Beaumont – Fuelfix

Court OKs $2.86 billion merger between C&J, Nabors unit

C&J Energy’s shareholders shouldn’t have been barred by a judge from voting on whether to approve the deal with Houston- based Nabors, the Delaware Supreme Court ruled today.  More »

Texas banks already seeing some problem borrowers as oil slides, regulator says

One of the top federal regulators for Texas community banks says examiners are already catching some problems with less financially stable bank borrowers, and if oil remains cheap for long, it could get a lot worse.  More »

Shale debt crunch could intensify in April

U.S. oil companies could see the amount of money they can borrow shrink significantly next April when banks reassess credit conditions amid falling oil prices.  More »
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Transocean to scrap seven more rigs, take $140M charge

Transocean is planning to scrap seven of its older, lower-quality deep-water and mid-water vessels, putting them up for sale at a time when oil prices and demand for offshore rigs have sunken lower.  More »

Halliburton CEO: Weak market will spur more job cuts

Dave Lesar’s statement comes a week after Halliburton said it would immediately laying off 1,000 employees across multiple regions in the Eastern Hemisphere.  More »

Ocean energy bureau gets new director

Abigail Hopper, a Maryland energy regulator and veteran of fights over offshore wind farms, will be the top federal official in charge of oil and gas drilling along the nation’s coastlines.  More »

Oil crunch could cost Texas 128,000 jobs, Fed model shows

But falling oil wouldn’t be enough to slow the state’s job growth to zero.  More »

Crude resumes slide on concern supply outpacing demand

Trading volatility for both Brent and West Texas Intermediate increased to a four-year high.  More »

Marathon Oil will cut more than $1B from 2015 budget

Marathon Oil Corp. will spend about 20 percent less looking for and producing oil next year, the company said on Thursday.  More »

Crude oil futures rebound with stocks as selloff pauses

Brent, the benchmark for half the world’s oil, advanced from a five-year low. West Texas Intermediate shrugged off an increase in supplies at Cushing, the delivery point for Nymex futures.  More »

Obama shift on Cuba won’t mean big oil boom in Gulf of Mexico

President Barack Obama’s decision to normalize relations between the United States and Cuba may lead to more commercial opportunities for Americans within the island nation. But don’t expect U.S. oil producers to move swiftly to take advantage of them.  More »

Oil climbs from 5-year low; oil drop seen as excessive

Brent, the benchmark for half the world’s oil, gained as much as 1.2 percent after closing at the lowest level since May 2009 yesterday.  More »

More than 500 rigs may shut down as oil slides, analysts say

Rigs could begin to see less work starting early next year, following a 40 percent drop in the number of new U.S. drilling permits issued from October to November.  More »

Oil trades near 5-year low as Russia echoes OPEC output policy

Oil has slumped about 45 percent this year as a surge in shale drilling lifted U.S. output to the fastest pace in three decades amid slower growth in world demand.  More »

Obama withdraws Alaska’s Bristol Bay from drilling

Obama says in a video announcement that the natural resource is too precious to be put out to the highest bidder.  More »
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