Checks from drilling may dry up as gas prices dip
Royalty checks that start to arrive when a gas company drills on your property can make for some very profitable envelopes in the mailbox. But the low natural gas prices that have disrupted industry balance sheets in recent months could start to cut into those checks. More »
French oil-services company Technip acquires Shaw Group assets for $300 million
Technip plans to buy Shaw Group’s energy and chemicals business for roughly $300 million, it announced today. More »
Environmentalists criticize Ohio drilling rules
Environmental advocates were among dozens of witnesses lining up to testify Monday on a bill laying out Ohio’s new regulations for horizontal shale drilling and the use of renewable energy. More »
Iran finds its first Caspian Sea oil for more than a century
Iran has discovered oil in its Caspian Sea waters for the first time in more than a century, the state-run Fars news agency reported. More »
Total to put staff back on North Sea platform
The French oil company Total says it is preparing to put staff back on a North Sea platform after confirming that a gas leak has been stopped. More »
Repsol: Exploratory oil well off Cuba comes up dry
Spanish oil company Repsol says an exploratory well it drilled off Cuba is unsuccessful and will be abandoned. More »
World’s first semisubmersible drill rig getting back to work
After being out of commission for 14 years, the world’s first self-propelled semisubmersible drilling rig is looking to get back into the offshore business. More »
Technology can unlock new fields, curb fears of peak oil
Technology advancements in oil and gas production will allow the industry to remain the world’s dominant energy supplier for decades and curb fears that fossil fuels are rapidly running out, a Chevron vice president said today. More »
Obama challenges oil companies to drill existing leases
The White House on Tuesday pushed back against the oil and gas industry’s claims that the Obama administration is blocking domestic energy development, releasing a new analysis showing that 46 million acres of federal lands and waters leased for drilling are sitting idle. More »
Fla. county to examine possible theft of BP funds
Investigators are scheduled to update Okaloosa County commissioners on their widening investigation into the possible theft of tourism funds provided by BP in the aftermath of the 2010 Gulf oil spill. More »
Analysts ask hard questions about Chesapeake liquidity
Analysts sounded skeptical at a Monday morning analyst call, weighing Chesapeake Energy’s explanation of how it will resolve looming liquidity issues against their own judgment. More »
Chesapeake Energy says $3 billion loan resolves any liquidity questions
Chesapeake Energy told investors this morning that planned asset sales of $9.5 billion and a $3 billion unsecured loan leave it with sufficient cash flows, as it tried to dispel Friday’s concerns that it might be prevented from selling assets by other debt covenant requirements. More »
There's a lot more to Houston than OTC. Find out where to eat, drink and play. Read more »
Follow Us:
© 2012 Hearst Communications Inc.