The Federal Reserve Bank of Kansas City published its first-quarter Tenth District Energy Survey, reporting that energy activity fell sharply and that firms expect further contraction over the next six months. Drilling and overall business activity were broadly steady in the quarter, while capital expenditures continued to decline. Revenues and profits indexes rose to their highest levels since the second quarter of 2022 amid substantially higher oil prices in recent weeks, but most firms do not expect prices to support a substantial increase in drilling in the next six months. The quarterly survey covers oil- and gas-related firms located and/or headquartered in the Tenth District and reports diffusion indexes across indicators such as drilling, capital spending, employment, and oil and gas price expectations.
Federal Reserve Bank of Kansas City 2026-04-10
Federal Reserve Bank of Kansas City releases first-quarter Energy Survey showing sharp fall in Tenth District energy activity
The Federal Reserve Bank of Kansas City’s first-quarter Tenth District Energy Survey reports a sharp fall in energy activity and expectations of further contraction over the next six months. Drilling and overall business activity were broadly steady while capital expenditures declined, and revenues and profits indexes rose to their highest levels since the second quarter of 2022 on higher oil prices, though most firms do not expect prices to support a substantial increase in drilling.