Respondents provide BSEE with information that lets BSEE decide whether the granting of a royalty relief request will result in the ultimate production of resources that would not be produced without relief. The application must contain sufficient financial, economic, reservoir, geologic and geophysical, production and engineering information to determine whether the decision to grant relief will result in ultimate increase in resource recovery, augment receipts to the Federal Treasury, and provide for reasonable returns on project investments.
The currently approved annual hour burden is 2,635 hours. This submission requests 2,329 hours. The difference is an adjustment decrease of 306 hours as a result of re-estimating the amount of time required to respond and lowering the response, for the most part, to once every 3 years. The currently approved cost burden is $122,024. This submission requests $117,441 representing an adjustment decrease of $4,583 resulting from re-estimating the annual number of applications/responses (we are receiving far fewer applications than originally expected) and associated costs (application/audit fees and fewer CPA certification reports). Based on recent and expected oil and gas prices, we foresee less need for and use of the royalty relief program over the next several years.
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.