The US Department of the Interior (DOI) has announced the successful lease of the “Big Beautiful Gulf 1,” (US DOI press release, 10/12/2025). The sale represents the first mandatory offshore oil and gas lease sale required under the One Big Beautiful Bill Act. It received 219 bids from thirty companies offering US$372m, closing with US$300m in bids for 181 blocks in the federal waters of the Gulf of Mexico.
The sale is aligned with Executive Order 14154, “Unleashing American Energy,” which aims to “accelerate offshore oil and gas development to lower energy costs, reinforce national energy security and enhance America’s global competitiveness.”
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