Dallas Fed Survey: O&G Execs See $3.29 Henry Hub Gas by Year-End

Where do the people who actually drill for, and service, oil and gas wells think the price of natural gas is going? Every three months the Federal Reserve Bank of Dallas asks them, and the answer from the latest survey is: not much higher in the short run, but steadily higher over the next five years. The third-quarter 2026 Dallas Fed Energy Survey, released September 30, found executives expect the Henry Hub price to finish 2026 at $3.29 per MMBtu, rise to $3.82 in two years, and reach $4.28 in five years. Meanwhile, the price in the real world right now is hovering around $3.00. Here's what the crystal ball says, and what it means for the Marcellus/Utica.

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