The Outer Continental Shelf Lands Act (OCS Lands Act) grants the Secretary the authority to issue leases on the OCS. Section 18(a)(4) of the OCS Lands Act states that "Leasing activities shall be conducted to assure receipt of fair market value for the lands leased and the rights conveyed by the Federal Government." Lessees pay bonuses, rentals, and royalties reflecting the value of the rights to explore and potentially develop and produce OCS oil and gas resources.
- Oil and Gas Fiscal Terms
- Bid Adequacy Procedures
- Summary of Procedures for Determining Bid Adequacy at Offshore Oil and Gas Lease Sales: Effective March 2016, with Central Gulf of Mexico Sale 241 and Eastern Gulf of Mexico Sale 226
- Comparative Assessment of the Federal Oil and Gas Fiscal System Reports
- Areawide Leasing Study
- Renewable Energy Lease Sales