Collin Eaton joined the Houston Chronicle's team of energy reporters in 2013, after covering the financial industry for another publication. He writes mainly about U.S. oil companies and developments in international oil markets.

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Panel: OPEC cuts to come largely in line with promises

OPEC’s track record of cheating on promised oil production cuts since the 1980s has given crude markets pause in recent days. But the cartel will probably comply with at least 80 percent of the recently proposed 1.2 million barrels a day in output cuts set to begin this month. That’s because the car ...

OPEC slashes production but sees higher U.S. output ahead

OPEC cut oil production in December by the largest amount in more than two years, but the cartel believes U.S. output will rise faster than previously expected. Crude production in Saudi Arabia and other member nations of the Organization of Petroleum Exporting Countries dropped by 220,900 barrels a ...

Oil production accelerating in the Permian Basin, EIA says

Oil production in the Permian Basin could rise by 53,000 barrels a day by next month, the Energy Department said Tuesday, and analysts expect the flurry of West Texas land deals to keep drillers pumping oil. That’s the largest monthly increase in the region since January 2016, according to data comp ...

ExxonMobil doubles Permian holdings through acquisitions from Bass family

By Collin Eaton and Mike D. Smith Exxon Mobil Corp. will add billions of barrels of oil equivalent to its Permian Basin resource by acquiring a set of companies from a wealthy Bass family of Fort Worth. The acquisition would double Exxon Mobil’s resources in the Permian Basin to 6 billion barr ...

Noble Energy to buy Clayton Williams for $2.7 billion

Noble Energy has agreed to purchase West Texas oil producer Clayton Williams Energy for $2.7 billion in cash and stock, the company said Monday. It’s part of the Houston oil producer’s efforts to expand its operation in the Delaware Basin in West Texas. Noble expects to close the deal fo ...

ConocoPhillips found what could be 300 million barrels of oil in Alaska

ConocoPhillips has found a new Alaskan oil vein 90 miles west of the prolific Prudhoe Bay field, one that may hold 300 million barrels of oil. The discovery could become a multibillion-dollar project that takes more than half a decade to fully develop, the company said Friday. The Houston driller fo ...

Anadarko to sell Eagle Ford assets for $2.3 billion

Anadarko Petroleum Corp. will collect $2.3 billion selling properties in the Eagle Ford Shale in South Texas, as it reroutes cash to more profitable oil fields, the company said Thursday. The Woodlands-based oil explorer will sell 155,000 net acres in Dimmit and Webb Counties, regions where the comp ...

Exxon strikes oil off coast of Guyana, again

Exxon Mobil Corp. has made a second oil discovery off the coast of Guyana, in a another reservoir 10 miles northwest of the large Liza field it discovered in 2015. The Irving-based oil giant said Thursday its affiliate in the Latin American country had found 95 feet of oil-soaked sandstone, called t ...

Drillers could double project investment decisions in 2017, Wood Mac says

Major oil companies could venture back into the ocean depths this year. Energy research firm Wood Mackenzie believes drillers will double the number of final investment decisions this year compared to last year, meaning the industry may pull the trigger on 20 large multiyear projects in 2017. That’s ...

Shale field costs could rise by a fifth in 2017, analysts say

Rising oil prices have eased financial pressure for scores of U.S. drillers, but higher oil field service costs could kick in soon. As companies return to oil patches with new fleets of rigs, the costs of newly hired crews, frac sand, pressure pumps and other equipment used to blast open shale rocks ...

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