[Federal Register Volume 80, Number 30 (Friday, February 13, 2015)]
[Proposed Rules]
[Page 7994]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2015-02997]
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DEPARTMENT OF THE INTERIOR
Office of Natural Resources Revenue
30 CFR Parts 1202 and 1206
[Docket No. ONRR-2012-0004; DS63610000 DR2PS0000.CH7000 156D0102R2]
RIN 1012-AA13
Consolidated Federal Oil & Gas and Federal & Indian Coal
Valuation Reform
AGENCY: Office of Natural Resources Revenue, Interior.
ACTION: Proposed rule; notice of extension of comment period.
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SUMMARY: The Office of Natural Resources Revenue (ONRR) published a
notice of proposed rulemaking in the Federal Register on January 6,
2015, (80 FR 608). ONRR invited the public to submit written comments
by March 9, 2015. ONRR is granting a 60-day extension to the comment
period in response to stakeholder requests.
DATES: You must submit comments on or before May 8, 2015.
ADDRESSES: You may submit comments to ONRR on the proposed rulemaking,
as follows: (1) Electronically go to www.regulations.gov and enter
``ONRR-2012-0004'' in ``Enter Keyword or ID,'' then click ``Search;''
(2) mail comments to Armand Southall, Regulatory Specialist, P.O. Box
25165, MS 61030A, Denver, Colorado 80225; or (3) hand-carry comments,
or use an overnight courier service, to ONRR, Building 85, Room A-614,
Denver Federal Center, West 6th Ave. and Kipling St., Denver, Colorado
80225. Please refer to the Regulation Identifier Number (RIN) 1012-AA13
in your comments. ONRR will post all comments.
FOR FURTHER INFORMATION CONTACT: Armand Southall, ONRR, telephone (303)
231-3221 or email [email protected].
SUPPLEMENTARY INFORMATION: The current Federal oil valuation
regulations have been in effect since 2000, with a subsequent amendment
relating, primarily, to the use of index pricing in some circumstances.
The current Federal gas valuation regulations have been in effect since
March 1, 1988, with various subsequent amendments relating, primarily,
to the transportation allowance provisions. The current Federal and
Indian coal valuation regulations have been in effect since March 1,
1989, with minor subsequent amendments relating, primarily, to the
Federal black lung excise taxes, abandoned mine lands fees, State and
local severance taxes, and washing and transportation allowance
provisions. In the years since we wrote these regulations, the
Secretary of the Interior's (Secretary) responsibility to determine the
royalty value of minerals produced has not changed, but the industry
and marketplace have changed dramatically. ONRR proposes these
amendments to our valuation regulations to permit the Secretary to
discharge the Department of the Interior's (Department) royalty
valuation responsibility in an environment of continuing and
accelerating change in the industry and in the marketplace. The
Secretary's responsibilities regarding oil and gas production from
Federal leases and coal production from Federal and Indian leases
require the development of flexible valuation methodologies that
lessees can accurately comply with in a timely manner.
To increase the effectiveness and efficiency of our rules, ONRR is
proposing proactive and innovative changes. We intend for this proposed
rulemaking to provide regulations that (1) offer greater simplicity,
certainty, clarity, and consistency in product valuation for mineral
lessees and mineral revenue recipients; (2) are more understandable;
(3) decrease industry's cost of compliance and ONRR's cost to ensure
industry compliance; and (4) provide early certainty to industry and to
ONRR that companies have paid every dollar due. Therefore, ONRR
proposes to amend the current regulations at 30 CFR part 1202, subpart
F, and part 1206, subparts C, D, F, and J, governing the valuation, for
royalty purposes, of oil, gas, and coal produced from Federal leases
and coal produced from Indian leases.
ONRR received requests for an extension to the comment deadline for
this proposed rule. This action extends the comment period until May 8,
2015. ONRR believes that this extension allows adequate time for
interested parties to submit comments. ONRR will review and carefully
consider all comments that we receive on the proposed rule.
Dated: February 6, 2015.
Gregory J. Gould,
Director, Office of Natural Resources Revenue.
[FR Doc. 2015-02997 Filed 2-12-15; 8:45 am]
BILLING CODE 4335-30-P