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Dallas Fed Energy Survey

Fourth 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

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

IndicatorCurrent IndexPrevious 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)
IndicatorCurrent IndexPrevious 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

IndicatorCurrent IndexPrevious 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)
IndicatorCurrent IndexPrevious 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

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

Company Outlook

49.4

11.2

59.5

30.4

10.1

Price Expectations

Price Expectations: Firms
IndicatorCurrent IndexPrevious 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
IndicatorCurrent IndexPrevious 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
IndicatorCurrent IndexPrevious 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: 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

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

IndicatorCurrent IndexPrevious 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)
IndicatorCurrent IndexPrevious 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

IndicatorCurrent IndexPrevious 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)
IndicatorCurrent IndexPrevious 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

IndicatorCurrent IndexPrevious 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.

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