The Trump administration is planning an oil and gas lease sale for the Gulf of Mexico that will offer more than 80 million acres of federal waters to developers.
The sale on Aug. 12 would be the third Gulf lease sale held under the terms of last year’s Republican megalaw, the Bureau of Ocean Energy Management said Thursday. The law, formally known as the One Big Beautiful Bill Act, requires 30 lease sales in the Gulf through 2040.
The proposed sale “reinforces BOEM’s commitment to regular offshore leasing as required under” the megalaw, Matt Giacona, the bureau’s acting director, said in a statement.
The Gulf lease sales so far have been named BBG1, BBG2 and BBG3. BBG1 was held in December, while BBG2 is scheduled for March. The December lease sale attracted strong interest from the oil and gas industry, bringing in more than $300 million from winning bids.
