The U.S. Bureau of Ocean Energy Management (BOEM) has issued the final notice for its third Gulf of America offshore lease sale required under the One Big Beautiful Bill Act, offering about 80.4 million acres on the U.S. Outer Continental Shelf.
Lease Sale Big Beautiful Gulf 3, or BBG3, is the third of 30 Gulf lease sales required by the act and covers about 15,100 unleased blocks, BOEM said.
The blocks are located between 3 miles and 231 miles offshore, in water depths ranging from 9 feet to more than 11,100 feet.
The final notice is scheduled for publication in the Federal Register on July 8, triggering a 30-day waiting period before the sale. BOEM plans to hold a public bid reading on August 12 at 9 a.m. Central Time.
“BBG3 demonstrates our continued commitment to executing a predictable offshore leasing schedule for the Gulf of America. 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,” said Matt Giacona, BOEM’s Acting Director.
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.
BOEM said the Gulf of America Outer Continental Shelf spans about 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.
The lease sale supports Executive Order 14154, “Unleashing American Energy,” which directs federal agencies to accelerate offshore oil and gas development.
Offshore oil and gas leasing on the Outer Continental Shelf generates revenue through lease sales, rental fees and royalties, with funds distributed to the U.S. Treasury and states through revenue-sharing programs.