Federal Agency Moves Forward with Third Auction Under the One Big Beautiful Bill Act
The U.S. Bureau of Ocean Energy Management (BOEM) has announced the Final Notice of Sale for its third offshore oil and gas lease sale as part of the One Big Beautiful Bill Act. This keeps the previous administration’s fast-tracked Gulf of America leasing program on track.
The Big Beautiful Gulf 3 (BBG3) lease sale will offer around 15,100 blocks that have not been leased, covering approximately 80.4 million acres in the Gulf of America Outer Continental Shelf. The areas available range from 3 to 231 miles offshore, in water depths from 9 feet to over 11,100 feet.
The Final Notice of Sale will be published in the Federal Register on July 8, starting a 30-day waiting period before bids can be submitted. BOEM will hold a livestream event for the public bid reading on August 12 at 9 a.m. Central Time, and registered bidders can also attend in person.
“BBG3 shows our ongoing commitment to a consistent offshore leasing schedule for the Gulf of America,” said BOEM Acting Director Matt Giacona. “This third sale directed by Congress builds on the progress of the first two sales and supports responsible development of our offshore energy resources, investment in the U.S. Outer Continental Shelf, and American energy independence.”
This sale is the third out of 30 required Gulf of America lease sales under the One Big Beautiful Bill Act and aligns with President Donald Trump's Executive Order 14154, Unleashing American Energy, which aims to increase offshore oil and gas development.
This announcement follows a less successful second auction in March, where Lease Sale BBG2 only drew in $47 million in bids from 13 companies for 25 blocks, a significant drop from the initial BBG1 sale in December 2025, which garnered nearly $280 million across 181 blocks.
Not all areas in the Gulf will be up for grabs. BOEM stated that blocks affected by the presidential withdrawal on September 8, 2020, areas near or beyond the U.S. Exclusive Economic Zone in the Eastern Gap, blocks within the Flower Garden Banks National Marine Sanctuary, and any tracts currently under appeal will not be included in the sale.
According to BOEM, the Gulf of America Outer Continental Shelf covers about 160 million acres and is believed to contain 26.9 billion barrels of undiscovered, technically recoverable oil and 45.6 trillion cubic feet of natural gas.