Gulf of America OCS — Lease Sale "Big Beautiful Gulf 3" (BBG3)

USA

Asking price: 12.5% royalty rate; bonus bids per block (BBG1 raised $279.4M)

BOEM's third Gulf of America lease sale under the One Big Beautiful Bill Act, scheduled for August 12, 2026. The sale offers approximately 15,066 unleased blocks covering 80.4 million acres on the U.S. Outer Continental Shelf, located 3 to 231 miles offshore in water depths from 9 feet to over 11,100 feet. It's the direct federal-waters counterpart to the Texas GLO's own state-waters leasing program (which covers out to 10.35 miles offshore) — same buyer pool, adjoining acreage. The prior round in the series, BBG1, drew $279.4 million in bids from 30 companies across 181 tracts in December 2025; BBG2 closed March 11, 2026.

~15,066 unleased blocks,80.4 million acres offered,12.5% royalty rate,Third of 30 mandated sales through 2040,Sale date: August 12, 2026,Federal Register Proposed Notice published Feb. 20, 2026