Surveys

Dallas Fed Energy Survey

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)
Indicator	Current Index	Previous Index	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Level of Business Activity	–42.1	N/A	13.9	30.1	56.0
Capital Expenditures	–46.6	N/A	12.9	27.6	59.5
Supplier Delivery Time	–7.0	N/A	8.2	76.6	15.2
Employment	–38.0	N/A	9.0	44.0	47.0
Employee Hours	–26.8	N/A	11.6	50.0	38.4
Wages and Benefits	–26.0	N/A	7.3	59.4	33.3

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	–24.5	N/A	18.9	37.7	43.4

Business Indicators: E&P Firms Current Quarter (versus previous quarter)
Indicator	Current Index	Previous Index	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Level of Business Activity	–38.7	N/A	12.0	37.3	50.7
Oil Production	–49.4	N/A	9.3	32.0	58.7
Natural Gas Wellhead Production	–47.8	N/A	9.9	32.4	57.7
Capital Expenditures	–53.4	N/A	8.2	30.1	61.6
Expected Level of Capital Expenditures in 2017	–14.6	N/A	26.7	32.0	41.3
Supplier Delivery Time	–8.5	N/A	5.6	80.3	14.1
Employment	–34.7	N/A	9.3	46.7	44.0
Employee Hours	–17.3	N/A	10.7	61.3	28.0
Wages and Benefits	–22.7	N/A	8.0	61.3	30.7
Finding and Development Costs	–50.0	N/A	4.1	41.9	54.1
Lease Operating Expenses	–48.7	N/A	2.7	45.9	51.4

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	–11.1	N/A	22.2	44.4	33.3

Business Indicators: O&G Support Services Firms Current Quarter (versus previous quarter)
Indicator	Current Index	Previous Index	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Level of Business Activity	–45.0	N/A	15.4	24.2	60.4
Utilization of Equipment	–52.9	N/A	8.0	31.0	60.9
Capital Expenditures	–41.1	N/A	16.7	25.6	57.8
Supplier Delivery Time	–5.8	N/A	10.3	73.6	16.1
Lag Time in Delivery of Firm's Services	–7.2	N/A	3.6	85.5	10.8
Employment	–40.7	N/A	8.8	41.8	49.5
Employment Hours	–34.8	N/A	12.4	40.4	47.2
Wages and Benefits	–28.9	N/A	6.7	57.8	35.6
Input Costs	–30.7	N/A	5.7	58.0	36.4
Prices Received for Services	–58.3	N/A	1.2	39.3	59.5

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	–35.6	N/A	16.1	32.2	51.7

Price Expectations: Firms
Indicator	Current Index	Previous Index	% Reporting Higher	% Reporting Same	% Reporting Lower
Expected Oil Price a Year from Now	74.1	N/A	76.5	17.5	2.4
Expected Natural Gas Price a Year from Now	43.3	N/A	45.1	47.6	1.8

Price Expectations: E&P Firms
Indicator	Current Index	Previous Index	% Reporting Higher	% Reporting Same	% Reporting Lower
Expected Oil Price a Year from Now	74.3	N/A	78.4	14.9	4.1
Expected Natural Gas Price a Year from Now	48.6	N/A	51.4	44.4	2.8

Price Expectations: O&G Support Services Firms
Indicator	Current Index	Previous Index	% Reporting Higher	% Reporting Same	% Reporting Lower
Expected Oil Price a Year from Now	73.9	N/A	75.0	19.6	1.1
Expected Natural Gas Price a Year from Now	39.1	N/A	40.2	50.0	1.1

Business Indicators: All Firms Current Quarter (versus same quarter a year ago)
Indicator	Current Index	Previous Index	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Level of Business Activity	–68.9	N/A	10.6	9.9	79.5
Capital Expenditures	–66.9	N/A	10.0	13.1	76.9
Supplier Delivery Time	–10.4	N/A	11.7	66.2	22.1
Employment	–51.2	N/A	9.3	30.2	60.5
Employee Hours	–41.5	N/A	10.7	37.1	52.2
Wages and Benefits	–34.4	N/A	9.4	46.9	43.8

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	–60.0	N/A	12.7	14.7	72.7

Business Indicators: E&P Firms Current Quarter (versus same quarter a year ago)
Indicator	Current Index	Previous Index	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Level of Business Activity	–67.1	N/A	9.6	13.7	76.7
Oil Production	–48.7	N/A	16.2	18.9	64.9
Natural Gas Wellhead Production	–37.1	N/A	20.0	22.9	57.1
Capital Expenditures	–64.4	N/A	12.3	11.0	76.7
Expected Level of Capital Expenditures in 2017	–32.9	N/A	21.9	23.3	54.8
Supplier Delivery Time	–14.5	N/A	10.1	65.2	24.6
Employment	–50.0	N/A	8.1	33.8	58.1
Employee Hours	–31.5	N/A	11.0	46.6	42.5
Wages and Benefits	–23.3	N/A	9.6	57.5	32.9
Finding and Development Costs	–67.2	N/A	6.8	19.2	74.0
Lease Operating Expenses	–62.2	N/A	8.1	21.6	70.3

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	–47.8	N/A	16.4	19.4	64.2

Business Indicators: O&G Support Services Firms Current Quarter (versus same quarter a year ago)
Indicator	Current Index	Previous Index	% Reporting Increase	% Reporting No Change	% Reporting Decrease
Level of Business Activity	–70.4	N/A	11.4	6.8	81.8
Utilization of Equipment	–76.2	N/A	4.8	14.3	81.0
Capital Expenditures	–69.0	N/A	8.0	14.9	77.0
Supplier Delivery Time	–7.1	N/A	12.9	67.1	20.0
Lag Time in Delivery of Firm's Services	–13.7	N/A	6.3	73.8	20.0
Employment	–52.3	N/A	10.2	27.3	62.5
Employment Hours	–50.0	N/A	10.5	29.1	60.5
Wages and Benefits	–43.7	N/A	9.2	37.9	52.9
Input Costs	–45.3	N/A	9.5	35.7	54.8
Prices Received for Services	–70.9	N/A	2.5	24.1	73.4

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	–69.9	N/A	9.6	10.8	79.5

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