The oil and natural gas economy in the 10th Federal Reserve District expanded in the first quarter even though a gauge of drilling and business activity declined to 34 from 40 in the fourth quarter, according to the Federal Reserve Bank of Kansas City's latest quarterly energy survey. Energy executives who participated in the survey said they need oil prices at $53 per barrel and natural gas prices at $2.94 per million cubic feet to be profitable, and indicated increased optimism about future activity and commodity prices.
10th Fed District oil, gas activity gained momentum in Q1
Sign up for API SmartBrief
Oil and natural gas industry news
Get the intelligence you need: news and information that is changing your industry today, hand-curated by our professional editors from thousands of sources and delivered straight to your inbox.