The US Government is set to auction oil and gas drilling rights across nearly 80 million acres in the Gulf of Mexico (GoM) next month, and around one million acres in Alaska’s Cook Inlet for leasing in 2026.
The Bureau of Ocean Energy Management (BOEM) confirmed these actions as part of a broader plan required by the One Big Beautiful Bill Act (OBBA).
This move aims to expand offshore energy development in the GoM and Alaska.
The GoM sale, known as Big Beautiful Gulf 1, is planned for 10 December 2025.
This auction is the first of 30 mandated sales in the Gulf, scheduled through 2040, following legislation signed by President Donald Trump in July.
According to the BOEM, the Outer Continental Shelf covers around 160 million acres and holds an estimated 29.59 billion barrels of undiscovered, technically recoverable oil and 54.84 trillion cubic feet of natural gas.
Certain zones, including areas withdrawn on 8 September 2020 and those within the Flower Garden Banks National Marine Sanctuary, are excluded from the sale.
The BOEM has set a 12.5% royalty rate for both shallow and deep-water leases, the lowest rate permitted by statute.
The agency also plans to lease Alaska's Cook Inlet, under Big Beautiful Cook Inlet 1, the first of at least six sales in the region required by the same law.
The proposed sale is scheduled for 4 March 2026, with additional annual sales planned from 2026 to 2028 and from 2030 to 2032.
BOEM Acting Director Matt Giacona said: “President Trump’s signing of the One Big Beautiful Bill Act marked the beginning of a new chapter for oil and gas development in the Gulf of America and Alaska’s Cook Inlet.
“The BOEM is now moving forward with a predictable, congressionally mandated leasing schedule that will support offshore oil and gas development for decades to come.”
The potential lease sales align with the Trump administration’s policy of increasing domestic oil, gas and coal output while reducing regulations on fossil fuels and limiting subsidies for renewable energy, reported Reuters.
