Fuel Fix

An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)
The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.
(Daniel Acker/Bloomberg)

Wyoming oilmen diversify to survive the bust

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Casper businesses were the hub for Wyoming’s oilfields during the boom years. Today, they are rewriting business plans, reassigning machines for jobs outside the oil patch and experimenting with new product lines.

3 reasons why an OPEC production cut is unlikely

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Two hundred and seven years after the birth of Charles Darwin, and the final trading day of the week is evolving into a rambunctious rally for the crude complex. Once again the market is at the mercy of OPEC rhetoric, as comments from the UAE’s energy minister have been interpreted as a sign of collusion […]
Categories: Crude oil
(Spencer Platt/Getty Images)

U.S. stocks rally to halt five-day loss as oil rebounds

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Concerns over everything from slowing growth in China, plunging crude prices to the pace of the Federal Reserve’s interest-rate hikes have sparked a flight out of risky assets.
Categories: Crude oil, Markets

This Nov. 3 file photo provided by Southern California Gas Co., shows equipment being used as SoCalGas crews and technical experts attempt to stop the flow of natural gas leaking from a storage well at the utility’s Aliso Canyon facility. (Javier Mendoza/SoCalGas via AP)

Massive gas leak plugged; residents seek return to normal

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The massive gas leak that spewed uncontrollably for nearly four months drove thousands of Los Angeles residents to pack up and leave their homes, while others rode it out.
Categories: Accidents, Natural gas
(AP Photo/Paul Sakuma)

Calpine counts net loss after mild weather and weak power prices

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The company took a $36 million hit from having part of its geothermal power complex, The Geysers, offline during the California Valley fire.
Porter Ranch Estates sit at the foothills near a Southern California Gas Co. gas well that had been leaking methane daily since October.
(AP Photo/Michael Owen Baker)

Massive gas leak near Los Angeles plugged after 16 weeks

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At its peak, the leak was estimated to contribute about a quarter of California’s climate-altering methane emissions, leading some to call it the worst environmental disaster since the 2010 BP oil spill in the Gulf of Mexico.
Categories: Accidents, Natural gas
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TCAP Commentary: PUC Puts Electric Providers on Notice

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Are electric companies posting misleading rates on the state’s electricity buying website?
In this March 25, 2014 photo, a worker oils a pump during a hydraulic fracturing operation at an Encana Corp. well pad near Mead, Colo. The first experimental use of hydraulic fracturing was in 1947, and more than 1 million U.S. oil and oil wells have been fracked since, according to the American Petroleum Institute. The National Petroleum Council estimates that up to 80 percent of natural oil wells drilled in the next decade will require hydraulic fracturing. (AP Photo/Brennan Linsley)

Democrats introduce anti-drilling bill in House

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Called the “keep it in the ground act” act, the bill led by Rep. Jared Huffman, D-California, would apply to all federal lands and waters, including the Gulf of Mexico.
(Brett Coomer/Houston Chronicle)

At NAPE, industry still waiting for oil’s rock bottom

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Once oil companies are confident prices will improve, analysts expect a wave of deals.
Categories: Crude oil
Traders work on the floor of the New York Stock Exchange (NYSE) in New York, U.S., on Wednesday, Jan. 20, 2016. U.S. stocks surged back to pare the biggest one-day selloff in five months, with the Dow Jones Industrial Average cutting a loss of 550 points by two-thirds as investors speculated the rout that's wiped more than $15 trillion from global equities has gone too far too fast. Photographer: Michael Nagle/Bloomberg

U.S. crude falls to 12-year low

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West Texas Intermediate futures dropped to $26.13 a barrel, breaking below the $26.19 low from January to reach the lowest since May 2003.
Categories: Crude oil, Markets
(Paul White/(AP photo)

Repsol to shut unprofitable Norwegian oil field

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The field produced about 4,800 barrels of oil a day in November
Categories: Crude oil, Europe, Production
Total headquarters outside Paris. (AP file photo/Jacques Brinon)

Total’s quarterly profit beats estimates on oil output, refining

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The energy producer, based outside Paris, joins BP Plc and Royal Dutch Shell Plc in cutting operating costs and investments to protect its dividend as a plunge in crude prices dents earnings.
A worker uses heavy equipment to attach drilling pipe sections on an oil drilling platform operated by Tatneft OAO near Almetyevsk, Russia, on Friday, July 31, 2015. Eleven months of surviving with oil below $100 have left Russia hardened enough to endure a monthlong drop to $40 a barrel, a survey of economists showed. Photographer: Andrey Rudakov/Bloomberg

Oil under pressure from rising oil and product inventories, credit crunch

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One hundred and thirty-eight years after the first US bicycle club was formed (the Boston Bicycle Club), and crude prices are freewheeling lower once more. We have equity markets spiraling lower, as fears of global economic weakness combine with deteriorating credit conditions for energy companies. As the chart below illustrates, borrowing costs for US junk-rated […]
Categories: Crude oil