The Bureau of Ocean Energy Management (BOEM) has issued the Final Notice of Sale for Lease Sale Big Beautiful Gulf 3 (BBG3), the third offshore lease sale required under the One Big Beautiful Bill Act.
The notice is scheduled to be published in the Federal Register on 8 July, starting a 30-day waiting period before the lease sale. BOEM plans to livestream the public bid reading on 12 August at 9:00 a.m. Central Time through its website.
The bid reading venue will not be open to the public. Registered bidders may attend in person under BOEM instructions.
Lease Sale BBG3 includes approximately 15,100 unleased blocks covering about 80.4 million acres on the U.S. Outer Continental Shelf in the Gulf of America. The blocks are located 3 miles to 231 miles offshore, with water depths from 9 feet to more than 11,100 feet.
BOEM said the sale supports Executive Order 14154, “Unleashing American Energy,” which directs federal agencies to accelerate offshore oil and gas development.
The Gulf of America Outer Continental Shelf spans approximately 160 million acres. BOEM estimates it contains 26.90 billion barrels of undiscovered, technically recoverable oil and 45.59 trillion cubic feet of natural gas.
Several areas will be excluded from the lease sale. These include blocks covered by the 8 September 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 on the Outer Continental Shelf generates revenue through lease sales, rental fees and royalties. The funds are distributed to the U.S. Treasury and to states through revenue-sharing programs supporting coastal restoration, hurricane protection, public services and conservation efforts. BOEM also said Outer Continental Shelf development supports jobs, infrastructure, education and local economies.
More information, including the Final Notice of Sale package and a detailed map of the proposed lease sale area, is available from BOEM.
