US BOEM advances lease sales in Gulf, Cook Inlet; eyes California
The US Bureau of Ocean Energy Management (BOEM) will hold the second of 30 Gulf of Mexico oil and gas lease sales required under 2025’s One Bill Beautiful Bill Act (OBBBA) on Mar. 11.
Days before, BOEM said it would hold the first of six lease sales in Alaska’s Cook Inlet on March 3. The Cook Inlet sales are also mandated by the OBBBA.
The upcoming Gulf sale, called BBG2, proposes to offer about 15,066 unleased blocks covering about 80.4 million acres on the US Outer Continental Shelf (OCS). The blocks are 3-231 miles offshore, spanning water depths of 9-11,100 ft.
“Following the strong industry response to Lease Sale BBG1, this proposed sale aims to ensure continued investment in the OCS and support American energy independence,” said BOEM Acting Director Matt Giacona.
The most recent lease sale in the US Gulf of Mexico in December 2025 drew $279.4 million in apparent high bids.
Meanwhile, BOEM Jan. 30 said it would hold the Cook Inlet oil and gas lease sale (BBC1) on Mar. 3, with results announced Mar. 4.
In its final notice of sale, the agency outlined lease stipulations, including a 10-year primary lease term, $25-per-hectare minimum bonus bids, and a 12.5% royalty rate.
Separately, BOEM said it is seeking public input on resuming federal oil and gas lease sales offshore California for the first time since 1984. The agency Jan. 26 requested industry nominations and public comments on potential offshore leasing areas in Southern California and Central California.
The move is the first step to potentially include the two California regions in the Department of Interior’s 2026-2031 nationwide lease sale program.
In a news release, Giacona said the calls “begin a careful analysis” of the areas with resource potential “to help guide future decisions about potential leasing and development.”
The first sale in each case is tentatively scheduled for 2027, but BOEM said issuing the calls does not constitute a decision to hold a lease sale, nor does it preclude areas from being removed from future consideration.
About the Author
Cathy Landry
Washington Correspondent
Cathy Landry has worked over 20 years as a journalist, including 17 years as an energy reporter with Platts News Service (now S&P Global) in Washington and London.
She has served as a wire-service reporter, general news and sports reporter for local newspapers and a feature writer for association and company publications.
Cathy has deep public policy experience, having worked 15 years in Washington energy circles.
She earned a master’s degree in government from The Johns Hopkins University and studied newspaper journalism and psychology at Syracuse University.