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Brett Clanton

Former Anadarko chairman James Hackett. (Gary Fountain/For the Houston Chronicle)

Anadarko to pay BP $4 billion to settle spill claims

Anadarko CEO calls the deal the “right action for our stakeholders” that avoids the risk of larger costs later.
Bill Soplu, of Kaktovik, Alaska, demonstrates the use of one of several simulators used to help train employees for work on large vessels at the Edison Chouest Offshore shipbuilding facility in Larose, La. Photo: Misty Leigh McElroy / © 2011 Houston Chronicle

Technology, high prices fuel oil rush in Arctic

As the global hunt for oil gets tougher, the icy expanse of the Arctic – one of the last frontiers left for exploration – is looking more attractive to some producers.
(File logos)

Oil majors expect higher Q3 earnings

For the third quarter, a group of 19 major integrated oil and refining companies based in the Americas should earn a total of $41.1 billion, down from last quarter but up 32 percent from the July-to-September period in 2010, analysts with Barclays Capital predict.
Categories: General
A drilling rig aims for oil in the Bakken Shale near Watford City, N.D. (AP Photo/James MacPherson)

Ursa Resources Group II to buy oil and gas properties with $200M in equity

The newly formed Ursa Resources Group II launches after its predecessor, Ursa Resources Group, also backed by Denham Capital, sold assets in the Williston Basin.
Categories: General

ConocoPhillips names CEOs for spinoff companies *updated*

ConocoPhillips named two chief executives officers for its newly formed companies, officials said this morning.
A Chevron drill site manager on the Discoverer Deep Seas as it drills a prospect about 100 miles off the coast of New Orleans in the Gulf of Mexico.  (Karen Warren/Houston Chronicle file photo)

Chevron exec sees ‘new normal’ in deepwater Gulf, analyst says

The prediction comes as tougher safety and environmental regulations enacted after the deadly Macondo well blowout in April 2010 continue to slow the pace of new drilling permits, forcing producers to scale back exploration programs.
(Photo: Anadarko)

Anadarko Petroleum scores again in Mozambique

Anadarko Petroleum Corp. said it has “substantially increased” its estimate for the amount of natural gas offshore fields in Mozambique may hold in the wake of additional exploration success there by a partnership it leads.

Marathon Oil's corporate headquarters in Houston.  (AP file photo/Pat Sullivan)

Marathon Oil may sell stake in deepwater Gulf assets

The Houston oil company, which recently spun off its refining arm, is evaluating the possible sale of a minority stake in its deepwater Gulf of Mexico assets as it focuses on increasing shareholder returns and strengthening its portfolio
Categories: Offshore
The Cushing, Okla., pipeline hub.

Goldman Sachs: U.S. crude prices at $109 in 2012

The prediction represents a drop from the investment bank’s previous prediction of $123.50 a barrel for West Texas Intermediate, and reflects the increasingly anxious outlook for the global economic recovery. The bank also trimmed its 2012 Brent price estimate to $120 a barrel from $130.
Of the six states where the mining sector – including businesses that extract oil and natural gas – comprised more than 10 percent of the state’s economy in 2013, five saw both better than average overall economic growth as well as growth within the mining sector, according to a report by the U.S. Energy Information Administration. (AP file photo/Reed Saxon)

Halliburton to recruit ex-NASA workers

The oil field services giant said it is searching for several types of engineers, software testing and developers, scientists, auditors and other functions, noting that many aerospace professionals share the same skills, training and safety knowledge as those in the oil field.