BBG2 lease sale generates $46.9M in high bids

BBG2, the second non-discretionary offshore oil and gas lease sale required under President Trump’s “One Big Beautiful Bill Act” in the Gulf of America, included 25 blocks covering approximately 141,000 acres in federal waters of the Gulf of America. Thirteen companies submitted 38 bids totaling $69,838,782.

“Today’s lease sale reflects President Trump’s continued focus on strengthening America’s energy security while supporting jobs and economic growth across the Gulf of America,” said Secretary of the Interior Doug Burgum. “By advancing responsible offshore development, we’re ensuring that the United States remains a global energy leader and that American families benefit from reliable, affordable energy for years to come.”

“Lease Sale BBG2 represents a significant advancement in BOEM’s offshore oil and gas program in the Gulf of America,” stated BOEM Acting Director Matt Giacona. “Following the substantial industry interest in Lease Sale BBG1, this sale is intended to sustain investment in the U.S. Outer Continental Shelf and bolster American energy independence.”

BOEM offered approximately 15,000 unleased blocks across the Western, Central, and portions of the Eastern Gulf Planning Areas. To attract strong industry participation and maximize investment, the agency applied a 12.5% royalty rate for both shallow and deepwater leases, the lowest deepwater rate since the George W. Bush administration. The Gulf of America’s Outer Continental Shelf is estimated to contain 29.59 billion barrels of undiscovered, technically recoverable oil and 54.84 trillion cubic feet of natural gas.



National Ocean Industries Association President Erik Milito issued the following statement on BBG2:      “Building on December’s landmark Big Beautiful Gulf 1 Lease Sale, America’s offshore energy industry continues to reinforce its commitment to investment in U.S. energy, economic, and national security. NOIA applauds President Trump, Secretary Burgum, and Congress for rebuilding the predictable leasing cadence that American energy dominance requires.      “Continued access to the oil and gas resources of the Gulf of America is a national security imperative. Volatile oil markets and escalating geopolitical tensions, including the ongoing conflict with Iran, are a reminder that American energy is a prerequisite for American strength and stability. The production coming out of the Gulf of America today is the direct result of lease decisions made years ago. The lease sale held today will lead to production that will protect us tomorrow.      “More domestic production means less dependence on foreign oil, fewer leverage points for our adversaries, and a stronger America at exactly the moment the world most needs American leadership. Lease sales like this one drive investment across all 50 states, support hundreds of thousands of good-paying jobs, and deliver massive revenues for American taxpayers in support of our national parks, conservation efforts, coastal restoration, and urban recreation programs. Barrels produced in the Gulf of America carry a far lower carbon intensity than foreign imports. American energy keeps allies supplied and adversaries in check.      “In uncertain times, American strength is essential. Offshore energy is a cornerstone of that strength, and every lease sale such as the Big Beautiful Gulf 2 Lease Sale is a long-term strategic investment in American dominance. The world is stronger, safer, and more secure with American energy leading the way.”