The Bureau of Ocean Energy Management(BOEM) has made a proposal for the sale of BBG3 leases, which reaffirms a state strategy under the One Big Beautiful Bill. Such a measure seeks to eradicate regulatory uncertainty that has held back previous investments by ensuring a predictable schedule of activity for operators in the sector.
Outer Continental Shelf and BBG3 leases
Under the direction of Matt Giacona, the BOEM plans to make approximately 15,066 unleased blocks available to the market. That acreage equates to approximately 80.4 million acres strategically located in the Gulf of America.
The designated areas are located at distances ranging from 3 to 231 miles offshore, with operating depths in excess of 11,100 feet. Also, technical data suggest that the area holds a potential of 29.59 billion barrels of oil and more than 54 trillion cubic feet of natural gas. natural gas.
From an economic perspective, the reactivation of these offshore field tenders ensures a steady flow of capital into the U.S. Treasury. With a competitive royalty rate set at 12.5%, the administration seeks to encourage private participation while funding coastal protection and restoration projects.
By expanding domestic production, the nation ensures affordable energy for its industry and decreases vulnerability to volatile foreign markets. National security is strengthened through this deepwater operational autonomy.
Finally, the formal process will begin on February 20 with the publication of the notice in the Federal Register. A period of 60 days has been set aside for local authorities and governors to express their technical comments.
However, this plan specifically excludes areas of high biological sensitivity, such as the Flower Garden Banks National Marine Sanctuary. If the schedule progresses as planned, the awarding of energy areas will take place on August 12, 2026.
Source and photo: BOEM