Washington, DC – US authorities today announced a new sale of offshore oil fields in the Gulf of America. The sale encompasses approximately 80 million acres. The auction is scheduled for March 11, 2026, and is part of a federal law mandating 30 similar leases.
The Bureau of Ocean Energy (BOEM) said the auction, known as BBG2, will include approximately 15,000 currently undeveloped blocks of land on the U.S. Outer Continental Shelf. These blocks are located between 5 and 370 kilometers from the coast, in water depths of up to 3,385 meters. Geological estimates indicate potential oil reserves of 29.59 billion barrels and 54.84 trillion cubic feet of undiscovered natural gas.
A royalty rate of 12.5% will be applied to enhance investment attractiveness, with the exception of certain areas affected by previous withdrawal orders or national marine reserves such as Flower Garden Banks.
The Gulf of America is one of the most important offshore oil and gas producing basins in the United States. Sales revenues, royalties, and leases go to the federal budget. A portion is also returned to coastal states to fund coastal protection and hurricane response projects.
Matt Giacona, acting director of BOEM, said: “BBG2 sends a clear signal to the market that we are entering a phase of regulatory stability,” noting that the current policy aims to provide a favorable environment for investment in the energy sector.
