Gulf of America Hosts 'One Big Beautiful Bill' Oil Lease Sale
Published Date: 7/8/2026
Notice
Summary
On August 12, 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 August 11, with the sale following strict rules to keep things fair and clear. This sale could bring new energy projects and money to the region, affecting businesses and communities tied to offshore drilling.
Analyzed Economic Effects
8 provisions identified: 3 benefits, 4 costs, 1 mixed.
Statutory Increase in Lease Sales and Acreage
The One Big Beautiful Bill Act requires at least 30 offshore lease sales in the Gulf of America through 2040 and directs the Secretary to hold at least two sales each calendar year from 2026 through 2039 (by March 15 and August 15), with at least one sale by March 15, 2040. The statute also requires not fewer than 80 million acres be offered, or all available unleased acres if fewer than 80 million acres are available.
Royalty Suspension Volume for Ultra-Deep Wells
Certain leases from this sale may be eligible for a Royalty Suspension Volume (RSV) of 35 billion cubic feet on gas produced from ultra-deep wells completed to 20,000 feet total vertical depth subsea (TVDSS) or deeper on leases in less than 400 meters water depth, subject to applicable price thresholds in 30 CFR part 203.
Increased GOMESA Revenue Sharing Caps
The OBBBA increases Gulf of Mexico Energy Security Act (GOMESA) revenue sharing from $500 million to $650 million per year through 2034, keeps $500 million per year through 2055, and removes caps on GOMESA revenue sharing after 2055.
Royalty Rate Set at 12.5%
For Lease Sale BBG3 BOEM sets the royalty rate at 12.5 percent for blocks in all water depths, consistent with the minimum allowed under the OBBBA. This royalty rate applies to production from leases awarded from this sale.
Annual Rental Rates per Acre
Annual rental rates for leases offered in this sale 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. These rates apply year-to-year as specified in the lease terms.
Advance Bonus Deposit and Payment Deadlines
Apparent high bidders must pay a bonus bid deposit equal to one-fifth (20%) of the bonus bid amount; deposits must be electronically deposited into a U.S. Treasury account by 1:00 p.m. Eastern Time the day after the bid reading. Bidders not currently qualified or with past defaults must secure the one-fifth deposit before bid submission by a third-party guarantee, bond rider amendment, letter of credit, or lump-sum EFT.
Geophysical Data Submission Requirements
Bidders who used proprietary seismic or other geophysical data must submit a five-part Geophysical Data and Information Statement (GDIS) and provide proprietary and fast-track data to BOEM at bid time; entities seeking reimbursement must be registered in SAM, enrolled in the U.S. Treasury IPP, and have current SAM representations and certifications. BOEM may use submitted data to evaluate fair market value and may request reproduction cost reimbursement consistent with 30 CFR 551.13.
Lease Sale Date and Bid Deadline
BOEM will open and publicly announce bids for Lease Sale BBG3 at 9:00 a.m. Central time on Wednesday, August 12, 2026. All sealed bids must be received before 10:00 a.m. Central time on Tuesday, August 11, 2026, and bids can be mailed, delivered in person to 1201 Elmwood Park Boulevard, New Orleans, LA, or viewed via BOEM live-stream.
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