Federal Register #10120009

ONRR Seeks Comment on Renewal of OCS Net Profit Share Payment Reporting Requirements

This notice from the Office of Natural Resources Revenue (ONRR), under the Department of the Interior, seeks public comment on the renewal of an information collection related to net profit share payments for Outer Continental Shelf (OCS) oil and gas leases. - Government Buyer: - Department of the Interior - Office of Natural Resources Revenue (ONRR) - Purpose: - Renewal of an information collection request (ICR) for regulatory reporting under 30 CFR Part 1220 - Requirements for OCS Leaseholders: - Maintain capital accounts - File annual and monthly reports on production revenues and costs - Conduct inventories of equipment and supplies - Allow audits of records related to net profit share leases - No procurement of products or services is involved - No OEMs, vendors, part numbers, or purchase quantities are specified - Mandatory for businesses holding OCS net profit share leases - Ensures accurate and timely reporting of payments due to the United States

Description

The Office of Natural Resources Revenue (ONRR) is proposing to renew an information collection request (ICR) to continue collecting data necessary to determine net profit share payments due to the United States from Outer Continental Shelf (OCS) oil and gas leases. This collection involves maintaining capital accounts, filing reports on production revenues and costs, conducting inventories of equipment and supplies, and allowing audits of records related to net profit share leases. The renewal aims to ensure accurate and timely reporting of payments under 30 CFR part 1220. Comments on this renewal are requested by October 13, 2026.

View original listing