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Dallas Fed Energy Survey

Third Quarter |

Historical data are available from first quarter 2016 to the most current release quarter.

Business Indicators: Quarter/Quarter

Business Indicators: All Firms
Current Quarter (versus previous quarter)
IndicatorCurrent IndexPrevious Index% Reporting
Increase
% Reporting
No Change
% Reporting
Decrease

Level of Business Activity

26.7

13.8

44.2

38.3

17.5

Capital Expenditures

11.4

–9.3

34.7

42.0

23.3

Supplier Delivery Time

–0.7

–11.3

6.8

85.6

7.5

Employment

–6.5

–19.7

13.1

67.3

19.6

Employee Hours

–1.9

–16.5

21.1

55.9

23.0

Wages and Benefits

–9.7

–18.4

10.4

69.5

20.1

IndicatorCurrent IndexPrevious Index% Reporting
Improved
% Reporting
No Change
% Reporting
Worsened

Company Outlook

19.6

19.0

41.9

35.8

22.3

Business Indicators: E&P Firms
Current Quarter (versus previous quarter)
IndicatorCurrent IndexPrevious Index% Reporting
Increase
% Reporting
No Change
% Reporting
Decrease

Level of Business Activity

21.4

12.0

40.0

41.4

18.6

Oil Production

–10.2

–19.7

24.6

40.6

34.8

Natural Gas Wellhead Production

–20.6

–24.7

14.7

50.0

35.3

Capital Expenditures

15.1

–21.2

34.8

45.5

19.7

Expected Level of Capital Expenditures in 2017

21.8

25.4

43.5

34.8

21.7

Supplier Delivery Time

–5.9

–12.9

5.9

82.4

11.8

Employment

–13.1

–28.3

4.3

78.3

17.4

Employee Hours

–5.8

–26.9

11.8

70.6

17.6

Wages and Benefits

–12.8

–18.0

8.6

70.0

21.4

Finding and Development Costs

–20.9

–37.9

9.0

61.2

29.9

Lease Operating Expenses

–15.9

–31.3

11.6

60.9

27.5

IndicatorCurrent IndexPrevious Index% Reporting
Improved
% Reporting
No Change
% Reporting
Worsened

Company Outlook

29.5

34.3

47.1

35.3

17.6

Business Indicators: O&G Support Services Firms
Current Quarter (versus previous quarter)
IndicatorCurrent IndexPrevious Index% Reporting
Increase
% Reporting
No Change
% Reporting
Decrease

Level of Business Activity

30.9

15.3

47.6

35.7

16.7

Utilization of Equipment

24.1

–1.2

38.6

47.0

14.5

Capital Expenditures

8.3

0.0

34.5

39.3

26.2

Supplier Delivery Time

3.9

–10.0

7.7

88.5

3.8

Lag Time in Delivery of Firm's Services

0.0

–7.5

6.2

87.7

6.2

Employment

–1.2

–13.0

20.2

58.3

21.4

Employment Hours

1.2

–8.3

28.6

44.0

27.4

Wages and Benefits

–7.1

–18.8

11.9

69.0

19.0

Input Costs

–3.6

–15.5

13.3

69.9

16.9

Prices Received for Services

–23.4

–32.1

9.9

56.8

33.3

IndicatorCurrent IndexPrevious Index% Reporting
Improved
% Reporting
No Change
% Reporting
Worsened

Company Outlook

11.2

6.5

37.5

36.3

26.3

Price Expectations

Price Expectations: Firms
IndicatorCurrent IndexPrevious Index% Reporting
Higher
% Reporting
Same
% Reporting
Lower

Expected Oil Price a Year from Now

58.5

72.4

61.7

26.6

3.2

Expected Natural Gas Price a Year from Now

45.0

51.0

48.3

38.4

3.3

Price Expectations: E&P Firms
IndicatorCurrent IndexPrevious Index% Reporting
Higher
% Reporting
Same
% Reporting
Lower

