Energy & Petrochemicals #gulf of mexico#oil
US Gulf of Mexico Lease Sale BBG3 Rebounds but Still Far Short of 2025 Record
The third Big Beautiful Gulf lease sale yielded $82.7m in high bids for 59 blocks, rebounding from March's weak result but still less than a third of the December 2025 record. The Marine Minerals Administration said bidding remained highly selective, with 16 companies focusing on a narrow set of prospects, while the Trump administration faces pressure over oil prices linked to the war in Iran.
Aug 13, 2026 1 source