New Data Reveal Significant Increase in Oil and Gas Reserves Discovered in Gulf of America: Interior Department

The department will no longer require an environmental impact statement for approximately 3,244 oil and gas leases in seven Western states.

President Donald Trump speaks to the press before signing a proclamation renaming the Gulf of Mexico as the Gulf of America on board Air Force One en route to New Orleans on Feb. 9, 2025. Roberto Schmidt/AFP via Getty Images

The Department of the Interior has announced a substantial increase in estimated oil and gas reserves in the Gulf of America Outer Continental Shelf.

Recent analysis reveals an additional 1.3 billion barrels of oil equivalent, bringing the total reserve estimate to 7.04 billion barrels of oil equivalent, according to an April 10 statement from the department. A barrel of oil equivalent refers to an amount of energy equivalent to a barrel of oil.