Transocean's Deepwater Asgard arrived in the Gulf of Mexico in April 2015 to work under a two-year contract with Chevron. (Chevron)

Transocean will reduce fleet to meet tough market

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The world’s largest offshore operator is also cutting back its workforce and consolidating most of its support functions in Houston.
A Marathon Oil drilling rig works in the Bakken Shale of North Dakota. (Houston Chronicle)

Marathon Oil to sell non-core assets, boost shale

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The Houston producer’s plan to get rid of conventional drilling assets comes as several other companies plan similar divestitures.
A Linn Energy relief driller loads drill rods onto a rig in Indiana, Pennsylvania in the Appalachian Basin. (AP file photo/Andrew Rush)

Impairment charge drives Linn Energy into third-quarter loss

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Linn Energy said Thursday that cheap oil prices forced a $2.3 billion write down of its oil reserves.
An oil well owned an operated by Apache Corporation in the Permian Basin are viewed on February 5, 2015 in Garden City, Texas. (Photo by Spencer Platt/Getty Images)

Apache pulls back rigs but still expects to grow production

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Despite the downturn, the Houston oil producer believes it can boost its oil production this year
A CenterPoint Energy employee in Houston on May 21, 2013. (Cody Duty / Houston Chronicle)

CenterPoint posts earnings loss from midstream investment

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Minus the $537 million loss from its MLP, Houston’s energy transmission company said it had a $146 million net income gain for the quarter, up slightly from $143 million during the same period last year.
Lee Tillman, of Marathon Oil Company, delivers remarks in  the Unconventional Impact Pane during the Offshore Technology Conference at NRG Park on May 5, 2014, in Houston, Tx. (Mayra Beltran/Houston Chronicle)

Marathon Oil plans 29 percent spending cut, posts loss

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Marathon Oil Corp. lost $749 million in the third quarter, writing down the value of some oil assets and scaling back efforts to look for oil and gas in conventional plays.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Struggling Key Energy exits international markets

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Key Energy continued its retreat from international oil patches as the embattled oil field services company struggles with a diminishing demand for its services.
A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)

Paragon Offshore offers an extra year’s pay to keep execs

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As oil companies scrap cash bonuses and raises amid a brutal downturn with no end in sight, one offshore drilling company is offering extra pay for some key employees it hopes to keep during difficult times.
(Getty Images)

Energy loan losses to rise, regulator says

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“Losses in energy-related loans have been moderate so far, although we are likely to see some increases in the months ahead,” U.S. Comptroller of the Currency Thomas Curry said in a speech in Boston on Monday.
(AHIKAM SERI/AFP/Getty Images)

Noble down $283 million in third quarter

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Despite pumping more oil and gas than it did the same time a year ago, Noble Energy swung to a loss in the third quarter as anemic prices couldn’t offset the higher volumes.