Fuel Fix

A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)

Paragon Offshore reaches creditor deal for bankruptcy filing

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Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.

Paragon Offshore reaches creditor deal for bankruptcy filing

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A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)
Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.
( Johnny Hanson / Chronicle )

Rig count tumbles again

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The total rig count, which when including natural gas rig fell by 30, now stands at 541.
Categories: Crude oil, featured

Anatomy of a Scam

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The Obama Administration, helped by generous subsidy programs provided by both democrat and republican Congresses, has been promoting alternative energy since day one. A number of commentators have criticized the government’s alternative energy policy but now a major investor in solar energy has provided a tool that makes it easier to demonstrate clearly solar power […]
Categories: General
(Scott Olson/Getty Images)

Valero sues EPA over ethanol standard

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Valero Energy, the San Antonio-based refining giant, sued the U.S. Environmental Protection Agency on Friday in the latest legal challenge to efforts to expand the use of ethanol and other biofuels to power the nation’s transportation system. Following litigation filed by the trade group American Fuel & Petrochemical Manufacturers Wednesday, Valero claims the government’s renewable fuel […]

A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

EIA revises Oklahoma oil production up 100,000 barrels a day

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The EIA said Friday it has revised its estimate of Oklahoma oil production up by 100,000 barrels a day.
Categories: Crude oil
The sun sets beyond an oil pumping unit, also known as a "nodding donkey" or pumping jack, at a drilling site 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

Moody’s downgrades eight oil cos. in round of ratings adjustments

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The debt-rating agency is currently reassessing its energy company ratings after continued low oil and gas prices led it to worsen its outlook for the sector.

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