Topic
lease sale
Commodities 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.
US Gulf of Mexico Third Offshore Lease Sale Scheduled for August Bidding
The US Bureau of Ocean Energy Management (BOEM) has scheduled its third Gulf of America oil and gas lease sale for August 12, 2026, offering about 15,100 unleased blocks across 325,367 sq km. The sale follows a weak second sale in March that drew only $47 million in high bids, significantly lower than the $280 million raised in the first sale in December 2025. The auction is part of 30 required sales under the One Big Beautiful Bill Act and Trump's Executive Order 14154.