0
0
1,608
0
0
0
0
0
Market valueis a basic principle
underlying royalty valuation. Therefore, MMS has developed revised
methods to capture the true market value of crude oil produced from
Federal leases, both onshore and offshore. The regulations at 30
CFR Part 206, Subpart C, requre companies to collect and/or submit
information used to value their Federal oil. MMS uses the
information collected to ensure that proper royalty is paid on oil
produced from Federal onshore and offshore leases.
On behalf of this Federal agency, I certify that
the collection of information encompassed by this request complies
with 5 CFR 1320.9 and the related provisions of 5 CFR
1320.8(b)(3).
The following is a summary of the topics, regarding
the proposed collection of information, that the certification
covers:
(i) Why the information is being collected;
(ii) Use of information;
(iii) Burden estimate;
(iv) Nature of response (voluntary, required for a
benefit, or mandatory);
(v) Nature and extent of confidentiality; and
(vi) Need to display currently valid OMB control
number;
If you are unable to certify compliance with any of
these provisions, identify the item by leaving the box unchecked
and explain the reason in the Supporting Statement.