A Quick Trip to the Oil Patch Shows Energy-Related Losses Rising
The Dallas Fed's southwest economy report sees noncurrent loans picking up at the region's banks.
Ryan Craghead, floor man on Big Dog Drilling Rid 22 on the outskirts of Midland, Texas.
Photographer: Brittany Sowacke/BloombergThis article is for subscribers only.
"Like an oil lease, you’re easily disposable," the villainous J.R. Ewing quipped to his beauty queen wife in the 1970s television series Dallas.
Readers of the latest edition of the Federal Reserve Bank of Dallas's quarterly southwest economy publication might want to keep that quote in mind. News from the oil patch — the 11th Fed district that encompasses the shale heartland — is not encouraging, as it reveals a sharper rise in souring energy-related loans.