Oil and gas business activity continued to climb last quarter, driven by an improved oilfield services sector, but costs for goods and labor also rose, the Federal Reserve Bank of Dallas said on Wednesday in its quarterly energy survey. About 65 percent of the 140 energy firms surveyed in Texas, southern New Mexico and northern Louisiana reported increased activity from a year ago. During that time, U.S. oil prices have climbed more than 30 percent to near $65 a barrel CLc1. About 77 percent of the respondents reported an improved company outlook, with over 80 percent of oilfield services firms offering a better view for the future. The uptick in activity is driving up costs, companies said, with the Fed’s index for wages and benefits climbing to 46.5 from 40.6 […]