OKLAHOMA CITY–(BUSINESS WIRE)–Chesapeake Energy Corporation (NYSE:CHK) today announced its 2011 first quarter financial and operational results. For the quarter, Chesapeake reported a net loss to common stockholders of $205 million ($0.32 per fully d…  More »

PROVIDENCE, R.I.–(BUSINESS WIRE)–Textron Inc. announced that Jack J. Pelton, chairman, president and CEO of Cessna Aircraft, has retired. Textron Chairman and CEO Scott C. Donnelly will run the business until a successor is named. …  More »

“It’s kind of a see-saw effect,” said Michael Lynch, president of Strategic Energy & Economic Research. “There will be a fear, I think, in the short-term in the markets that something might happen in the next week or two. I do think in the longer term, it suggests likely more stability in the Middle East.”  More »

The feds plan to make public a clear outline of the components operators must have in their drilling permit applications before permits can be approved — a move industry leaders have pushed for in the wake of the Deepwater Horizon disaster and deep-water drilling ban.  More »

The nation’s top offshore drilling regulator, Michael Bromwich, said the government’s offshore drilling agency has the power to oversee oilfield service firms, rig suppliers and other offshore contractors who traditionally have been outside the ocean energy bureau’s watch.  More »

A bit of late-night inspiration from a T-3 Energy engineer led to a new way for cutting drilling pipe during an oil well blowout.  More »

The Obama administration’s response to the Deepwater Horizon accident has set U.S. energy development back years and has needlessly cost jobs in the offshore industry, said Jack Gerard, president of the American Petroleum Institute. “We believe the moratorium was an overreaction,” he told the  Chronicle’s editorial board this morning. “You didn’t need to put everybody [...]  More »

At last year’s event BP’s Macondo well was still gushing thousands of barrels of oil into the Gulf of Mexico. Now, things are looking up as drilling activity resumes in the deep-water Gulf and high oil prices are providing a tailwind for new global exploration.  More »

Gulf Coast governors who know a little something about offshore drilling are forming a coalition with their East and West coast counterparts to lobby for expanded energy production on the Outer Continental Shelf.  More »

Day 1 of the annual technology event for the offshore drilling and production business begins at Houston’s Reliant Center. More than 72,000 attendees are expected this year, likely a record, as the offshore oil and gas drilling industry looks to rebound from the post-Macondo oil spill drilling moratorium.  More »

Thousands flocked to Reliant Park this morning as the 2011 Offshore Technology Conference got underway. Here’s the early buzz from the exhibit floor.  More »

May 1, 2011 marks the death of Osama Bin Laden and hopefully the continued demise of Al-Qaeda and its attacks on innocent Muslims and Americans alike. Since oil is one of the major resources of the Arab world, it is not surprising that oil did not escape the attention of Bin Laden, who was born [...]  More »