Fuel Fix

A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Cameron sells offshore jack-up rig business for $100 million

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Categories: Deals, featured, Offshore
Cameron International Corp. has agreed to sell off its offshore jackup rig business for $100 million to a Singapore rig contractor, the companies announced Monday.

Cameron sells offshore jack-up rig business for $100 million

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Categories: Deals, featured, Offshore
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)
Cameron International Corp. has agreed to sell off its offshore jackup rig business for $100 million to a Singapore rig contractor, the companies announced Monday.
(ALEXANDER KLEIN/AFP/Getty Images

Oil surges as OPEC signals it’s open to “fair and reasonable” prices

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U.S. crude prices shot up nearly $4 a barrel after OPEC said in a monthly publication it is ready to speak to other oil producers to achieve “fair and reasonable” prices.
Categories: Crude oil, featured, Markets

Original byline: Jim Blecha/

GE’s Lufkin Industries closing plant, making layoffs

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This is the third major job reduction by GE’s Lufkin Industries this year and the second and its Foundry plant, which is effectively being closed through this mass layoff, the company said in a letter to the Texas Workforce Commission.
iNOV Grant Prideco's Engineering Technology Center Sept 18, 2014. A worker at the combined load frame.  (Billy Smith II / Chronicle)
Publication History: 	Publication: The Houston Chronicle
PubDate: 9/21/2014 - PageNo: 1 - Section: D - Edition: H6 - CIMAGEID: 131712669
Caption: An employee checks machinery at NOV Grant Prideco's engineering technology center. It's part of National Oilwell Varco.


NOV taps new chief financial officer

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National Oilwell Varco has appointed a new chief financial officer with experience working in the industry as an executive at a major oil company as well as a background in investment banking.
Categories: Oil field services

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In Eagle Ford, local officials win rights on road control

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In a bitterly contested case of neighbor against neighbor over access to the spoils of the Eagle Ford Shale, a court ruling has strengthened the hand of county officials seeking to maintain control of local roads.
President Barack Obama waves from the top of the steps of Air Force One at Andrews Air Force Base in Maryland on Monday, Aug. 31, 2015, before departing to Alaska. Obama is traveling on a three-day trip to Alaska aimed at showing solidarity with a state often overlooked by Washington, while using its glorious but changing landscape as an urgent call to action on climate change. (AP Photo/Susan Walsh)

Obama on defense as he heads to Alaska

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Environmentalists say there is a clash between Shell’s exploratory oil drilling in the Chukchi Sea and Obama’s visit to survey shrinking glaciers and speak with coastal residents worried about rising seas.
(Lucas Schifres/Bloomberg)

Raymond James cuts natural gas price forecast

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Raymond James lowered its long-term natural gas price estimates Monday, putting the investment banking firm in a growing group of analysts seeing a bleaker future for the fuel.
Categories: Natural gas
(Jeff Pachoud/AFP/Getty Images)

Gasoline prices dip sharply with end of summer driving season

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Average retail gas prices in Houston came in at $2.25 a gallon Sunday, down 7.1 cents per gallon in the past week.
Categories: Crude oil, Gasoline, Refining
(AP Photo/Charles Rex Arbogast, File)

EIA revises US oil production estimates lower; June output sank

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The federal government believes daily U.S. crude production fell to 9.3 million barrels in June, down by 100,000 barrels in the prior month, as low oil prices continue to discourage drilling.
Categories: Crude oil, Production