The quarterly survey of executives from E&P and oilfield services firms in the 11th District reveals a quarter-over-quarter increase in the business activity index. Activity in the energy sector increased modestly in first quarter 2019, according to energy executives surveyed in the Dallas Fed’s quarterly energy survey released Wednesday. The business activity index, which measures conditions among 11th District energy firms (headquartered in Texas, northern Louisiana and southern New Mexico), was 10.8 in 1Q. It increased from 2.3 in 4Q 2018 – driven mostly by oilfield services firms – but still sits well below the average seen over the past few years. The business activity index for oilfield services firms jumped from 0.0 to 16.1. “Activity modestly increased in the first quarter as higher oil prices provided support for the oil and gas sector’s outlook,” Michael D. Plante, Dallas Fed senior economist, stated in a release. “Notably, though, the […]