USA moves to open Gulf oil and gas lease sale

HOUSTON, February 19, 2026 – The US Bureau of Ocean Energy Management has announced plans for its third offshore oil and gas lease sale in the Gulf of America under the One Big Beautiful Bill Act, scheduled for August 12, 2026, Reuters reported on Wednesday.

The proposed BBG3 lease sale will offer around 15,066 blocks covering 80.4 million acres (more than 325,000 square kilometres) in water depths of up to 11,100 feet. Certain areas, including those under presidential withdrawal and environmental protection zones, will be excluded. Leases will carry a 12.5% royalty rate.

This is the third of 30 sales mandated by the 2024 One Big Beautiful Bill Act, which aims to establish a consistent leasing schedule and expand US energy production. The Gulf’s Outer Continental Shelf is estimated to hold 29.59 billion barrels of recoverable oil and 1.55 tcm (54.84 tcf) of natural gas.

“The era of regulatory uncertainty is behind us, and a new phase of responsible energy leadership has begun,” BOEM acting director Matt Giacona said.

BOEM is part of the US Department of the Interior and manages development of offshore energy and mineral resources. Its Gulf of America lease programme supports domestic energy security, with offshore activities generating billions of dollars in revenue shared between the federal government and coastal states.

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