Beaumont – Fuelfix

House votes to limit EPA to science based on “public data”

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Legislation putting stricter limits on what scientific findings the U.S. Environmental Protection Agency can and can not use to justify its regulations passed the Republican-controlled House Wednesday. The bill, called the HONEST Act, would require the agency to use only scientific findings for which the underlying data is publicly available, potentially leaving out medical studies that do …

ConocoPhillips to sell Canadian assets for $13.3 billion

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ConocoPhillips plans to sell its stake in a Canadian oil sands project and separate natural gas assets for $13.3 billion to Canadian producer Cenovus Energy, the company said Wednesday. The Houston driller is selling its 50-percent share in the Forest Creek Christina Lake oil sands partnership, a 21-year-old project that pumps steam underground to extract …

Rockwater Energy buys Crescent Companies from White Deer Energy

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Houston’s Rockwater Energy Solutions is buying Crescent Companies in a $207 million deal to create a larger water management company serving the oil and gas sector. Rockwater is acquiring Oklahoma City-based Crescent from Houston-based private equity firm, White Deer Energy. Another Houston private equity firm, SCF Partners, owns a majority of Rockwater. The companies are oilfield services …

Fed survey: Texas oil producers whittle down costs, boost output

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In Texas and Oklahoma, oil companies can wring money out of newly drilled wells in major basins for less than $50 a barrel, a new Dallas Fed survey says. As producers cut down on drilling time and pump greater quantities of crude, break-even costs in active U.S. oil fields have dropped 6 percent over the …

Fuel withdrawals offset small crude oil inventories build

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The nation’s record-high stockpile of crude oil rose by another 900,000 barrels last week, but that was more than offset by large draw downs in fuel inventories. Gasoline stockpiles fell by 3.7 million barrels, while inventories for distillate fuel oil, which is used to make diesel and heating oils, dipped by 2.5 million barrels, according …

World’s largest beer maker commits to renewables

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The world’s largest beer maker, Anheuser-Busch InBev, announced on Tuesday that 100 percent of its purchased electricity will come from renewable sources by 2025. Even as President Donald Trump begins rolling back climate regulations, AB InBev said it will shift 6 terawatt-hours of electricity a year to renewable sources — the equivalent of 400 soccer …

Sunset bill for Railroad Commission inches closer to governor’s desk

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The Texas House of Representatives on Tuesday passed a bill that reauthorizes the Railroad Commission of Texas, the state’s oil and gas regulator, to operate, according to a statement from the Sierra Club, a non-profit environmental advocacy group. The bill sounds deceptively boring, but it is a crucial step for Texas agencies, which are periodically reviewed …

Baker Hughes offering buyouts in Europe

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Houston oilfield services giant Baker Hughes is offering buyout packages to its Norway employees to help cut costs as the international energy sector continues to languish. The move comes while Baker Hughes prepares to combine with a unit of General Electric in a $32 billion merger that would create an expanded Baker Hughes. The deal …