MMA proposes 1.05 million acres for second Cook Inlet sale in March 2027Analysis

The Marine Minerals Administration (MMA) has put forward terms for the second of its congressionally mandated Cook Inlet lease sales: about 1.05 million acres, 224 blocks, a 12.5 percent royalty rate and a sale date of March 2027. The proposal, called Big Beautiful Cook Inlet 2 or BBC2, is a draft. It now goes through a comment period before anything is final.

What the proposed notice covers

BBC2 would offer the same northern part of the Cook Inlet Planning Area that was offered in the Big Beautiful Cook Inlet 1 sale, held in March 2026. The 224 blocks run roughly from Kalgin Island in the north to Augustine Island in the south.

The Proposed Notice of Sale sets out the size, timing and location of the sale. It also lists lease stipulations, terms and conditions, minimum bids, royalty rates and rental rates. MMA says the 12.5 percent royalty rate is meant to encourage strong industry participation and support investment in domestic energy production.

A schedule fixed by statute

The sale exists because of the Working Families Tax Cut Act of 2025. The law requires MMA to hold at least six offshore oil and gas lease sales in the Cook Inlet Planning Area. One is due each year from 2026 through 2028, and one each year from 2030 through 2032.

That makes BBC2 the second of six, and it leaves 2029 as the one year in that run without a required sale. Because the calendar is set by law, the open questions around each sale are the terms and the response from bidders, not whether it happens.

MMA Acting Director Mike Olsen said "Alaska remains central to America's energy future." He described BBC2 as part of a predictable leasing schedule that supports domestic production and gives the State of Alaska, local governments and industry a transparent process.

The review steps ahead

MMA will send the Proposed Notice of Sale to the governor of Alaska and publish a Notice of Availability in the Federal Register on Oct. 13. That starts a 60-day review period. The state and affected local governments can use it to comment on the size, timing and location of the proposed sale.

MMA will weigh those comments and recommendations before it issues a Final Notice of Sale. The final notice will appear in the Federal Register at least 30 days before the scheduled bid opening. Maps, instructions and more detail are posted at www.boem.gov/bbc2.

Our read

The terms are the part to study. Acreage and location match the first sale, so the royalty rate, minimum bids and rental rates are where this proposal can differ in practice from BBC1. Those figures are still open to change after the comment period.