The Trump administration will auction offshore drilling rights across the Gulf of Mexico on Dec. 10, the first of 30 such lease sales required under President Donald Trump’s One Big Beautiful Bill Act, the Interior Department said in a notice Friday.
- Roughly 80 million acres in the Gulf will be available under the sale, Interior’s Bureau of Ocean Energy Management said in the notice
- BOEM has set a 12.5% royalty rate—the lowest rate permitted by statute—for both shallow and deepwater leases “to encourage strong industry participation,” according to the notice
- The agency also said it is proposing to make approximately ...