The Coast Guard's findings - to be released in a report Friday - are in contrast to reports from independent scientists who say oil has extensively damaged the seafloor.
"We are not finding any recoverable amounts of oil," Rear Adm. Paul Zukunft told The Associated Press. "We are finding traces of oil."
He says the concentrations fall far short of harmful levels under federal pollution laws.
One site about a mile from the capped BP PLC well a mile under the Gulf has a higher concentration.
Zukunft says no technology exists to collect it at that depth though it will be monitored.