Oil & Gas Producers NAICS 2111

Nov 27, 2025 - Trump Plans Huge Oil and Gas Drilling Expansion

• The Trump administration has unveiled a draft plan to dramatically expand offshore oil and gas drilling, proposing as many as 34 lease sales across 21 regions, including California, the Gulf of Mexico, Alaska, and the Arctic, S&P Global reported in November. Trump’s reversal of prior restrictions could unlock billions of barrels of federal offshore reserves, boosting long-term production capacity. Oil industry groups broadly praised the move, framing it as essential to restoring US energy dominance, lowering costs, and creating jobs. For producers, the plan offers greater access to high-potential, previously off-limits areas, raising the prospect of higher output and capital investment. However, the administration’s move to drill in environmentally-sensitive areas is expected to face strong political pushback from environmentalists and coastal states. California Attorney General Rob Bonta said his office fully opposes the plan.
• Organized theft targeting oilfield sites in Texas, especially in the Permian Basin, has triggered a statewide response, OilPrice.com reports. Criminal groups have moved beyond nuisance crimes like tool multimillion dollar heists including stealing full tanker-loads of produced oil, pumpjacks, and critical infrastructure. In response, the Railroad Commission of Texas and the state legislature launched a dedicated task force (STOPTHEFT) to investigate and guard against petroleum product theft, emphasizing that it threatens operations, tax revenues, and state economic security, according to OilPrice.com. The heightened enforcement could deter theft-related losses, but many operators will need to invest in stronger safeguards to protect assets. Per the latest quarterly Dallas Fed Energy Survey, 41% of exploration and production company executives said their operations have been impacted by theft in the oil field in the past year.

• The Environmental Protection Agency in September proposed eliminating the Greenhouse Gas Reporting Program (GHGRP) for the oil and gas industry and other large emitters, Oil & Gas Journal reports. The program requires oil and gas companies and other major polluters to track their annual emissions from over 8,000 facilities, including refineries, compressor stations, and power plants. The agency proposes removing all greenhouse gas reporting requirements except those subject to the Waste Emissions Program (WEP). However, Congress pushed back the WEP reporting requirement, designed to penalize oil and gas companies that emit more than 25,000 tons/year of CO2 equivalent, to 2034 as part of President Trump’s recent tax bill. EPA administrator Lee Zeldin, citing Trump’s anti-climate executive actions, described the GHGRP as unnecessary bureaucracy and estimated that ending it could save businesses up to $2.4 billion in compliance costs over the next decade.
• Producer prices for oil and gas extraction firms declined 7.6% in August compared to a year ago, after falling 8.8% in the previous August-versus-August annual comparison, according to the latest US Bureau of Labor Statistics data. Industry producer prices are highly volatile, plunging 120% in August 2025 from their peak in June 2022, after soaring nearly 600% between April 2020 and June 2022. Employment by oil and gas extraction firms shrank 2.7% year over year in August, while the average industry wage inched up 0.8% in July to $43.13 per hour, down $1.75 from its peak in May of last year, BLS data show.