BOEM advances third Gulf offshore lease sale

Photo Credit: BOEM

The Bureau of Ocean Energy Management (BOEM) today issued the Final Notice of Sale for Lease Sale Big Beautiful Gulf 3 (BBG3), the third of 30 Gulf of America lease sales required by the One Big Beautiful Bill Act.

“BBG3 demonstrates our continued commitment to executing a predictable offshore leasing schedule for the Gulf of America,” said BOEM Acting Director Matt Giacona. “This third Congressionally directed sale builds on the momentum of the first two sales and supports responsible development of America’s offshore energy resources, continued investment in the U.S. Outer Continental Shelf, and American energy independence.”

The Final Notice of Sale is scheduled to publish in the Federal Register on July 8 initiating a 30-day waiting period before the lease sale. The bureau will livestream the public bid reading August 12 at 9 a.m. Central Time.

The bid reading venue will be closed to the public, but registered bidders may attend in person, per BOEM instructions.

Lease Sale BBG3 plans to approximately 15,100 unleased blocks, covering roughly 80.4 million acres on the U.S. Outer Continental Shelf in the Gulf of America. The blocks are located between 3 miles and 231 miles offshore and include water depths ranging from 9 feet to more than 11,100 feet.

More information, including the Final Notice of Sale package and a detailed map of the proposed lease sale area, is available on BOEM’s website.

The lease sale is in direct support of Executive Order 14154, “Unleashing American Energy,” which directs federal agencies to accelerate offshore oil and gas development to lower energy costs, reinforce national energy security, and strengthen America’s global competitiveness.

According to BOEM, the Gulf of America Outer Continental Shelf spans approximately 160 million acres and is estimated to contain 26.90 billion barrels of undiscovered, technically recoverable oil and 45.59 trillion cubic feet of natural gas.

Certain areas will be excluded from the sale, including blocks subject to the September 8, 2020, presidential withdrawal; blocks adjacent to or beyond the U.S. Exclusive Economic Zone in the Eastern Gap; blocks within the boundaries of the Flower Garden Banks National Marine Sanctuary; and any block currently under appeal.

Offshore oil and gas leasing on the Outer Continental Shelf generates billions in revenue through lease sales, rental fees, and royalties. These funds are distributed to the U.S. Treasury and to states via revenue-sharing programs that support coastal restoration, hurricane protection, and other public services and conservation efforts.