The US Marine Minerals Administration (MMA) has proposed a fourth Gulf of America oil and gas lease sale, with bid opening scheduled for March 10, 2027.
The proposed notice of sale for Lease Sale 4, known as “Big Beautiful Gulf 4” (BBG4), was published on Friday, October 9. It would make available approximately 15,104 blocks not under lease, encompassing 80.4 million acres (32.5 million hectares) within federal waters.
The publication opens a 60-day review period. Governors of affected states and executives of affected local governments may comment on the sale's size, timing and location until December 8. A final notice of sale will be published at least 30 days before bid opening.
The proposed royalty rate is 12.5 per cent in all water depths, the statutory minimum.
Minimum bonus bids are set at $25 per acre ($61.78 per hectare) in water depths under 400 metres and $100 per acre ($247.11 per hectare) at 400 metres or deeper.
The MMA took over the functions of the former Bureau of Ocean Energy Management (BOEM) and the Bureau of Safety and Environmental Enforcement.
Under the 2025 legislation formerly known as the One Big Beautiful Bill Act, the gulf must have 30 or more lease sales through 2040, with two each year by March 15 and August 15.
The Department of the Interior said the first three sales, held in December 2025, March 2026 and August 2026, generated a combined $430 million in high bids.
