Second of 30 US offshore oil & gas lease sales on the agenda for March

The U.S. Bureau of Ocean Energy Management (BOEM) has revealed a proposed notice of sale for the next offshore oil and gas lease sale under the One Big Beautiful Bill Act, which is the second of thirty Gulf of America (U.S. Gulf of Mexico) oil and gas lease sales required by this legislation.  

As the proposed lease sale, known as Big Beautiful Gulf (BBG2), is scheduled to take place on March 11, 2026, the proposed notice of sale will be published in the Federal Register on November 20, 2025, initiating a 60-day comment period for affected state governors and local governments. Following the review, BOEM will publish a final notice of sale in the Federal Register at least 30 days before the scheduled lease sale date.

By committing to a predictable sale schedule, the Department of Interior (DOI) is perceived to be delivering on President Donald J. Trump’s promise to expand American energy production and strengthen U.S. energy dominance. 

Covering about 80 million acres on the U.S. Outer Continental Shelf in the Gulf of America, the lease sale BBG2 proposes to offer approximately 15,000 unleased blocks located 3 to 231 miles offshore, spanning water depths from 9 to more than 11,100 feet.

The Gulf of America Outer Continental Shelf, encompassing around 160 million acres, is estimated to contain 29.59 billion barrels of undiscovered, technically recoverable oil and 54.84 trillion cubic feet of natural gas.

BOEM explains that 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; and blocks within the boundaries of the Flower Garden Banks National Marine Sanctuary.

Matt Giacona, BOEM’s Acting Director, highlighted: “Lease Sale BBG2 marks another major milestone in advancing a robust and forward-looking offshore oil and gas program in the Gulf of America. Building on the momentum of BBG1, this proposed sale reinforces BOEM’s commitment to restoring certainty and long-term investment in the U.S. Outer Continental Shelf.

“By offering leases under a competitive 12.5% royalty rate, BBG2 sends a clear signal that the era of regulatory uncertainty is behind us, and a new phase of responsible energy leadership has begun.”

The U.S. Bureau of Ocean Energy Management underlines that Outer Continental Shelf oil and gas activities generate billions of dollars from lease sales, rental fees, and royalties, with funds distributed to the U.S. Treasury, as well as states through several different revenue-sharing programs that bankroll coastal restoration and hurricane protection projects.

According to BOEM, the largest portion goes to the General Fund of the U.S. Treasury, which benefits all U.S. citizens through funding of the daily operations of the federal government. In addition, the offshore development is said to fuel state and federal revenues, helping fund infrastructure, education, and public services.

“Energy independence is a cornerstone of U.S. economic strength, national security and global stability, boosting American energy dominance and reducing reliance on unstable foreign producers,” emphasized the Bureau of Ocean Energy Management.

“By continuing to expand offshore capabilities, the United States ensures affordable energy for consumers, strengthens domestic industry and reinforces its role as an energy superpower.”

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