Life cycle assessment (LCA) is a robust tool for evaluating the environmental impacts of products, processes, and systems throughout their entire life cycle. This article presents a comprehensive investigation into the potential of LCA in drilling methods. The growing emphasis on sustainable and environmentally responsible drilling practices is becoming a critical concern in the drilling industry. As demand for natural resources continues to rise, the need for accurate assessments of the environmental impacts associated with various drilling methods becomes increasingly essential. LCA offers a holistic perspective on all key stages of the drilling industry, providing reliable data and serving as a valuable resource for informed decision‐making aimed at promoting sustainable and optimized drilling techniques. This article delves into the challenges and complexities surrounding LCA evaluations in the context of drilling operations. It underscores the importance of LCA in enhancing the management of drilling cuttings, waste, and surplus materials generated during drilling activities, as well as the effective handling of drilling mud. Additionally, it highlights the critical issue of groundwater contamination resulting from drilling operations. By presenting a holistic view of the life cycle of drilling products and processes, the article offers practical insights into improving and optimizing drilling techniques and waste management strategies. Moreover, the article examines the challenges and potential solutions associated with implementing LCA in these areas. It aims to support responsible and informed decision‐making, ultimately leading to improved drilling performance and enhanced environmental management.