KEY TAKEAWAYS:

First Gulf oil and gas lease sale since 2023 drew 219 bids across 1.02 million acres.

Auction held under Trump’s One Big Beautiful Bill Act, mandating 30 offshore sales in 15 years.

High bids totaled $279 million, below the 2023 auction but still led by major global oil companies.

Most bidding targeted proven deepwater areas in the Keathley and Mississippi canyons off the Louisiana coast.

Auction of oil and gas drilling rights in the Gulf of America for the first time since 2023 was held Wednesday in New Orleans, marking a key milestone in the Trump administration’s effort to unleash energy production in federal waters .

Statistical reports on the Bureau of Ocean Energy Management website show 26 companies submitted 219 bids spread across 1.02 million acres, represen

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