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Dallas Fed Energy Survey

First 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

–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

IndicatorCurrent IndexPrevious 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)
IndicatorCurrent IndexPrevious 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

IndicatorCurrent IndexPrevious 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)
IndicatorCurrent IndexPrevious 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

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

Company Outlook

–35.6

N/A

16.1

32.2

51.7

Price Expectations

Price Expectations: Firms
IndicatorCurrent IndexPrevious 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
IndicatorCurrent IndexPrevious 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
IndicatorCurrent IndexPrevious 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: 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

–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

IndicatorCurrent IndexPrevious 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)
IndicatorCurrent IndexPrevious 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

IndicatorCurrent IndexPrevious 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)
IndicatorCurrent IndexPrevious 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

IndicatorCurrent IndexPrevious 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.

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