Outer Continental Shelf Energy Relief Act - Declares that all provisions of existing federal law prohibiting the spending of appropriated funds to conduct natural gas leasing and preleasing activities for any area of the Outer Continental Shelf have no force or effect.
Revokes all existing withdrawals made by the President under the authority of the Outer Continental Shelf Lands Act (OCSLA).
States such withdrawals are no longer in effect with respect to natural gas leasing, exploration, development or production.
Amends the OCSLA leasing program to instruct the Secretary, in each five-year program, to include lease sales that when viewed as a whole propose to offer for gas leasing at least 75% of the available unleased acreage within each OCS Planning Area.
Prescribes guidelines for sharing with certain coastal states bonus bid and royalty revenues received from existing and future federal gas leases on lands located within state seaward boundaries.
Authorizes the Secretary to issue leases for development and production only of natural gas and associated condensate (natural gas-only leasing).