The US Bureau of Ocean Energy Management (BOEM) has announced that the third Gulf of Mexico offshore oil and gas lease sale under the One Big Beautiful Bill Act will be held on August 12, 2026.
BOEM said in the Proposed Notice of Sale that the so-called Lease Sale Big Beautiful Gulf 3 (BBG3), the third of 30 mandated by Trump’s legislation, will offer 15,066 unleased blocks spanning 80.4 million acres across the Gulf of Mexico’s Outer Continental Shelf.
Depths range from around 3 m to 3,400 m, while the blocks are located from 5 to 370 km from shore. The US Gulf basin holds around 29.59bn barrels of recoverable oil and 54.84 tcf of gas.
Exclusions include September 2020 withdrawals, Eastern Gap zones beyond the EEZ, and Flower Garden Banks Sanctuary. The first lease sale under the OBBBA raised $279.4m from 219 bids submitted by 30 firms across 181 tracts in December. The second sale is scheduled for March 11.
“Building on the momentum of BBG1 and BBG2, this proposed sale reinforces BOEM’s commitment to regular offshore leasing as required under the One Big Beautiful Bill Act. By offering leases with a competitive 12.5% royalty rate, BBG3 sends a clear signal that the era of regulatory uncertainty is behind us,” said BOEM Acting Director Matt Giacona.
The announcement of the third sale and its publication in the Federal Register kicks off a 60-day comment window for governors, with a final notice for the sale scheduled for early August.
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