From January through March, the BLM sold 246 parcels for lease on 225,277 acres in Arkansas, Colorado, Louisiana, Michigan, Mississippi, Montana, North Dakota, Nevada, New Mexico, Utah and Wyoming, generating just over $415 million in receipts.
From January through March, the BLM sold 246 parcels for lease on 225,277 acres in Arkansas, Colorado, Louisiana, Michigan, Mississippi, Montana, North Dakota, Nevada, New Mexico, Utah and Wyoming, generating just over $415 million in receipts.
In addition, last month the BLM held an oil and gas sale for the National Petroleum Reserve in Alaska, resulting in 187 tracts sold and an additional $177.6 million in total receipts.
The Alaska sale was the first for the reserve since 2019 and the first under the One Big Beautiful Bill Act under which, the BLM must hold at least five lease sales in the reserve by 2035, each offering at least four million acres.
Meanwhile, the US Bureau of Ocean Energy Lease Sale Big Beautiful Gulf 2 (BBG2) in March generated has generated nearly $47 million in high bids.
The sale included 25 blocks covering approximately 141,000 acres in federal waters of the Gulf of America. Thirteen companies submitted 38 bids totaling $69,838,782.
BOEM offered approximately 15,000 unleased blocks across the Western, Central, and portions of the Eastern Gulf Planning Areas. The agency applied a 12.5% royalty rate for both shallow and deepwater leases, the lowest deepwater rate since the George W Bush administration.
In Fiscal Year 2025, oil production on the Outer Continental Shelf comprised 677.2 million barrels, representing 14% of all domestic production. This equates to an average of approximately 1.86 million barrels of oil per day.
