Royalty relief reform

(a) Gulf of mexico royalty relief (1) Repeal Section 344 of the Energy Policy Act of 2005 (42 U.S.C. 15904) is repealed. (2) Regulations Any regulations issued under section 344 of the Energy Policy Act of 2005 before the date of enactment of this section shall have no force or effect. (b) Alaska royalty relief (1) Provisions relating to planning areas offshore alaska Section 8(a)(3)(B) of the Outer Continental Shelf Lands Act (43 U.S.C. 1337(a)(3)(B)) is amended by striking and in the Planning Areas offshore Alaska after West longitude. (2) Provisions relating to naval petroleum reserve in alaska The Naval Petroleum Reserves Production Act of 1976 is amended— (A) in section 104(a) (42 U.S.C. 6504(a)) by striking to the extent consistent with the requirements of this Act for the exploration of the reserve; and (B) in section 107 (42 U.S.C. 6506a)— (i) in subsection (i)— (I) by striking (1) In general.—; and (II) by striking paragraphs (2) through (6); (ii) by striking subsection (k); and (iii) by redesignating subsections (l) through (p) as subsections (k) through (o), respectively. (c) Royalty relief report Not later than 90 days after the date of enactment of this Act, and annually thereafter, the Director of the Bureau of Land Management and the Director of the Bureau of Ocean Energy Management shall submit to the Committee on Natural Resources of the House of Representatives and the Committee on Energy and Natural Resources of the Senate a report detailing, with respect to the preceding year— (1) the number of onshore and offshore oil and gas royalty relief applicants; (2) the number of onshore and offshore oil and gas royalty relief applications approved or denied and any reasoning provided by the agency for approvals; (3) the number of wells approved and denied for royalty relief; (4) the number of wells approved for royalty relief that produced oil or gas during the period of 6 months beginning on the date on which an application for royalty relief for the well was made; (5) the average amount of production from wells for which royalty relief was approved; (6) the length of royalty relief periods; (7) the new royalty rate for approved applications; and (8) any estimates of the difference in revenue and production resulting from the approved royalty relief.