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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OPEC meets 91 percent of promised output cuts in January

OPEC slashed oil production last month by nearly as much as it promised in November, when the cartel struck its first deal to curb global supply in eight years, an S&P Global Platts survey released on Monday shows. In January, Saudi Arabia, Iraq, Kuwait, the United Arab Emirates and six other OP ...

Anadarko CEO: Optimistic, but still cautious in first half of 2017

Anadarko Petroleum Corp. said it will invest within its means in the first half of the year, hopeful crude prices could keep climbing but wary of market volatility. The Woodlands-based oil explorer has begun laying the groundwork for expanded drilling operations in places like the Delaware Basin in ...

Anadarko Petroleum records loss on impairment charges

Anadarko Petroleum Corp. lost $515 million in the fourth quarter as it wrote down the value of oil-producing properties and exploration assets. The Woodlands-based oil explorer’s $515 million loss in the fourth quarter, or 94 cents a share, was smaller than the $1.3 billion loss, or $2.45 cents a sh ...

Exxon Mobil plans to hike spending, drilling in Delaware Basin

In coming years, Exxon Mobil Corp.’s newly purchased oil land in New Mexico and West Texas could raise its U.S. shale oil production to as much as a quarter of its output worldwide. It would take more than a decade to reach a production plateau of 350,000 barrels of oil equivalent a day from the ... ...

Houston’s Green Bank exits energy lending

At least one Houston bank has firmly put the energy business behind it. Green Bank, a $3.9 billion lender in Houston, said it has cut its exposure to energy loans from 9.4 percent of its loan portfolio at the end of 2015 to 3.8 percent at the end of last year, and it plans to ... ...

Drillers face $43 billion cash shortfall in 2017, study says

North American drillers could face a $43 billion cash shortfall this year even with oil prices on the rise, according to a new study. U.S. shale drillers and Canadian producers would need oil prices to skyrocket to $80 a barrel oil to finance operations without borrowing more money or cutting spendi ...

OPEC, IEA chiefs to speak at IHS CERAWeek in Houston

Key figureheads of the Organization of Petroleum Exporting Countries and the International Energy Agency will speak in Houston in March at IHS CERAWeek, one of the energy industry’s largest annual conferences. At the conference, OPEC Secretary General Mohammad Sanusi Barkindo, a Nigerian energy offi ...

BP begins pumping oil from Gulf expansion project

A new subsea production system at one of BP’s major oil fields in the Gulf of Mexico has begun collecting crude from a prolific new well, the company said Monday. BP’s effort to expand operations south in the deep-water Thunder Horse field, which it discovered in 1999, could eventually bring o ...

Schlumberger chief: drilling recovery “is on its way in all markets”

Drillers will have to begin pouring cash back into oil fields around the world by the end of the year to prevent a global oil-production shortage in coming years, the CEO of Schlumberger said Friday. That’s why the world’s top oil field services company is gearing up for a global recover ...

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 ...

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