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
2026-04517 — 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.
2026-05319 — 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.
2025-22767 — Oil and Gas and Sulfur Operations in the Outer Continental Shelf
This update fixes a small but important mistake in the rules about oil, gas, and sulfur operations on the Outer Continental Shelf, especially in the Arctic areas like the Beaufort and Chukchi Seas. It mainly affects companies working offshore by clarifying definitions to keep things clear and running smoothly. No new costs or deadlines—just a tidy correction to keep the rulebook sharp and ready.
2025-21802 — Agency Information Collection Activities; Submission to the Office of Management and Budget for Review and Approval; Renewable Energy on the Outer Continental Shelf and Alternate Uses of Existing Facilities on the Outer Continental Shelf
The Bureau of Ocean Energy Management wants to update and renew its paperwork rules for companies working on renewable energy and reusing old facilities out on the ocean shelf. This affects businesses involved in offshore wind, solar, and other clean energy projects, asking them to provide info in a clearer, easier way. Comments on these changes are open until January 2, 2026, helping keep the process smooth and efficient without extra costs.
2025-19852 — Commercial Leasing for Outer Continental Shelf Minerals Offshore the Commonwealth of the Northern Mariana Islands-Request for Information and Interest
The government is asking companies and the public if they're interested in mining minerals offshore near the Northern Mariana Islands. This is the first step before any actual leasing happens, and they want your thoughts by December 12, 2025. If things move forward, it could open up new business opportunities and jobs in the area, but no money changes hands yet.
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The Unified Carrier Registration (UCR) Board is holding an open meeting on February 5, 2026, to keep improving how states manage carrier registration fees. They’ll discuss new rules requiring states to prove they’re using these fees properly, which could affect how money flows and is tracked. Anyone interested can join by phone or Zoom, making it easy to stay in the loop and have a say.
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Louisiana’s small businesses and nonprofits hit by the severe winter storm from January 23-25, 2026, can now apply for special low-interest disaster loans to help them bounce back. The deadline to apply is November 2, 2026, so don’t wait! This support covers affected parishes in Louisiana and nearby counties in Arkansas and Mississippi.
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