The Bureau of Ocean Energy Management has issued the Final Notice of Sale for Lease Sale Big Beautiful Gulf 3, the third of 30 offshore oil and gas lease sales in the Gulf of Mexico, also known as the Gulf of America, required under the One Big Beautiful Bill Act.
The notice is scheduled to publish in the Federal Register July 8, starting a 30-day waiting period before the sale. BOEM will livestream the public bid reading Aug. 12 at 9 a.m. CT. The bid reading venue will be closed to the public, though registered bidders may attend in person under BOEM instructions.
“BBG3 demonstrates our continued commitment to executing a predictable offshore leasing schedule for the Gulf of America,” BOEM Acting Director Matt Giacona said in a statement. “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.”
Lease Sale BBG3 includes about 15,100 unleased blocks covering roughly 80.4 million acres on the U.S. Outer Continental Shelf in the Gulf. The blocks are located from 3 miles to 231 miles offshore, in water depths ranging from 9' to more than 11,100'.
BOEM said the sale supports Executive Order 14154, “Unleashing American Energy,” which directs federal agencies to accelerate offshore oil and gas development.
The Gulf Outer Continental Shelf spans about 160 million acres and is estimated to contain 26.9 billion barrels of undiscovered, technically recoverable oil and 45.59 trillion cu. ft. of natural gas, according to BOEM.
Several areas will be excluded from the sale, including blocks subject to the Sept. 8, 2020, presidential withdrawal; blocks adjacent to or beyond the U.S. Exclusive Economic Zone in the Eastern Gap; blocks within the Flower Garden Banks National Marine Sanctuary; and any block currently under appeal.
BOEM said offshore oil and gas leasing generates revenue through lease sales, rental fees and royalties, with proceeds going to the U.S. Treasury and states through revenue-sharing programs.
