Energy operators working across the Midcontinent and in the Rockies are steadily picking up activity, but they need average natural gas prices of $3.82/MMBtu, with oil averaging $72/bbl before there’s a “substantial” boost in drilling, according to the Federal Reserve Bank of Kansas City.
The Kansas City Fed, as it is better known, every quarter surveys executives of oilfield services (OFS) and exploration and production (E&P) companies. The energy survey provides current and expected drilling, capital spending and employment activity in Colorado, Kansas, Missouri, Nebraska, northern New Mexico and Wyoming.
“Growth in District drilling and business activity remained solid in the second quarter, and expectations indicated further expansion in the next six months,” said...
