The U.S. Department of the Interior has revised upwards the oil and gas reserves contained in the U.S. section of the Gulf of Mexico, which the Trump administration renamed the Gulf of America.
According to an analysis done by the Bureau of Ocean Energy Management, the U.S. Outer Continental Shelf contains an extra 1.30 billion barrels of oil equivalent, compared to previous estimates done in 2021. This means the total of oil and gas reserves in the area stand at over 7 billion barrels of oil equivalent. This is a 22.6% increase in recoverable reserves compared to earlier estimates, the BOEM said. The net addition in recoverable reserves was calculated by subtracting the total output since 2021—3.09 billion barrels of oil equivalent—from the gross new reserves, estimated at 4.39 billion barrels of oil equivalent.
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As part of its analysis, the Bureau of Ocean Energy Management identified 18 new oil and gas fields in the Gulf, as part of its evaluation of a total 140 oil and gas deposits. The analysis covered more than 37,000 reservoirs across 1,336 fields in the Gulf, the Interior Department said. The new grand total includes 5.77 billion barrels of crude oil and 7.15 trillion cu ft of natural gas.
“This new data confirms what we’ve known all along—America is sitting on a treasure trove of energy, and under President Trump’s leadership, we’re unlocking it,” Secretary of the Interior Doug Burgum said in comments on the news. “The Gulf of America is a powerhouse, and by streamlining permitting and expanding access, we’re not just powering our economy—we’re strengthening our national security and putting thousands of Americans back to work.”
“The Gulf of America is delivering 14% of the nation’s oil,” James Kendall, BOEM Gulf of America Regional Director, said. “These updated estimates reaffirm the Gulf’s vital role in ensuring a reliable, affordable domestic energy supply.”
By Irina Slav for Oilprice.com
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