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permian basin

W&T Offshore to sell Permian assets for $376 million

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Categories: Crude oil, Deals, featured, Texas
W&T Offshore has agreed to sell its stake in a West Texas oil field to a private equity start-up company for $376 million, the latest oil deal geared toward supporting a seller’s financial books amid cheap oil prices.

W&T Offshore to sell Permian assets for $376 million

on
Categories: Crude oil, Deals, featured, Texas
permian basin
W&T Offshore has agreed to sell its stake in a West Texas oil field to a private equity start-up company for $376 million, the latest oil deal geared toward supporting a seller’s financial books amid cheap oil prices.
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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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.
Categories: Deals, featured, Offshore
Welders work on a stretch of the Texas Express Pipeline  during construction in the Texas Panhandle in April, 2013. The company's owners said Oct. 31, 2013, that the natural gas liquids pipeline had begun carrying products from Skellytown in Carson County to processing and storage facilities in Mont Belvieu, about 30 miles east of Houston. Houston-based Enterprise Products Partners operates the pipeline, and co-owns it with  Enbridge Energy Partners, Anadarko Petroleum, and  DCP Midstream Partners.

Navitas Midstream buys DCP pipes

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The deal will send about 1,000 miles of natural gas gathering pipelines and 60-million cubic foot processing plant from Denver-based DCP Midstream to The Woodlands-based Navitas.
(SAMAD/AFP/Getty Images)

Slowdown in Chinese manufacturing erases crude’s gains

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After a three-day rally, oil prices resumed their fall Tuesday, pulled down by fresh fresh news about economic weakness in China that also dragged down the overall stock market.
Categories: Crude oil

A very large smokestack flare burns off flammable product after an explosion in a processing facility at the ExxonMobil refinery in Torrance, Calif. on Wednesday, Feb. 18, 2015. A small ground fire was quickly extinguished and the facility's flare system was triggered for safety reasons. Two workers suffered minor injuries. (AP Photo/Daily Breeze, Chuck Bennett)

Ramp up delayed for Exxon Mobil’s Torrance refinery

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A hearing set for Wednesday morning was delayed.
conoco

ConocoPhillips starts up deep oil sands project in Canada

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ConocoPhillips says it’s bringing up its first barrels of oil in a large Canadian oil sands project that has been under construction for five years.
Categories: Canada, Crude oil

China woes hit pause for crude rally

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Suckerpinch, suckerpunch, for the first day of the month. We kick off September carrying the baggage that we picked up last month – that of economic fears ignited by China. Overnight PMI numbers from the world’s largest energy consumer (and second largest economy) has done little (well, nothing) to dissuade this notion. The official PMI […]
Categories: Crude oil
A boat of tourists moves on Dubai creek, with the city skyline in the background in Dubai, United Arab Emirates. (AP file photo/Kamran Jebreili)

Dubai property prices fall most in the world amid cheap oil

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The decline in Dubai was larger than real estate prices in Ukraine, which has been by a separatist insurgency.
Workers move a section of well casing into place at a Chesapeake Energy natural gas well site. (AP file photo/Ralph Wilson)

Canada’s Penn West to cut workforce 35 percent, slash spending

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The firm’s board of directors will also take a cut in compensation, as its board chair’s annual retainer will be cut in half and other directors will have retainers reduced by 40 percent.