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Federal agency moves ahead with third auction mandated under the One Big Beautiful Bill Act
The U.S. Bureau of Ocean Energy Management (BOEM) has issued the Final Notice of Sale for its third offshore oil and gas lease sale under the One Big Beautiful Bill Act, keeping the Trump administration's accelerated Gulf of America leasing program on schedule.
Lease Sale Big Beautiful Gulf 3 (BBG3) will offer approximately 15,100 unleased blocks covering about 80.4 million acres across the Gulf of America Outer Continental Shelf. The available acreage stretches from 3 to 231 miles offshore in water depths ranging from 9 feet to more than 11,100 feet.
The Final Notice of Sale is scheduled for publication in the Federal Register on July 8, triggering a 30-day waiting period before bids are opened. BOEM will livestream the public bid reading on Aug. 12 at 9 a.m. Central Time, while registered bidders will have the option to attend in person.
"BBG3 demonstrates our continued commitment to executing a predictable offshore leasing schedule for the Gulf of America," BOEM Acting Director Matt Giacona said in a statement. "This third Congressionally directed sale builds on the momentum of the first two sales and supports responsible development of America's offshore energy resources, continued investment in the U.S. Outer Continental Shelf, and American energy independence."
The sale is the third of 30 Gulf of America lease sales required under the One Big Beautiful Bill Act and supports President Donald Trump's Executive Order 14154, Unleashing American Energy, which calls for expanded offshore oil and gas development.
The announcement follows a much weaker second auction under the program in March. Lease Sale BBG2 generated just $47 million in high bids from 13 companies covering 25 blocks, a sharp decline from the inaugural BBG1 sale in December 2025, which attracted nearly $280 million in high bids across 181 blocks.
Not all Gulf acreage will be available. BOEM said the sale excludes blocks covered by the Sept. 8, 2020 presidential withdrawal, areas adjacent to 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.
According to BOEM, the Gulf of America Outer Continental Shelf spans roughly 160 million acres and is estimated to contain 26.9 billion barrels of undiscovered, technically recoverable oil and 45.6 trillion cubic feet of natural gas.
