Weak natural gas prices are weighing on the minds of oil and gas executives, but the outlook is not all bearish, according to a new survey by the Federal Reserve Bank of Dallas, aka the Dallas Fed.

“Natural gas is currently pricing at or below costs of production,” said one respondent from an exploration and production (E&P) firm in the Dallas Fed’s first quarter 2024 energy survey published Wednesday. 

The survey gauges current and expected activity levels among E&P and oilfield services (OFS) executives in the Eleventh Federal Reserve District, as well as their expectations for oil and natural gas prices. The district consists of Texas, northern Louisiana and southern New Mexico. 

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