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Oil and Gas Activity Rebounds: Dallas Fed

Activity in the oil and gas sector jumped in fourth-quarter 2020, according to oil and gas executives responding to the Dallas Fed Energy Survey. The business activity index—the survey’s broadest measure of conditions facing Eleventh District energy firms—moved into positive territory, rising from -6.6 in the third quarter to 18.5 in Q4.

This is the first positive reading for the business activity index since Q1 2019, according to the Dallas Fed.

According to E&P executives, oil production stabilized after three quarters of decline, with the index rising from -15.4 to 1.0 in Q4. The natural gas production index increased eight points to -2.1.

On average, respondents expect a West Texas Intermediate (WTI) oil price of $50 per barrel by year-end 2021l. Survey participants expect Henry Hub natural gas prices of $2.76 per million British thermal units (MMBtu) at year-end.


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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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