Tenth District Energy Activity Declined Sharply Again in Q2

By Chad Wilkerson Second quarter energy survey results revealed Tenth District energy activity declined sharply again in Q2 and was expected to remain largely unchanged moving forward. Firms reported that oil prices needed to be on average $51 per barrel to substantially increase drilling.

Tenth District Energy Activity Decreased at a Steep Pace

By Chad Wilkerson Tenth District energy activity decreased at a steep pace and expectations for future activity dropped further. Firms reported that oil prices needed to be on average $47 per barrel for drilling to be profitable, lower than any profitable price in survey history (since early 2014).

Tenth District Energy Activity Dropped Further

By Chad Wilkerson Fourth quarter energy survey results revealed Tenth District energy activity dropped further and expectations for future activity continued to decline. Firms reported that oil prices needed to be on average $65 per barrel for substantial increases in drilling to occur, down slightly from six months ago but higher than both current prices and prices expected over the next year.

Tenth District Energy Activity Decreased Moderately

By Chad Wilkerson Third quarter energy survey results revealed Tenth District energy activity decreased moderately and expectations for future activity continued to decline. Firms reported that oil prices needed to be on average $55 per barrel for drilling to be profitable, up slightly from six months ago.

Tenth District Energy Activity Expands Slightly

By Chad Wilkerson Second quarter energy survey results revealed Tenth District energy activity expanded slightly, while expectations for future activity declined. Firms reported that oil prices needed to be on average $66 per barrel for substantial increases in drilling to occur, up slightly from six months ago and higher than both current prices and prices expected over the next two years.

Tenth District Energy Activity Flat, Outlook Higher

By Chad Wilkerson

First quarter energy survey results revealed Tenth District energy activity was flat, but the outlook for future activity rose moderately. Firms reported that oil prices needed to be on average $52 per barrel for drilling to be profitable, down slightly from six months ago and below both current and expected prices.

Tenth District Energy Activity Declines Moderately

By Chad Wilkerson

Fourth quarter energy survey results revealed Tenth District energy activity declined moderately. The future activity outlook also turned negative. Firms reported that oil prices needed to be on average $63 per barrel for a substantial increase in drilling to occur, while they anticipate oil will rise to only the mid-to high-$50s this year.

Tenth District Energy Activity Accelerates

By Chad Wilkerson Third quarter energy survey results revealed Tenth District energy activity accelerated. The future activity outlook remained strong. Firms reported that oil prices needed to be on average $55 per barrel for drilling to be profitable, up slightly from the past few years but well below current and expected prices.

Tenth District Energy Activity Expanded Solidly

By Chad Wilkerson

Second quarter energy survey results revealed Tenth District energy activity expanded solidly. The future activity outlook remained strong. Firms reported that the oil price needed to be an average of $69 per barrel for a substantial increase in drilling to occur. This was up sizably from a year ago.

Tenth District Energy Activity Accelerated Moderately

By Chad Wilkerson

First quarter energy survey results revealed Tenth District energy activity accelerated moderately.  The future activity outlook remained positive but somewhat cautious.  Firms said that oil and natural gas prices needed to be on average $52 per barrel and $2.92 per million Btu, respectively to be profitable in the areas where they are active.  At the time of the survey, anticipated steel and aluminum tariffs were expected to have low to medium impacts on drilling costs.