It would be nice when the speculators set pricing they knew that the US was actively increasing leases for new wells on Federal property.
But no... Brandon is rapidly killing domestic oil exploration.
It’s very possible, even probable, that you can explore all you want and grant leases all you want and 11.6 mbpd is the number you get, because already drilled wells decline their output.
It’s not pure additive. Drill new wells, you don’t necessarily get more oil. The old wells are always dying. If they die faster than the new wells flow, you get decline, not addition, regardless of lease approvals.