Texas energy sector ends the year with optimism

30 Dec 2017   Shale Oil, USA

The energy sector in Texas is leaving 2017 on a high note, though oil prices will need to be higher than expected for strong rig counts, a bank survey found. A survey of 134 energy firms from Dec. 13-21 by the Federal Reserve Bank of Dallas showed an index measuring confidence had its first sign of reduced uncertainty since the first quarter of 2017. Most of that optimism came from drilling services companies, those that were hit hard by the market downturn in early 2016. Michael D. Plante, a senior economist at the Dallas Fed, said the exploration and production side of the industry had a notable change in sentiment in the December survey. “The energy […]

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