U.S. Completes First Offshore Oil And Gas Lease Sale Under One Big Beautiful Bill

The United States Department of the Interior has completed its first mandatory offshore oil and gas lease sale under the One Big Beautiful Bill Act, generating $279,433,757 in high bids for 181 blocks across 80 million acres in the Gulf of America. A total of 30 companies submitted 219 bids worth $371,881,093.

The sale supports Executive Order 14154 – “Unleashing American Energy”, which aims to speed up offshore oil and gas development, lower energy costs, strengthen energy security, and make the US more competitive globally.

Interior Secretary Doug Burgum said that President Trump had made it clear the US would not let policy limits or reliance on foreign energy hold back the country. He noted that the lease sale was an important step in boosting American energy, attracting investment, creating jobs, improving energy security, and providing affordable, reliable energy.

Matt Giacona, acting director of the Bureau of Ocean Energy Management (BOEM), added that the strong bidding showed continued confidence from the industry in the long-term potential of the US outer continental shelf.

The final notice of sale was published in the Federal Register on 10 November 2025. For the first time in ten years, companies could attend in person, and the event was livestreamed for the public. BOEM will publish the complete results online, and a final statistical summary is expected within 90 days.

BOEM offered around 15,000 unleased blocks across the Western, Central, and parts of the Eastern Gulf Planning Areas. A 12.5% royalty rate was applied for both shallow and deepwater leases, the lowest deepwater rate since 2007, to encourage participation and investment.

The Gulf of America’s Outer Continental Shelf spans 160 million acres and holds an estimated 29.59 billion barrels of undiscovered, technically recoverable oil and 54.84 trillion cubic feet of natural gas.

Offshore energy continues to fund national and state programmes. In fiscal year 2024, it generated $6.5 billion in royalties, $372.5 million in bonuses, and $122.8 million in rental payments for the US Treasury, Gulf Coast states, the Land and Water Conservation Fund, and the Historic Preservation Fund.

Lease Sale Big Beautiful Gulf 1 marks a renewed offshore energy strategy, aiming to strengthen national security, expand economic opportunities, and manage natural resources responsibly. BOEM will continue efforts to maximise US offshore energy potential for public benefit.

Lease Sale Big Beautiful Gulf 1 begins a renewed US offshore energy plan focused on boosting national security, creating economic opportunities, and using natural resources responsibly.

BOEM said it will keep working to maximise the country’s offshore energy potential for the benefit of all Americans.

Reference: US DOI

Source: Maritime Shipping News