S.2922: A bill to repeal certain oil and gas incentives established in the Energy Policy Act of 2005, and for other purposes.

Amends the Energy Policy Act of 2005 to repeal: (1) royalty incentives for natural gas production from ultra-deep and deep wells in the shallow waters of the Gulf of Mexico; and (2) royalty relief for deep water production in the Western and Central Planning Area of the Gulf of Mexico.