Outer Continental Shelf Lease Restoration Act of 2026

This legislation, known as the Outer Continental Shelf Lease Restoration Act of 2026, outlines a comprehensive framework for the disposition of offshore wind energy lease areas that have been surrendered, terminated, or relinquished on or after January 20, 2025. It defines "surrender" broadly to include various forms of termination and establishes specific procedures for reallocating these areas to ensure continued wind energy development. The primary mechanism involves offering these terminated lease areas to holders of adjacent leases. These adjacent leaseholders gain the right to acquire the areas, or their apportioned shares, at a price based on the original per-acre minimum bid. Upon payment, the lease is automatically issued and vested, subject to the same terms as the existing adjacent lease, and prior environmental reviews are ratified to expedite the process. If an adjacent leaseholder declines to acquire the offered area, or if an area remains unclaimed, it is returned to the inventory for future leasing under the Outer Continental Shelf Lands Act. The Secretary of the Interior is mandated to offer these unclaimed areas for lease within 90 days, using the same terms and conditions as their most recent prior offering. Crucially, any entity that originally surrendered a lease is explicitly ineligible to reacquire or bid on that terminated lease area. A significant provision of the bill imposes a moratorium on new oil and gas leasing and permitting on the Outer Continental Shelf. This prohibition remains in effect until all conveyances to adjacent leaseholders are finalized and all unclaimed terminated wind lease areas have been offered for lease. The bill also specifies that these actions do not reinstate prior leases or entitle surrendering entities to additional payments, and it limits judicial review to the D.C. Circuit Court of Appeals for claims of invalidity or actions exceeding authority.