NEW ORLEANS - The Department of the Interior announced today's Bureau of Ocean Energy Lease Sale Big Beautiful Gulf 2, or BBG2, generated $46,976,423 in high bids. Deputy Secretary Kate MacGregor and Acting Assistant Secretary for Land and Minerals Management Lanny Erdos attended the sale.
The sale, 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 supports Executive Order 14154, "Unleashing American Energy," that outlines President Trump's commitment to expanding offshore oil and gas development in order to strengthen national energy security, lower energy costs, and increase economic competitiveness.
"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 proposed sale is intended to sustain investment in the U.S. Outer Continental Shelf and bolster American energy independence."
The Final Notice of Sale was published in the Federal Register on Feb. 5, 2026, outlining lease areas, fiscal terms, and sale procedures. Lease sale bidders were invited to attend the sale in person, and the lease sale was also live streamed for the general public on BOEM's website. Results will be posted on www.boem.gov with a final statistical summary to be released within 90 days.
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 spans 160 million acres and is estimated to contain 29.59 billion barrels of undiscovered, technically recoverable oil and 54.84 trillion cubic feet of natural gas.
In Fiscal Year 2025, oil production on the Outer Continental Shelf made up 677.2 million barrels, representing 14% of all domestic production. This equates to an average of approximately 1.86 million barrels of oil per day of production. Offshore development plays a key role in supporting high-paying jobs, local economies, and long-term domestic energy supply.
Offshore energy development also fuels long-term economic growth by supporting infrastructure, education, and public services. It advances U.S. energy independence, a cornerstone of economic strength, national security, and global stability. By continuing to expand offshore capabilities, the United States reduces reliance on unstable foreign producers, ensures affordable energy for consumers, and reinforces its role as a global energy leader.
Lease Sale BBG2 signifies a shift to an active offshore energy strategy, emphasizing energy security, economic development, and careful management of resources. The sale underscores BOEM's critical role in advancing strategic offshore energy development on the U.S. Outer Continental Shelf that benefits the American people.
