The Trump administration on Wednesday will offer more than 81 million acres in the Gulf of America to oil and gas drillers as part of an effort to boost domestic energy production with regular offshore lease sales. The sale is the second since the U.S.-Israeli war with Iran disrupted global crude flows and sent oil prices to four-year highs. It is the third of 30 mandated by President Donald Trump’s tax cut and spending law passed in 2025.
The Interior Department will offer 15,100 unleased blocks located between 3 and 231 miles offshore on the U.S. Outer Continental Shelf. Water depths range from 9 feet to more than 11,100 feet, according to a document posted on a government website. According to a pre-sale document released on Tuesday, 12 companies submitted a total of 69 bids on 330,000 acres, or about 0.4% of the 81 million acres offered in the Gulf of Mexico, which Trump renamed the Gulf of America under an executive order. The second auction in March generated nearly $47 million in high bids for 25 blocks across roughly 141,000 acres. That was far less than the first auction in December mandated by the 2025 law, which yielded $279.4 million in high bids.
