The majority of U.S. oil and gas companies expect permitting on federal lands to become a lot easier under President Trump. According to a 2024 survey, 68 percent of oil and gas executives believed that receiving drilling permits for federal lands would become faster.
Most promising oil basins outside of federal lands
The majority of oil and gas in the U.S. is produced from private lands, with most federal land leases being related to drilling offshore in the Gulf of Mexico. The Bakken and Permian basins lead in new-well oil production per rig. The Permian Basin, spanning Texas and New Mexico, remains the largest oil-producing region overall. Despite this productivity, the total number of operational U.S. oil and gas rigs generally decreased throughout the second half of 2024, reflecting moderate demand outlooks.
U.S. producers expected to spend more in 2025
Despite uncertainty over oil demand, the industry expressed willingness to increase spending in 2025. A 2024 survey indicates that 57 percent of oil and gas executives anticipate increased capital expenditure in 2025 compared to 2024 levels. Much of this spending is expected to go toward strengthening existing endeavors.
Opinion of oil and gas executives on changes in permitting times for federal land well drilling in the United States under President Trump between 2025 and 2029
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Dallas Fed. (January 1, 2025). Opinion of oil and gas executives on changes in permitting times for federal land well drilling in the United States under President Trump between 2025 and 2029 [Graph]. In Statista. Retrieved May 18, 2025, from https://www.statista.com/statistics/1557045/us-federal-land-drilling-permitting-time-change/
Dallas Fed. "Opinion of oil and gas executives on changes in permitting times for federal land well drilling in the United States under President Trump between 2025 and 2029." Chart. January 1, 2025. Statista. Accessed May 18, 2025. https://www.statista.com/statistics/1557045/us-federal-land-drilling-permitting-time-change/
Dallas Fed. (2025). Opinion of oil and gas executives on changes in permitting times for federal land well drilling in the United States under President Trump between 2025 and 2029. Statista. Statista Inc.. Accessed: May 18, 2025. https://www.statista.com/statistics/1557045/us-federal-land-drilling-permitting-time-change/
Dallas Fed. "Opinion of Oil and Gas Executives on Changes in Permitting times for Federal Land Well Drilling in The United States under President Trump between 2025 and 2029." Statista, Statista Inc., 1 Jan 2025, https://www.statista.com/statistics/1557045/us-federal-land-drilling-permitting-time-change/
Dallas Fed, Opinion of oil and gas executives on changes in permitting times for federal land well drilling in the United States under President Trump between 2025 and 2029 Statista, https://www.statista.com/statistics/1557045/us-federal-land-drilling-permitting-time-change/ (last visited May 18, 2025)
Opinion of oil and gas executives on changes in permitting times for federal land well drilling in the United States under President Trump between 2025 and 2029 [Graph], Dallas Fed, January 1, 2025. [Online]. Available: https://www.statista.com/statistics/1557045/us-federal-land-drilling-permitting-time-change/
