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	40.1	26.7	51.0	38.1	10.9
Capital Expenditures	27.4	11.4	45.9	35.6	18.5
Supplier Delivery Time	0.7	–0.7	7.1	86.4	6.4
Employment	3.4	–6.5	18.4	66.7	15.0
Employee Hours	13.7	–1.9	24.7	64.4	11.0
Wages and Benefits	10.3	–9.7	24.8	60.7	14.5

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	57.1	19.6	65.0	27.1	7.9

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	40.3	21.4	49.3	41.8	9.0
Oil Production	9.0	–10.2	28.4	52.2	19.4
Natural Gas Wellhead Production	3.1	–20.6	23.1	56.9	20.0
Capital Expenditures	31.8	15.1	48.5	34.8	16.7
Expected Level of Capital Expenditures in 2017	41.8	21.8	53.7	34.3	11.9
Supplier Delivery Time	3.1	–5.9	9.4	84.4	6.3
Employment	–1.5	–13.1	13.4	71.6	14.9
Employee Hours	1.5	–5.8	13.6	74.2	12.1
Wages and Benefits	4.5	–12.8	19.7	65.2	15.2
Finding and Development Costs	–1.5	–20.9	12.1	74.2	13.6
Lease Operating Expenses	14.0	–15.9	28.1	57.8	14.1

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	67.2	29.5	72.1	23.0	4.9

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	40.0	30.9	52.5	35.0	12.5
Utilization of Equipment	35.9	24.1	46.2	43.6	10.3
Capital Expenditures	23.8	8.3	43.8	36.3	20.0
Supplier Delivery Time	–1.3	3.9	5.3	88.2	6.6
Lag Time in Delivery of Firm's Services	0.0	0.0	8.0	84.0	8.0
Employment	7.5	–1.2	22.5	62.5	15.0
Employment Hours	23.8	1.2	33.8	56.3	10.0
Wages and Benefits	15.2	–7.1	29.1	57.0	13.9
Input Costs	13.1	–3.6	19.7	73.7	6.6
Prices Received for Services	6.8	–23.4	20.3	66.2	13.5

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	49.4	11.2	59.5	30.4	10.1

Price Expectations: Firms
Indicator	Current Index	Previous Index	% Reporting Higher	% Reporting Same	% Reporting Lower
Expected Oil Price a Year from Now	70.0	58.5	71.4	23.8	1.4
Expected Natural Gas Price a Year from Now	42.5	45.0	50.0	38.4	7.5

Price Expectations: E&P Firms
Indicator	Current Index	Previous Index	% Reporting Higher	% Reporting Same	% Reporting Lower
Expected Oil Price a Year from Now	68.6	62.8	71.6	23.9	3.0
Expected Natural Gas Price a Year from Now	32.9	36.7	44.8	37.3	11.9

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	71.3	54.7	71.3	23.8	0.0
Expected Natural Gas Price a Year from Now	50.6	51.8	54.4	39.2	3.8

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	19.7	–8.7	47.0	25.8	27.3
Capital Expenditures	13.8	–12.7	42.0	29.8	28.2
Supplier Delivery Time	–1.6	–6.1	9.6	79.2	11.2
Employment	–6.0	–29.4	22.6	48.9	28.6
Employee Hours	4.6	–23.1	27.5	49.6	22.9
Wages and Benefits	10.9	–25.6	31.8	47.3	20.9

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	47.1	0.8	64.2	18.7	17.1

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	20.7	–4.8	41.4	37.9	20.7
Oil Production	–1.7	–22.9	32.8	32.8	34.5
Natural Gas Wellhead Production	–16.1	–18.0	25.0	33.9	41.1
Capital Expenditures	15.8	–6.7	42.1	31.6	26.3
Expected Level of Capital Expenditures in 2017	44.0	3.3	57.6	28.8	13.6
Supplier Delivery Time	3.6	–6.7	10.9	81.8	7.3
Employment	–11.9	–30.6	16.9	54.2	28.8
Employee Hours	–12.3	–19.3	14.0	59.6	26.3
Wages and Benefits	7.0	–12.7	28.1	50.9	21.1
Finding and Development Costs	–27.6	–45.0	10.3	51.7	37.9
Lease Operating Expenses	–3.6	–39.4	27.3	41.8	30.9

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	57.4	17.0	66.7	24.1	9.3

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	19.0	–12.0	51.4	16.2	32.4
Utilization of Equipment	24.3	–17.8	47.3	29.7	23.0
Capital Expenditures	12.2	–17.6	41.9	28.4	29.7
Supplier Delivery Time	–5.7	–5.6	8.6	77.1	14.3
Lag Time in Delivery of Firm's Services	–4.4	–7.0	10.1	75.4	14.5
Employment	–1.4	–28.3	27.0	44.6	28.4
Employment Hours	17.5	–26.4	37.8	41.9	20.3
Wages and Benefits	13.9	–36.4	34.7	44.4	20.8
Input Costs	–1.4	–20.5	23.6	51.4	25.0
Prices Received for Services	–19.1	–43.6	19.1	42.6	38.2

Indicator	Current Index	Previous Index	% Reporting Improved	% Reporting No Change	% Reporting Worsened
Company Outlook	39.1	–13.0	62.3	14.5	23.2

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.