2016 Energy Survey indicates acceleration in oil and gas activity
‘Regional oil and gas firms said they returned to profitability’
by Federal Reserve Bank of Kansas City
January 13, 2017
FOR IMMEDIATE RELEASE Friday, January 13, 2017
TENTH DISTRICT ENERGY ACTIVITY ACCELERATES
Federal Reserve Bank of Kansas City Releases 4th Quarter Energy Survey
KANSAS CITY, Mo. – The Federal Reserve Bank of Kansas City released the 4th quarter Energy Survey today. According to Chad Wilkerson, Oklahoma City Branch executive and economist at the Federal Reserve Bank of Kansas City, the survey revealed an acceleration in Tenth District energy activity.
"Regional oil and gas firms said they returned to profitability in the fourth quarter for the first time in over two years," said Wilkerson. "Companies began hiring again and increased their drilling programs further."
The Kansas City Fed's quarterly Tenth District Energy Survey provides information on current and expected activity among energy firms in the Tenth District. The survey monitors oil and gas-related firms located and/or headquartered in the Tenth District, with results based on total firm activity. Survey results reveal changes in several indicators of energy activity, including drilling, capital spending, and employment. Firms also indicate projections for oil and gas prices. All results are diffusion indexes – the percentage of firms indicating increases minus the percentage of firms indicating decreases.
A summary of the 4th quarter survey can be found at this link.
Results from past surveys and release dates for future surveys can be found at https://www.kansascityfed.org/research/indicatorsdata/energy.
The Federal Reserve Bank of Kansas City serves the Tenth Federal Reserve District, encompassing the western third of Missouri; all of Kansas, Colorado, Nebraska, Oklahoma and Wyoming; and the northern half of New Mexico. As part of the nation’s central bank, the Bank participates in setting national monetary policy, supervising and regulating numerous commercial banks and bank holding companies, and providing financial services to depository institutions. More information is available online at www.kansascityfed.org.