Event brought together industry, state, and federal leaders on the eve of BOEM’s Big Beautiful Gulf 3 sale
NEW ORLEANS — Louisiana Future Energy, Louisiana Oil & Gas Association (LOGA), Louisiana Mid-Continent Oil & Gas Association (LMOGA), and National Ocean Industries Association (NOIA) hosted the Gulf Coast Energy Forum Tuesday, bringing together energy executives, policymakers, and industry stakeholders in New Orleans one day before the Bureau of Ocean Energy Management (BOEM) opened bids on its third Gulf of America oil and gas lease sale of 2026.
“Yesterday’s forum made one thing clear: Louisiana and the Gulf are central to the energy future of the nation and the world,” said Michael Hecht, President and CEO of Greater New Orleans, Inc. “Executives, regulators, and elected officials came to Louisiana because this is where the next decade of energy investment gets decided. BOEM’s third sale of the year is another chance for the state and region to deliver for the country and globe.”
BOEM opened up the public bid reading for Lease Sale Big Beautiful Gulf 3 (BBG3) today, making roughly 80.4 million acres and about 15,100 unleased blocks available for leasing across the Gulf’s Western, Central, and Eastern planning areas. The sale is the third of 30 Gulf lease sales required under the One Big Beautiful Bill Act, part of a predictable leasing schedule intended to expand domestic energy production and reinforce U.S. energy security.
“Today our LOGA members, both operators and service companies alike, celebrate the Trump Administration’s commitment to the Gulf of America’s oil & gas production,” said Mike Moncla, President, Louisiana Oil & Gas Association (LOGA). “These are expensive, long-term investments and without consistent and predictable policy operator’s ability to invest diminishes along with thousands of offshore jobs here in Louisiana. With the gulf’s production representing 15% of the nation’s total output, continued lease sales are of the utmost importance.”
For a region that has powered American energy production for more than 70 years, BBG3 sends a clear signal: the Gulf of America is still producing, still attracting investment, and still positioning the U.S. to lead on global energy security. Tuesday’s forum captured that momentum and put Louisiana’s role in the national energy conversation on full display.
“Louisiana is an energy state, and the companies that operate here are leaders in assuring the United States is an energy leader,” said Tommy Faucheux, President, LMOGA. “Gulf of America energy not only meets the needs of economies around the world, but it also employs generations of Louisianians and supports numerous local economies.”
Panel discussions throughout the afternoon centered on turning policy into production: the regulatory steps between a lease sale and first oil, what a predictable leasing calendar means for supply chains and capital investment, and how state and federal coordination is shaping the pace of Gulf development. A luncheon was held in conjunction with the program.
Program participants included:
- U.S. Rep. Julia Letlow (LA-05)
- Kate MacGregor, Deputy Secretary, U.S. Department of the Interior
- Matthew Giancona, Acting Director, Marine Minerals Administration
- Dustin Davidson, Secretary of Energy, Louisiana
- Rick Tallant, EVP of Supply Chain and Contracting & Procurement, Shell
- Neil Menzies, VP, Gulf of America, Chevron
- Michael Vallejo, President & CFO, Arena Energy
- Eric Zimmermann, COO, LLOG Exploration
- Michael Hecht, President & CEO, GNO, Inc.
- Erik Milito, President, NOIA
- Mike Moncla, President, LOGA
- Tommy Faucheux, President, LMOGA
- Tim Charters, Director of Upstream Policy, American Petroleum Institute
“The people of Louisiana have worked in Gulf exploration and production for generations, and we take pride in our shared history with the offshore industry, providing the fuel and feedstock our nation needs,” said Dustin Davidson, Secretary of the Louisiana Department of Conservation and Energy. “The resources of the Gulf of America have been and continue to be a mainstay in our state and nation’s role as global energy leaders.”
BOEM estimates the Gulf’s Outer Continental Shelf holds 26.9 billion barrels of undiscovered, technically recoverable oil and 45.59 trillion cubic feet of natural gas. Blocks available in BBG3 range from three to 231 miles offshore, in water depths from nine feet to more than 11,100 feet.
“The Gulf of America has the resources, infrastructure, workforce, and expertise to attract investment, grow production, and help keep American energy affordable and our nation secure,” said Erik Milito, President, National Ocean Industries Association (NOIA).
“This forum brought together the leaders making the decisions that will drive the next generation of offshore investment, jobs, and energy production. The message was clear: long-term certainty and collaboration are essential to keeping the Gulf of America a global energy leader for decades to come.”
BOEM is expected to release final bid totals for BBG3 in the hours following Wednesday’s bid reading. The numbers will offer the clearest read yet on investor appetite under the One Big Beautiful Bill Act’s 30-sale schedule, after BBG1 drew $300 million in high bids from 30 companies in December and BBG2 drew just $47 million from 13 companies in March.
Leaders who gathered Tuesday argued the program’s value isn’t any single sale’s total, but the certainty a fixed leasing calendar gives operators planning projects that run years past a single bid reading.
About Greater New Orleans, Inc.
GNO, Inc. is the regional economic development organization for Southeast Louisiana. GNO, Inc.’s mission is to create a Greater New Orleans with a thriving economy and an excellent quality of life, for everyone. More information can be found at www.gnoinc.org.