Expected Oil Price a Year from Now

62.8

73.1

67.1

22.9

4.3

Expected Natural Gas Price a Year from Now

36.7

60.6

42.6

45.6

5.9

Price Expectations: O&G Support Services Firms
IndicatorCurrent IndexPrevious Index% Reporting
Higher
% Reporting
Same
% Reporting
Lower

Expected Oil Price a Year from Now

54.7

71.8

57.1

29.8

2.4

Expected Natural Gas Price a Year from Now

51.8

43.4

53.0

32.5

1.2

Business Indicators: Year/Year

Business Indicators: All Firms
Current Quarter (versus same quarter a year ago)
IndicatorCurrent IndexPrevious Index% Reporting
Increase
% Reporting
No Change
% Reporting
Decrease

Level of Business Activity

–8.7

–41.4

36.2

18.8

44.9

Capital Expenditures

–12.7

–53.1

31.3

24.6

44.0

Supplier Delivery Time

–6.1

–20.0

8.4

77.1

14.5

Employment

–29.4

–42.0

11.8

47.1

41.2

Employee Hours

–23.1

–38.5

15.7

45.5

38.8

Wages and Benefits

–25.6

–37.2

10.9

52.6

36.5

IndicatorCurrent IndexPrevious Index% Reporting
Improved
% Reporting
No Change
% Reporting
Worsened

Company Outlook

0.8

–17.0

39.1

22.7

38.3

Business Indicators: E&P Firms
Current Quarter (versus same quarter a year ago)
IndicatorCurrent IndexPrevious Index% Reporting
Increase
% Reporting
No Change
% Reporting
Decrease

Level of Business Activity

–4.8

–32.3

33.3

28.6

38.1

Oil Production

–22.9

–36.0

24.6

27.9

47.5

Natural Gas Wellhead Production

–18.0

–30.6

21.3

39.3

39.3

Capital Expenditures

–6.7

–55.5

33.3

26.7

40.0

Expected Level of Capital Expenditures in 2017

3.3

–19.0

36.1

31.1

32.8

Supplier Delivery Time

–6.7

–18.4

8.3

76.7

15.0

Employment

–30.6

–35.4

8.1

53.2

38.7

Employee Hours

–19.3

–25.0

11.3

58.1

30.6

Wages and Benefits

–12.7

–30.8

12.7

61.9

25.4

Finding and Development Costs

–45.0

–57.8

5.0

45.0

50.0

Lease Operating Expenses

–39.4

–53.1

9.8

41.0

49.2

IndicatorCurrent IndexPrevious Index% Reporting
Improved
% Reporting
No Change
% Reporting
Worsened

Company Outlook

17.0

–3.2

47.5

22.0

30.5

Business Indicators: O&G Support Services Firms
Current Quarter (versus same quarter a year ago)
IndicatorCurrent IndexPrevious Index% Reporting
Increase
% Reporting
No Change
% Reporting
Decrease

Level of Business Activity

–12.0

–48.7

38.7

10.7

50.7

Utilization of Equipment

–17.8

–56.4

30.1

21.9

47.9

Capital Expenditures

–17.6

–51.2

29.7

23.0

47.3

Supplier Delivery Time

–5.6

–21.4

8.5

77.5

14.1

Lag Time in Delivery of Firm's Services

–7.0

–18.7

8.3

76.4

15.3

Employment

–28.3

–47.5

14.9

41.9

43.2

Employment Hours

–26.4

–49.4

19.4

34.7

45.8

Wages and Benefits

–36.4

–42.5

9.5

44.6

45.9

Input Costs

–20.5

–47.4

13.7

52.1

34.2

Prices Received for Services

–43.6

–56.6

11.3

33.8

54.9

IndicatorCurrent IndexPrevious Index% Reporting
Improved
% Reporting
No Change
% Reporting
Worsened

Company Outlook

–13.0

–28.4

31.9

23.2

44.9

Questions regarding the Dallas Fed Energy Survey can be addressed to Michael Plante at Michael.Plante@dal.frb.org.

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