Jun 27, 2025 (MarketLine via COMTEX) --
Lease Sale 262 will offer 15,000 unleased blocks covering an area of around 80 million acres across various water depths.
The US Bureau of Ocean Energy Management (BOEM) has announced plans to hold an oil and gas lease sale in the Gulf of Mexico in December.
Lease Sale 262 will offer approximately 15,000 unleased blocks covering an area of around 80 million acres at water depths of 3aEUR"3,400m.
Energy independence has been highlighted as a key factor of US economic strength, national security and global stability.
The expansion of offshore capabilities is aimed at ensuring affordable energy for consumers, strengthening domestic industry and reinforcing the US' position as an energy superpower, the BOEM stated.
Lease Sale 262 will focus solely on oil and gas exploration and development.
The sale targets blocks located three to 231 miles offshore in the Gulf's Western, Central and Eastern Planning Areas.
This lease sale, scheduled under the 2024aEUR"2029 Outer Continental Shelf (OCS) Oil and Gas Leasing Program, is the first of three planned for the Gulf of Mexico.
BOEM is concurrently working on a new National OCS Oil and Gas Leasing Program to provide further leasing opportunities.
The Gulf of Mexico OCS is a vast area spanning approximately 160 million acres, with an estimated 48 billion barrels of undiscovered, recoverable oil and 141 trillion cubic feet of natural gas.
However, certain areas will be excluded, such as blocks affected by the presidential withdrawal on 8 September 2020, areas adjacent to or beyond the US Exclusive Economic Zone in the northern portion of the Eastern Gap, and blocks within the Flower Garden Banks National Marine Sanctuary's current boundaries.
BOEM GOA acting regional director Laura Robbins said: "To support robust industry participation, lower production costs and unleash the full potential of the Gulf of AmericaaEUR(TM)s offshore energy reserves, BOEM is proposing a royalty rate of 16?% for both shallow and deep-water leases aEUR" the lowest rate for deep-water since 2007.aEUR
The OCS oil and gas activities are expected to create billions of dollars from lease sales, rental fees and royalties.
These funds are allocated to the US Treasury and states through revenue-sharing programmes that support conservation, outdoor recreation and other public services.
A substantial portion contributes to the General Fund of the US Treasury, aiding in the federal government's daily operations.
In April, the US announced the 11th national OCS oil and gas leasing programme, which will include a new High Arctic planning area offshore Alaska.A
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