The Department of the Interior today announced that the Marine Minerals Administration's Lease Sale Big Beautiful Gulf 3, or BBG3, generated $82,689,756 in high bids for 59 blocks in federal waters of the Gulf of America. Sixteen companies submitted 69 bids totaling $99,476,285.
The sale, held at The National WWII Museum in New Orleans, was the third Gulf of America offshore oil and gas lease sale required under President Trump's Working Families Tax Cut Act. Deputy Secretary Kate MacGregor attended the sale.
"As America marks 250 years of independence, this lease sale reminds us that energy has always been tied to American freedom, strength and prosperity," said Secretary of the Interior Doug Burgum. "From the industrial might that helped win World War II to the offshore energy that powers homes, transportation, manufacturing and small businesses today, the Gulf of America continues to serve the American people. Lease Sale BBG3 advances President Trump's American Energy Dominance agenda by strengthening energy security, supporting good-paying jobs and helping ensure families have access to reliable, affordable energy."
Lease Sale BBG3 supports Executive Order 14154, Unleashing American Energy, which outlines President Trump's commitment to expanding offshore oil and gas development to strengthen national energy security, lower energy costs and increase American competitiveness.
"Lease Sale BBG3 reflects MMA's continued work to provide the predictable offshore leasing schedule Congress directed and industry needs to make long-term investment decisions," said Acting MMA Director Matt Giacona. "Holding this sale in New Orleans during America's 250th highlights the Gulf Coast's enduring role in American strength - from its maritime and military history to the offshore energy that helps fuel everyday life. MMA is proud to help carry that legacy forward through responsible offshore energy development on the U.S. Outer Continental Shelf."
The Final Notice of Sale was published in the Federal Register on July 8, 2026, outlining lease areas, fiscal terms and sale procedures. The public bid reading was livestreamed on BOEM's website. Results will be posted at www.boem.gov/Sale-BBG3, with a final statistical summary to be released within 90 days.
MMA offered approximately 15,100 unleased blocks covering roughly 80.4 million acres across the Western, Central and portions of the Eastern Gulf Planning Areas. The blocks are located from 3 to 231 miles offshore in water depths ranging from 9 feet to more than 11,100 feet. The lease terms include a 12.5% royalty rate for blocks in all water depths, consistent with the minimum allowed under the Working Families Tax Cut Act.
The Gulf of America Outer Continental Shelf spans approximately 160 million acres and is estimated to contain 26.90 billion barrels of undiscovered, technically recoverable oil and 45.59 trillion cubic feet of natural gas. Offshore development plays a key role in supporting high-paying jobs, Gulf Coast communities, domestic energy supply and long-term economic growth.
Revenues from Outer Continental Shelf oil and gas activities are a critical source of funding for federal, state and local programs. These funds are distributed to the U.S. Treasury, Gulf Coast states, the Land and Water Conservation Fund and the Historic Preservation Fund. Revenue-sharing programs also support coastal restoration, hurricane protection and other public services that benefit communities across the Gulf Coast and the nation.
Lease Sale BBG3 underscores the Department of the Interior's commitment to an active offshore energy strategy focused on energy security, economic development and responsible stewardship of America's offshore resources. By expanding domestic offshore capabilities, the United States can reduce reliance on foreign producers, support affordability for consumers and reinforce its role as a global energy leader.
