Gulf of America Lease Sale 'Another Vote of Confidence in American Energy'

WASHINGTON, August 12, 2026 - The American Petroleum Institute (API) today issued the following statement from Vice President of Upstream Policy Holly Hopkins after the Department of the Interior's Marine Minerals Administration held Lease Sale BBG3 in the Gulf of America.

"Today's third successful Gulf of America lease sale is another vote of confidence in American energy and reflects the long-term investment certainty Congress and Secretary Burgum have restored. At a time of global energy disruption, our industry is continuing to invest in the future supply America and our allies will depend on for decades to come. Continued leasing opportunities in the Gulf, including through the proposed five-year offshore program, can sustain that investment and strengthen long-term energy security."

Lease Sale BBG3 is the third 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.

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.

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