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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U.S. rig count up in 19th straight weekly increase

Drillers dispatched another seven oil and gas rigs to U.S. fields over the past week, Baker Hughes said Friday, marking the rig count’s 19th consecutive weekly increase. That increase brought the nation’s active rig count up to 908, up from a record low of 404 this time last year. Five o ...

Fire at Anadarko oil tank site kills worker, injures 3

A fire at an oil tank battery owned by Anadarko Petroleum Corp. killed one worker and injured three others in Colorado on Thursday afternoon, authorities and the company confirmed. Contracted workers were doing maintenance work at an oil tank facility near Mead, Colo., when an oil tank battery ignit ...

Petrobras, Shell fire up pre-salt oil field off Brazil

A first-of-its-kind vessel owned by Petrobras and Shell has begun pumping oil off Brazil in one of the world’s most lucrative deep-water basins. Shell said Friday the companies fired up their first cloned offshore vessel assembled with standard parts and equipment in the pre-salt Santos Basin, a pro ...

Oil prices tank as OPEC deal on output cuts disappoints traders

Oil prices tanked early Thursday after OPEC reached an agreement to cap oil production for another nine months at the same level that couldn’t fix the oversupplied oil market this year. The U.S. oil benchmark fell as much as 5.1 percent from $51.36 to $48.75 on Thursday, underscoring how much specul ...

Permian drilling productivity will see first-ever decline in June, EIA says

Oil fields in West Texas are teeming with drilling rigs after crude prices shot up to $50 a barrel this year. But the Energy Department believes a key metric of drilling productivity is about to turn south in the Permian Basin for the first time since its analysts began tracking it in late 2013. Nex ...

Are OPEC production cuts a done deal?

A powerful consortium of oil producers that includes Saudi Arabia and Russia will try to goose lackluster oil prices this week with promises to extend previous output cuts for several months and perhaps into next year. At a semiannual gathering in Vienna on Thursday, Saudi-led OPEC and other oil-pro ...

EOG Resources gets $400 million from private equity group

EOG Resources will get a $400 million cash infusion from private equity group Carlyle to develop oil and gas assets in Oklahoma over the next four years. The Houston oil producer’s joint venture with one of Carlyle’s energy investment arms comes as private equity firms pour billions into a resurgent ...

Rig contractor to pay up to $100M for big data tech firm

Helmerich & Payne, the largest U.S. rig contractor, is set to buy a small Dallas firm touting technology that can guide drill bits to oil-soaked rock with cognitive computing. The Oklahoma drilling contractor will pay $75 million to purchase Motive Drilling Technologies, but that price tag could ...

BP begins pumping oil from UK North Sea field

BP has begun pumping oil from a redeveloped field in the United Kingdom’s North Sea, firing up its third major project this year, the company said Monday. The British oil company’s North Sea project, dubbed Quad 204 west of the Scottish Shetland isles, will produce 130,000 barrels of oil a day at it ...

U.S. rig count surges to more than 900

Despite chaotic turns in the oil market in recent weeks, the U.S. oil industry comeback shows no sign yet of slowing down. The number of rigs drilling for oil and gas across the nation climbed by 16 in the past week, marking the 18th consecutive weekly increase, Baker Hughes said Friday. The oil fie ...

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