Former Enron CFO Andrew Fastow was moved to a halfway house in Houston to serve out the rest of his sentence for pleading guilty to conspiracy.  More »

The new capital budget is an increase from the $7.5 billion Apache said last month it planned to spend, as the Houston-based independent seeks to tap some of the $11 billion worth of projects it acquired last year.  More »

Executives from the five biggest oil companies are set to argue against proposed tax hikes during a Senate Finance Committee hearing today. Exxon Mobil CEO Rex Tillerson will tell the panel that Democrats are unfairly singling out the firms with a plan to eliminate tax credits and deductions used broadly by other industries.  More »

BDT Capital Partners and former Murphy CEO Claiborne Deming have put $110 million into Houston’s Tudor Pickering Holt.  More »

A Texas lawmaker says shale gas drilling is so well established that is shouldn’t need a state tax incentive. Drillers say removing the tax break would hamper the Texas economy.  More »

San Antonio-based Tesoro Corp. said it expects units of the new company it is forming to be priced between $19 and $21 a share. Its initial assets will include a crude oil gathering system, eight refined products terminals, a crude oil and refined products storage facility and five related short-haul pipelines.  More »

The very same banks that taxpayers bailed out, and saved from going completely belly up, are now making you pay once again in the form of higher Oil prices, and the resultant higher gasoline prices at the pump. Don`t be fooled by the rhetoric generated in the media by the Big Banks regarding the Middle East.  More »

A lawsuit filed by a private citizen claims the company took improper deductions from the gas production values it reported to federal officials.  More »

The Houston-based power producer said in a regulatory filing it may need to amend or replace its credit facility or secure additional capital to continue as “a going concern over the next twelve months” as its cash flow has been reduced by low power prices.  More »

Oil field services firm Weatherford moved its headquarters to Switzerland a few years ago to avoid paying higher tax rates as a U.S. corporation. The firm may also have shed its ability to accurately account for its tax liabilities. Late Tuesday it reported more than $500 million in income tax errors.  More »

Were early oil spill flow rates misrepresented in order to slow a crash in BP’s stock price? Investigators with the Justice Department and Securities and Exchange Commission want to know.  More »

Shareholders will receive a quarterly dividend of 66 cents per share, a 20 percent increase, the Houston-based oil company said. ConocoPhillips plans to spend $13.5 billion this year to drill wells, build oil platforms and repair refineries, a 21 percent increase over its 2010 capital-spending plan.  More »