-
Oil and gas activity sees modest growth; outlook improves, but cost increases continue
Activity in the oil and gas sector rose in third quarter 2023, according to oil and gas executives responding to the Dallas Fed Energy Survey. The business activity index, the survey’s broadest measure of conditions energy firms in the Eleventh District face, increased from 0 in the second quarter to 10.9 in the third quarter. The increase was driven by the exploration and production (E&P) side of the business. The business activity index for E&P firms jumped from 1.0 in the second quarter to 22.5 in the third quarter. However, the business activity index for oil and gas support services firms declined from -1.9 to ... (full story)