Gulf of America Outer Continental Shelf Oil and Gas One Big Beautiful Bill Act; Lease Sale 2
Published Date: 2/5/2026
Notice
Summary
On March 11, 2026, the government will hold a big oil and gas lease sale in the Gulf of America’s Outer Continental Shelf. Companies wanting to drill can submit bids by March 10, and the sale follows rules from the One Big Beautiful Bill Act to keep things fair and clear. This sale could bring new energy projects and money to the region while following strict guidelines.
Analyzed Economic Effects
8 provisions identified: 4 benefits, 3 costs, 1 mixed.
Royalty Rate Set at 12.5%
Leases offered in Lease Sale BBG2 will carry a royalty rate of 12.5 percent for blocks in all water depths.
Increased GOMESA Revenue Sharing
The One Big Beautiful Bill Act raises Gulf of Mexico Energy Security Act (GOMESA) revenue sharing from $500 million to $650 million per year through 2034, with $500 million caps thereafter through 2055 and no caps after 2055.
35 Billion CF Royalty Suspension Incentive
Certain leases may be eligible for a Royalty Suspension Volume (RSV) of 35 billion cubic feet on gas produced from ultra-deep wells: leases in less than 400 meters water depth with wells completed to 20,000 feet true vertical depth subsea (TVDSS) or deeper, subject to price thresholds in 30 CFR part 203.
At Least 30 Lease Sales Through 2040
Section 50102(a)(1) of the OBBBA requires the Secretary to conduct a minimum of 30 offshore lease sales in the Gulf of America through 2040, including at least two lease sales per calendar year from 2026 through 2039 (by March 15 and August 15) and at least one sale by March 15, 2040.
One-Fifth Bonus Bid Deposit Requirement
Apparent high bidders must submit a bonus bid deposit equal to one-fifth of the bonus bid amount by electronic funds transfer (EFT) into an interest-bearing U.S. Treasury account by 1:00 p.m. Eastern Time the day following bid reading; payments should be initiated the day of bid reading and may require up to 7:00 p.m. ET to process.
Minimum of 80 Million Acres to Offer
The OBBBA requires that not fewer than 80 million acres be offered in the Gulf of America lease program, or all available unleased acres if less than 80 million acres are available.
Annual Rental Rates: $7 and $11/acre
Annual rental rates for leases are $7.00 per acre (or fraction) per year for blocks in water depths less than 200 meters, and $11.00 per acre (or fraction) per year for blocks in water depths 200 meters or deeper.
10-Year Primary Term for Deepwater Leases
Leases offered in water depths of 800 meters or deeper will have a primary term of 10 years.
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Key Dates
Department and Agencies
Related Federal Register Documents
2026-09208, Risk Management and Financial Assurance for OCS Lease and Grant Obligations; Extension of Public Comment Period
The Bureau of Ocean Energy Management is giving everyone an extra week to share their thoughts on new rules about managing risks and money for ocean energy leases and grants. This extension means folks involved in offshore energy projects have until May 15, 2026, to comment. No need to resend old comments—they’re already counted!
2026-04517, Risk Management and Financial Assurance for OCS Lease and Grant Obligations
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2026-16839, Notice of Availability of the Proposed Leasing Notice for the Commonwealth of the Northern Mariana Islands Outer Continental Shelf Pacific Mineral Lease Sale 2 (PACM-2)
The Bureau of Ocean Energy Management (BOEM) announces the availability of the Proposed Leasing Notice (PLN) for the Commonwealth of the Northern Mariana Islands (CNMI) Outer Continental Shelf (OCS) Pacific Mineral Lease Sale 2 (PACM-2). BOEM publishes this notice pursuant to its regulatory authority under 30 CFR part 581. Pursuant to 30 CFR 581.16, the Secretary of the Interior provides the Governor of the Commonwealth of the Northern Mariana Islands with the opportunity to review and comment on the PLN within 60 days of publication of this notice of availability. The PLN describes the proposed lease sale's size, timing, and location, along with information to lessees about clauses, lease stipulations, and terms and conditions, such as minimum bids, royalty rates, and rental rates.
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The Department of the Interior (DOI or Department), acting through BSEE and BOEM (collectively, "the Bureaus"), is proposing to revise its existing regulations for exploratory drilling and related operations on the Arctic Outer Continental Shelf (OCS), to reduce unnecessary burdens on stakeholders while ensuring that energy exploration on the Arctic OCS is safe and environmentally responsible.\1\ This proposed rule would revise certain requirements promulgated through the rule entitled, Oil and Gas and Sulfur Operations on the Outer Continental Shelf--Requirements for Exploratory Drilling on the Arctic Outer Continental Shelf ("2016 Arctic Exploratory Drilling Rule") (see 81 FR 46478). This proposed rule would modify existing Arctic OCS blowout preventer (BOP) real-time monitoring requirements and add new provisions to BSEE's regulations pertaining to requirements for crane operations on artificial islands, suspensions of operations (SOO), and suspensions of production (SOP). This proposed rule would also revise certain parts of the Exploration Plan (EP) and Development and Production Plan (DPP) regulations implemented by BOEM. ---------------------------------------------------------------------------
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