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H.R. 5616, the Bringing Reliable Investment into Domestic Gulf Energy Production Act of 2023

The Gulf of Mexico Region on the Outer Continental Shelf (OCS) is a world-class oil and gas basin and its original reserves include 26.77 billion barrels of oil and 197 trillion cubic feet of gas from 1,325 oil and gas fields. As of March 2022, 15% of U.S. oil production and 1% of natural gas production comes from Federal OCS leases in the Gulf of Mexico, with more resources yet to be discovered.

On May 11, 2022, the Biden administration canceled three oil and gas lease sales scheduled in the Gulf of Mexico and off the coast of Alaska, removing millions of acres from possible drilling at a time when gas prices reached record highs. The administration also issued the worst 5-year offshore leasing plan in history, a whopping year and a half late.

H.R. 5616, the BRIDGE Production Act, mandates at least four offshore oil and gas sales to be held in 2024 and 2025, setting specific terms and reducing regulatory burdens to address delays by the Biden administration in publishing a 5-year OCS leasing plan.

Legislation

    H.R. 5616, the Bringing Reliable Investment into Domestic Gulf Energy (BRIDGE) Production Act of 2023, Introduced by U.S. Rep. Garret Graves (R-La.)

    Press Releases

      Committee Advances Legislation Protecting National Parks, Supporting Wildlife and Energy Independence

      Committee Considers Legislation to Support Domestic Energy Security, Increase Production

      Resources

      Hearing Memo on H.R. 5616

      Hearings and Markups

      Markup on H.R. 5616