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Stronger Midcontinent Natural Gas Activity? Energy Execs Pegging $3.79 as Profitable

Natural Gas Intelligence · last updated

Midcontinent natural gas and oil activity fell modestly during the second quarter, few changes are expected to the end of the year, but a jump in commodity prices could help, according to a survey by the Federal Reserve Board of Kansas City.

chart showing KC Fed survey results on natural gas prices needed for E&Ps to be profitable

The KC Fed, as it is known, each quarter gauges the conditions of energy companies headquartered or with offices in Colorado, Kansas, western Missouri, Nebraska, northern New Mexico, Oklahoma and Wyoming. The latest survey, conducted June 6-30, drew responses from 30 natural gas and oil executives.

Natural gas prices need to average $3.79/MMBtu for drilling to be “profitable on average,” the executives noted. For a “substantial” increase in activity, prices would need to average $5.01.

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