The U.S. Interior Department on Friday put forward a proposal to conduct an offshore oil and gas lease sale in Alaska’s Cook Inlet on March 3, 2027. The offering, designated Big Beautiful Cook Inlet 2, would present roughly 1.05 million acres for potential drilling, divided into 224 lease blocks available under the department’s program.
The agency's Marine Minerals Administration described the proposed sale as part of a congressionally mandated program. The administration stated the sale is required by the 2025 tax bill signed under President Donald Trump, which sets a schedule for annual Cook Inlet lease sales from 2026 through 2028 and again from 2030 through 2032.
The March 2027 proposal comes after a previous Cook Inlet sale held in March of this year that failed to attract any interest from industry participants. In that earlier sale, no bids were submitted for the acreage that was offered.
The department’s public notice identifies the acreage total and the number of blocks that would be available if the March 3, 2027 sale moves forward as proposed. The plan reflects the timing and frequency required by the tax bill rather than a discretionary schedule set by the department.
Key procedural elements included in the proposal are the sale date and the block count, together with the acreage total. Beyond those details, the Marine Minerals Administration’s statement emphasizes the statutory requirement underlying the sale schedule set by Congress through the 2025 tax legislation.
The proposal will proceed through the Interior Department’s administrative and regulatory process. Any adjustments to timing, acreage, or other sale mechanics would need to follow the applicable rulemaking and notification steps established by the department and the Marine Minerals Administration.
Context and immediate facts:
- The proposed lease sale date: March 3, 2027.
- Total acreage proposed: approximately 1.05 million acres.
- Number of blocks proposed for lease: 224.
- Legal driver: a 2025 tax bill signed under President Donald Trump that mandates annual Cook Inlet lease sales in specified years (2026-2028 and 2030-2032).
- Recent precedent: a March sale earlier this year drew no bids from industry.