Plummeting natural gas prices, workforce shortages, cost inflation and frustration with federal policies are a few of the challenges giving U.S. oil and gas executives headaches, according to a new survey conducted by the Federal Reserve Bank of Dallas.

The Dallas Fed, as it is better known, collected responses from 147 firms from March 15-23 for its first quarter energy survey. The quarterly survey gauges activity levels and overall sentiment in the industry.

Respondents represented 95 exploration and production (E&P) companies and 52 oilfield services (OFS) firms in the Eleventh Federal Reserve District. The District includes Texas, northern Louisiana and southern New Mexico.

[Market Moves: What is affecting the natural gas market today? From the LNG pause to climate goals,...