Article 744
Eagle Ford takes the lead in rig count spike

As West Texas’ Permian Basin becomes more saturated with drilling activity, more rigs are returning to the Eagle Ford shale in southern Texas. The U.S. added 13 rigs actively drilling for oil and gas this week and almost all of them came in Texas. The Lone Star state added 11 rigs, including f ...

LyondellBasell reports profit despite maintenance issues

Petrochemical giant LyondellBasell Industries posted a $797 million quarterly profit despite extra maintenance downtime, including a March fire at its Houston Refinery. The Houston chemical company saw its profits fall 23 percent from the same quarter last year, but they grew 4 percent from the fina ...

Houston CEO to lead global integration of Wood Group and Amec Foster Wheeler

Houston executive Michele McNichol is taking over the global integration for the merger of two United Kingdom-based energy engineering giants. The Wood Group is planning to buy financially struggling Amec Foster Wheeler, both of which have sizable Houston presences in the Energy Corridor, for $2.7 b ...

NOV posts $122 million loss with focus shifted onshore

Houston’s National Oilwell Varco saw its quarterly revenues grow from the end of 2016, but the rig and equipment manufacturer still reported a $122 million loss for the first three months of the year. Once focused more on offshore markets, NOV is increasingly following the U.S. shale growth in ...

Growing fuel inventories offset dip in crude stockpiles

Growing inventories of refined fuel offset a big dip in crude oil stockpiles last week. The nation’s supply of commercial crude oil sitting in storage fell by 3.6 million barrels. However, gasoline inventories grew by 3.4 million barrels. On top of that, stocks of distillate fuel oil — used to ...

Fuel prices stop rising for now

After surging in recent weeks, gasoline prices are beginning to hold steady as we approach the busy summer driving season. The average cost of a gallon of regular unleaded gasoline actually fell by nearly 1 cent to $2.27 in the Houston area, while rising 1 cent nationwide to $2.42, according to week ...

Adams Resources business filing for bankruptcy

The oil and gas exploration business of Houston’s Adams Resources & Energy will file for bankruptcy. The 70-year-old energy company said its Adams Resources Exploration Corp. subsidiary will file for Chapter 11 bankruptcy protection and prepare to sell its ownership stake in about 470 well ...

Olin opens bleach plant in Freeport

Olin Corp. said Thursday it has opened its new industrial bleach production plant south of Houston in Freeport. The project is Missouri-based Olin’s first Texas expansion since merging two years ago with Dow Chemical’s chlorine business in a deal worth more than $5 billion. Bleach is mad ...

Texas refineries need new Canadian oil pipelines, report says

Gulf Coast refineries in Texas and beyond need new oil pipelines from Canada to cut down on their supply costs, a new report Tuesday from the IHS Markit research firm concludes. Western Canada is projected to increase its crude oil sands production by nearly 1 million barrels a day by 2020, putting ...

Out of the sand trap: Golf facility transforming into large frac sand mine

Fort Worth’s Emerge Energy Services said it is buying a small sand facility south of San Antonio to transform it into a much larger mine to serve the hydraulic fracturing needs of the oil sector. The San Antonio-based Osburn Materials facility currently produces sand to for building materials, ...

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