March 2027 Offshore Oil and Gas Lease Sale Proposed for Cook Inlet

(WO) — The Marine Minerals Administration (MMA) has released a Proposed Notice of Sale offering nearly 1.05 million acres for oil and gas leasing in Alaska’s Cook Inlet, setting the auction date for March 2027.

Designated as Big Beautiful Cook Inlet 2 (BBC2), the proposed auction encompasses 224 blocks in the northern Cook Inlet Planning Area, spanning from the vicinity of Kalgin Island down toward Augustine Island. This footprint mirrors the location of the initial Cook Inlet lease auction conducted in March 2026.

This event represents the second of six required offshore lease sales in Cook Inlet under the Working Families Tax Cut Act of 2025. The statute mandates consecutive annual auctions from 2026 to 2028, followed by another series from 2030 to 2032.

Under the proposed terms, leases feature a 12.5% royalty rate, alongside established minimum bid thresholds, annual rental costs, and specific stipulations designed to manage exploration and production operations.

“Alaska continues to play a vital role in the nation’s energy outlook, with Cook Inlet representing a key component of that potential,” stated MMA Acting Director Mike Olsen. “The BBC2 sale advances MMA’s commitment to maintaining a consistent leasing timeline as directed by Congress.”

A Notice of Availability is slated for publication in the Federal Register on Oct. 13. This will launch a 60-day public comment window allowing the state of Alaska and impacted local authorities to provide input regarding the scale, timing, and boundaries of the proposed sale.

The MMA will evaluate all feedback prior to releasing a Final Notice of Sale, which must be made public a minimum of 30 days ahead of the scheduled March 2027 auction.