Most U.S. energy executives expect Henry Hub natural gas prices to average $2.40-2.79/Mcf by the end of 2021, but a solid number foresee prices of as much as $3.19, according to a survey by the Federal Reserve Bank of Dallas.

Dallas Fed

The Dallas Fed, as it is better known, every quarter surveys executives of exploration and production (E&P) firms and oilfield services (OFS) companies headquartered in the Eleventh District. The district encompasses northern Louisiana, most of New Mexico and Texas, home to the Permian Basin, Eagle Ford and Haynesville shales. 

Data were collected Dec. 9–17, and 146 firms responded, including 97 E&Ps and 49 OFS operators.

“The latest survey results show some signs of improvement in the oil and gas sector,” said Dallas Fed’s Michael Plante, senior...