Next Gulf of Mexico Oil and Gas Lease Sale Set for March

The latest auction is part of a 15-year plan to boost domestic energy production.

Published on Feb. 12, 2026

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The U.S. government has scheduled the next sale of oil and gas leases in the Gulf of Mexico for March 11, one of dozens planned over the next 15 years as part of a push by the Trump administration to increase domestic energy production. The March sale will open more than 80 million acres on the Outer Continental Shelf for bidding by energy companies.

Why it matters

The lease sales are expected to generate billions in revenue for the federal government and Gulf Coast states, which can use the funds for coastal restoration, hurricane protection, and other infrastructure projects. However, the long lag time between leasing and actual production means the impact on U.S. oil and gas output may not be felt until the 2030s.

The details

The March 11 lease sale is the second in a series mandated by the One Big Beautiful Bill Act signed by President Trump in 2025. That law requires 30 offshore auctions in the Gulf of Mexico and 6 in Alaska's Cook Inlet by 2040. In the first sale in December 2025, 30 companies bid a total of $372 million for 219 blocks. BP, Chevron, and Woodside Energy were the top three bidders. Most of the interest was in the Keathley Canyon and Mississippi Canyon areas, which have long histories of deepwater production.

  • The next Gulf of Mexico oil and gas lease sale is scheduled for March 11, 2026.
  • The first sale in the series mandated by the 2025 One Big Beautiful Bill Act was held in December 2025.
  • The Trump administration's executive order directing federal agencies to accelerate offshore energy development was signed in January 2025.

The players

Donald Trump

The former U.S. president who signed the One Big Beautiful Bill Act in 2025 to mandate a series of offshore lease sales over the next 15 years.

Bureau of Ocean Energy Management

The federal agency that oversees the leasing of offshore oil and gas resources.

BP

The oil and gas company that was the top bidder in the December 2025 lease sale, offering over $60 million for 51 blocks.

Chevron

The oil and gas company that was the second-largest bidder in the December 2025 lease sale, submitting $52 million in bids for 24 blocks.

Woodside Energy

The oil and gas company that was the third-largest bidder in the December 2025 lease sale, offering $38 million in bids.

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What they’re saying

“Seeing these companies using this opportunity to refill those exploration hoppers is really, really exciting because that means in the 2030s we could see some meaningful production come back based on the success of that exploration activity.”

— Caitlin Shaw, Director of Gulf of America research at consultancy Wood Mackenzie

What’s next

The March 11 lease sale will open more than 80 million acres on the Outer Continental Shelf for bidding by energy companies.

The takeaway

The series of offshore lease sales mandated by the Trump administration is expected to generate billions in revenue for the federal government and Gulf Coast states, but the impact on U.S. oil and gas production may not be felt until the 2030s due to the long lead time between leasing and actual production.