The Bureau of Ocean Energy Management (BOEM) Nov. 7 advanced the first two offshore oil and natural gas lease sales mandated under the One Big Beautiful Bill Act.
The agency, part of the Interior Department, issued a final notice of sale for the first of 30 Gulf of Mexico lease sales and a proposed notice of sale for the first of six lease sales in Alaska’s Cook Inlet.
“BOEM is now moving forward with a predictable, congressionally mandated leasing schedule that will support offshore oil and gas development for decades to come,” said BOEM acting director Matt Giacona.
The Gulf sale, which BOEM calls the Big Beautiful Gulf 1, will make roughly 80 million acres available for leasing.
BOEM will publish the final notice of the Gulf 1 sale in the Federal Register Nov. 10, paving the way for a public bid reading on Dec. 10, 2025.
The Big Beautiful Cook Inlet 1 sale proposes to make 1 million acres available for leasing in Alaska’s Cook Inlet. The OBBBA requires six sales, one annually from 2026 to 2028, and three more from 2030 to 2032.
BOEM will publish the proposed sales plan in the Federal Register Nov. 10, 2025, initiating a 60-day comment period for affected state governors and local governments. A Final Notice of Sale will be issued at least 30 days prior to the scheduled lease sale on Mar. 4, 2026.
BOEM said it set a 12.5% royalty rate—the lowest rate allowed by statute—for both shallow and deepwater leases for both the Gulf and Cook Inlet sales to encourage industry participation.
“Moving ahead with the first lease sales under the One Big Beautiful Bill Act gives companies the certainty they need to invest, which sustains jobs and strengthens US energy and national security,” said Erik Milito, president of the National Ocean Industries Association.