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
The Department of the Interior is proposing new rules to make it easier and cheaper for companies drilling for oil, gas, and sulfur on the Outer Continental Shelf to prove they can cover cleanup costs. These changes will lower the extra money companies must set aside, freeing up about $6.2 billion to invest back into energy projects. The updates affect current and future leaseholders and grant holders and aim to boost American energy while keeping the environment safe.
2026-09793 — Agency Information Collection Activities; Oil Spill Financial Responsibility for Offshore Facilities
The Bureau of Ocean Energy Management wants to update how offshore oil companies prove they can pay for oil spill cleanup. This affects companies running offshore oil facilities, who must provide financial info to show they’re ready for spills. Comments on these changes are open until July 14, 2026, helping make sure the rules are clear and not too hard to follow.
2026-08149 — Notice on Outer Continental Shelf Oil and Gas Lease Sales
Starting May 1 through October 31, 2026, certain big oil companies can’t team up to bid on Outer Continental Shelf oil and gas leases. This new rule splits companies into groups and stops them from joining forces across groups, keeping the bidding fair and competitive. If a company produces a lot already, it might also get blocked from bidding, shaking up who gets a shot at these valuable leases.
2026-05319 — Notice of Intent To Prepare an Environmental Impact Statement on Platform Gilda Well Stimulation Treatment
The Bureau of Ocean Energy Management is getting ready to study how boosting oil and gas production by using hydraulic fracturing on 16 wells at Platform Gilda, offshore California, might affect the environment. They want to hear from everyone—local communities, governments, and tribes—before making decisions. Comments are open until March 30, 2026, so don’t miss your chance to speak up!
2026-03973 — Notice of Intent To Prepare a Programmatic Environmental Impact Statement for Proposed Oil and Gas Lease Sales in the Northern, Central, and Southern California Program Areas
The government is getting ready to study how new oil and gas lease sales off California’s coast might affect the environment. This affects people in Northern, Central, and Southern California, with lease sales planned soon that could bring changes to local communities and ecosystems. They want your thoughts by March 30, 2026, as they plan these sales and figure out the best way forward.
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