Posted in energy policy, Gulf of Mexico, Offshore Energy - General, tagged BBG1, BBG2, BBG3, bids, big beautiful Gulf of America, lease sale, MMA, oil and gas, pre-sale stats on August 11, 2026| Leave a Comment »
The pre-sale statistics are attached.
The table below compares the pre-sale stats for BBG3 with those for BBG1 and 2. The number of BBG3 bids, while well below BBG1, which was the first sale in 2 years, bounced nicely from BBG2 levels.
| BBG1 12/10/2025 | BBG2 3/11/2026 | BBG3 8/12/2026 | |
| tracts bid on | 181 | 25 | 59 |
| total bids | 219 | 38 | 69 |
| shelf bids (<200m) | 12 | 2 | 12 |
| deepwater (>400m) | 168 | 23 | 47 |
| companies bidding | 26 | 13 | 12 |
Posted in energy policy, Gulf of Mexico, Offshore Energy - General, tagged BBG1, BBG2, bids, expectations, lease sale, oil and gas on March 10, 2026| Leave a Comment »
Gulf of America oil and gas lease sale BBG2 will be held tomorrow. The Notice of Sale is attached.
Although Big Beautiful Gulf 1 (BBG1) was rather lackluster, BBG 2 is unlikely to match it in terms of the number of bids and their sum. Prior to BBG1, there had been no lease sale for two years. BBG 2 is being held only 3 months later.
Given the short duration between sales, the bid evaluations for BBG1 are not yet completed. However, the sale notice advises that any block which received a bid in BBG1 is excluded from BBG2.
Will the recent increase in oil prices influence bidding? Probably not given the longer term nature of offshore development and expectations that the current price spike will be of short duration. Onshore shale oil production is more responsive to price fluctuations.
Bud's Offshore Energy (BOE) 