Drilling rigs stacked at the Port of Iberia in 2016 reflect the impact an oil industry slump has had on the Louisiana's economy. Effects are still showing up in a second straight annual slump in the state's gross domestic product, a measure of all goods and services produced.

Federal regulators plan to auction about 78 million acres of offshore oil and gas leases in the western, central and eastern Gulf of Mexico next month.

The region-wide lease sale, which is set for Aug. 15, includes all unleased areas in the Gulf’s federal waters, including offshore Louisiana as well as Alabama, Florida, Mississippi and Texas, according to the Bureau of Ocean Energy Management, which regulates offshore drilling and reviews each winning bid.

Lease Sale 251 will include roughly 14,622 blocks, ranging from three to 231 miles offshore, in the Gulf’s western, central and eastern planning areas, with water depths ranging from nine to more than 11,115 feet.

At a March lease sale, oil and gas companies bid on about 1 percent of what was made available, in what the Trump administration described as the largest offshore lease sale in U.S. history. It generated almost $125 million in high bids on 148 offshore tracts.