The US Bureau of Ocean Energy Management (BOEM) has begun the process for an offshore energy lease round in the Gulf of America by issuing a Proposed Notice of Sale.
The announcement marks the start of a 60-day consultation period with state and local governments on Lease Sale 262, which is part of the federal leasing schedule set out in the 2024 to 2029 Outer Continental Shelf Oil and Gas Leasing Programme.
Lease Sale 262 would make around 15,000 currently unallocated offshore parcels available to the energy sector for exploration and extraction.
These areas, located within the Western, Central, and Eastern Planning Areas of the Gulf, cover nearly 80 million acres. They lie between 5 and 372km from the coastline, in waters ranging from shallow shelf zones to depths exceeding 11,000ft.
According to the published details, some offshore sections are excluded from the lease offering. These include zones impacted by the presidential withdrawal issued on 8 September 2020, regions that lie outside the US Exclusive Economic Zone in the Eastern Gap, and locations within the Flower Garden Banks National Marine Sanctuary.
The formal publication of the Proposed Notice is scheduled for 27 June 2025, with an advance version made available on 26 June. Once the consultation concludes, the Final Notice of Sale will be issued at least 30 days prior to the auction event, which is expected to take place on 10 December 2025.
BOEM Principal Deputy Director Matt Giacona said: “Offshore oil and gas play a vital role in our nation’s energy portfolio, with the Gulf of America supplying 14% of domestically produced oil.
“This proposed lease sale demonstrates BOEM’s commitment to advancing American Energy Dominance and fostering the production of affordable, reliable energy resources for the nation.”
The lease sale aligns with directives issued by the Secretary of the Interior, Doug Burgum, who in April 2025 instructed the bureau to proceed with the next scheduled auction as part of national energy strategy. Estimates from the Bureau of Ocean Energy Management suggest the Gulf region holds 29.59 billion barrels of technically recoverable crude oil and 54.84 trillion cubic feet of natural gas in undiscovered fields.
BOEM has also confirmed a proposed royalty rate of 16⅔ percent across both shallow and deepwater lease categories, which the agency describes as the lowest for deepwater acreage since 2007.
Revenues derived from leasing activities, including upfront payments and royalties, are allocated between the federal treasury and participating states. These funds contribute to government operations and designated programmes related to land conservation, education and infrastructure development.
The Outer Continental Shelf in the Gulf of America, which spans around 160 million acres, is considered a key component of the US’ offshore energy supply framework. The Bureau’s resource assessments suggest it may contain approximately 48 billion barrels of recoverable crude and 141 trillion cubic feet of natural gas.
