Curtailed oil and natural gas drilling on federal property under a Joseph R. Biden Jr. presidency would mainly affect production of onshore natural gas and offshore oil, according to new analysis by Moody’s Investors Service.

federal lease oil and gas production

Onshore acreage accounted for 69% of natural gas output from federal leases in 2019, while the Gulf of Mexico (GOM) supplied 64% of oil produced on federal property, said John Thieroff, senior analyst for the Moody’s oil and gas team, in a note published Tuesday.

Federal leases accounted for more than 20% of the country’s combined oil and gas supply for the full year.

“The mix of onshore producers is much broader than offshore, with major oil companies operating alongside such independent exploration and production [E&P] companies as EOG...