Trump’s Third ‘Big Beautiful’ Gulf Lease Sale Draws $82.7 Million in High Bids

The Trump administration’s third “Big Beautiful” offshore oil and gas lease sale generated $82.7 million in high bids Wednesday, marking a rebound from a weak March auction but remaining well below the program’s inaugural sale late last year.

Lease Sale Big Beautiful Gulf 3, or BBG3, attracted 69 bids from 16 companies covering 59 blocks in federal waters of the Gulf of America, according to the Department of the Interior. Total bids reached $99.5 million.

The results represent a notable improvement from Lease Sale BBG2 in March, which generated just $46.98 million in high bids from 13 companies for 25 blocks.