Gulf Of America Lease Sale 'A New Generation Of Opportunity' For Offshore Energy Development

The American Petroleum Institute (API) today released the following statement from Vice President of Upstream Policy Holly Hopkins after the Department of the Interior’s Bureau of Ocean Energy Management held Lease Sale BBG1 in the Gulf of America.

“We applaud Secretary Burgum and Congress for restoring a clear path for long-term investment in the Gulf of America that strengthens U.S. energy leadership and security. After two years of unnecessary delay in federal offshore leasing, today’s sale marks the beginning of a new generation of opportunity for safe, responsible development in the Gulf."

Lease Sale BBG1 will be the first federal offshore oil and natural gas lease sale since 2023, and the first of 30 Gulf of America lease sales required by the 2025 reconciliation bill.

The Gulf of America is the nation’s primary source of offshore oil and natural gas production, accounting for 97% of all oil and natural gas production in offshore waters. Today, 14% of total U.S. crude oil production and 2% of natural gas production comes from the Gulf of America. A report from the National Ocean Industries Association found that the Gulf of America also produces some of the lowest carbon intensity barrels in the world.

About API
The American Petroleum Institute (API) represents all segments of America’s oil and natural gas industry, supporting nearly 11 million U.S. jobs. With approximately 600 members, API companies produce, process, and distribute the majority of the nation’s energy. Founded in 1919, API has developed over 800 standards to enhance operational and environmental safety, efficiency, and sustainability.