(WO) — The Marine Minerals Administration (MMA) has issued a Proposed Notice of Sale for approximately 1.05 million acres of offshore oil and gas leases in Alaska’s Cook Inlet, with the auction scheduled for March 2027.
The proposed sale, known as Big Beautiful Cook Inlet 2 (BBC2), would offer 224 blocks in the northern Cook Inlet Planning Area, extending roughly from Kalgin Island to Augustine Island. The acreage is the same area offered in the first Cook Inlet lease sale held in March 2026.
The sale is the second of six Cook Inlet offshore lease sales mandated under the Working Families Tax Cut Act of 2025. The legislation requires annual sales from 2026 through 2028 and again from 2030 through 2032.
The proposed lease terms include a 12.5% royalty rate, along with minimum bids, rental rates and other conditions intended to govern exploration and development activities.
“Alaska remains central to America’s energy future, and Cook Inlet is an important part of that opportunity,” said MMA Acting Director Mike Olsen. “The BBC2 sale continues MMA’s work to carry out a predictable, congressionally mandated leasing schedule.”
MMA plans to publish a Notice of Availability in the Federal Register on Oct. 13, beginning a 60-day review period during which Alaska and affected local governments can submit comments on the proposed sale’s size, timing and location.
The agency will consider those comments before issuing a Final Notice of Sale, which must be published at least 30 days before the scheduled bid opening in March 2027.
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