Activity in the oil and gas sector expanded at a strong pace in the third quarter, 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—remained elevated at 46.0 but below the 57.7 record-breaking reading last quarter. This suggests the pace of the expansion decelerated slightly but remains solid. Oil and natural gas production increased at a similar pace compared with the prior quarter, according to executives at exploration and production (E&P) firms. The oil production index held ... (full story)