By Suzanne Downing 
The Bureau of Ocean Energy Management on Friday announced two major milestones in carrying out President Donald Trump’s One Big Beautiful Bill Act, the sweeping energy law requiring 36 offshore oil and gas lease sales across the Gulf of America and Alaska’s Cook Inlet.
BOEM released the Final Notice of Sale for Big Beautiful Gulf 1 (BBG1), the first of 30 Gulf of America lease sales that are planned, and the Proposed Notice of Sale for Big Beautiful Cook Inlet 1 (BBC1), the first of six lease sales in Alaska’s Cook Inlet.
“These actions mark the start of a predictable, congressionally mandated leasing schedule that will support offshore oil and gas development for decades to come,” said BOEM Acting Director Matt Giacona in a statement.
Big Beautiful Gulf will make roughly 80 million acres available across the Gulf of America, which spans about 160 million acres and holds an estimated 29.6 billion barrels of undiscovered oil and nearly 55 trillion cubic feet of natural gas. The lease sale, scheduled for Dec. 10, will feature a 12.5% royalty rate, the lowest allowed by law, to encourage industry participation.
Big Beautiful Cook Inlet proposes to open approximately 1 million acres offshore Alaska to potential bidders. The sale, anticipated for March 4, will also carry a 12.5 % royalty rate and is the first in a series of six Cook Inlet lease sales to be held between 2026 and 2032. A 60-day public comment period begins Monday, Nov. 10.
These leases are subject to the Congresssman Nick Begich provision that gives Alaska 70% of royalties starting in 2034.
Offshore leasing program may strengthen national energy security, create high-wage jobs, and generate billions in federal and state revenue through lease payments, royalties, and profit-sharing programs that fund coastal restoration and other public services.
The Gulf and Cook Inlet lease sales are mandated by the One Big Beautiful Bill Act (Public Law 119-21), signed earlier this year by President Trump, and align with his Executive Order 14154, Unleashing American Energy, which directs federal agencies to maximize US resource development.
Past Cook Inlet sales have attracted little to no attention or bids. A lease sale does not guarantee the presence of gas, nor does its presence guarantee a commercial development. Cook Inlet gas is not going to save Southcentral Alaska. Only LNG can do that at this point.