BOEM proposes Lease Sale 262 in the ‘Gulf of America’

The Bureau of Ocean Energy Management has announced the publication of a Proposed Notice of Sale (PNOS) for an oil and gas lease sale in what the agency describes as “the Gulf of America.”

As directed by Secretary of the Interior and outlined in the PNOS, Lease Sale 262 will offer approximately 15,000 unleased blocks located 3 to 231 miles offshore across the Gulf’s Western, Central, and Eastern Planning Areas.

Covering roughly 80 million acres, these blocks are situated in water depths ranging from nine feet to more than 11,100 feet (3 to 3,400 meters). The lease sale bid reading is proposed for December 10, 2025.

BOEM says that this sale is the first of three planned lease sales in the “Gulf of America” under the 2024–2029 Outer Continental Shelf Oil and Gas Leasing Program. The agency says that it is also is also in the process of developing a new National Outer Continental Shelf Oil and Gas Leasing Program that will include additional leasing opportunities.

BOEM also says that certain areas may be excluded from this lease sale, including blocks subject to the Sept. 8, 2020, presidential withdrawal, blocks adjacent to or beyond the US Exclusive Economic Zone in the northern portion of the Eastern Gap, and blocks within the current boundaries of the Flower Garden Banks National Marine Sanctuary.

To support industry participation and lower production costs, BOEM is proposing a royalty rate of 16 2/3% for both shallow and deepwater leases, which is “the lowest rate for deepwater since 2007,” said BOEM’s Acting Regional Director for the GOA Laura Robbins.

The Notice of Availability for the PNOS will be available for public inspection in the Federal Register on June 26, 2025, and will officially be published on June 27, 2025.

The publication of the PNOS will initiate a 60-day comment period for the affected state governors and local governments. Following the comment period, BOEM will issue a Final Notice of Sale in the Federal Register at least 30 days before the scheduled public bid reading, which will be live streamed via Zoom.