Power generator Calpine, headquartered in downtown Houston, supports new federal rules on carbon emissions. (Chronicle photo)

Calpine will support new CO2 rules Texas is challenging in court

Power plant operator Calpine will file court papers in support of emissions rules that the state of Texas has sued to stop.
A rig works in the Barnett Shale. (Enervest)

EnerVest Ltd. to spend $1 billion on producing assets in Va., South Texas

Houston oil and gas producer EnerVest Ltd. has agreed to purchase two assets in Virginia and South Texas for $1 billion, expanding the private company’s portfolio at a time when others are shrinking their footprint and shedding acreage to raise much-needed cash.
A gallon of regular averaged  $2.21 nationwide Wednesday, the cheapest  heading into the holidays since 2008, and analysts say the national average may drop below $2 by the end of the year. (AP Photo/Gene J. Puskar)

We’re driving more miles, paying less for gasoline

Regular gasoline averaged $1.92 a gallon in Houston on Wednesday.
Jeremy Thigpen

Transocean’s adjusted earnings fall 10 percent amid waning interest in offshore projects

Transocean’s adjusted net income slipped 10 percent in the third quarter as diminishing interest in offshore drilling led to a lower utilization of the offshore drilller’s fleet.
Categories: General

Obama’s State Department rejects request to halt Keystone XL review

Although the move stopped short of a final decision on the $8 billion project, it was seen as paving the way for an eventual rejection of the proposed pipeline.
A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)

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

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.
David Crane, president and chief executive officer of NRG Energy, Inc. ,  looks at Solar panels above a parking lot at Arizona State University in Tempe, Arizona Tuesday June 11, 2013. (Laura Segall/ Bloomberg News)

NRG posts first quarterly profit of 2015, but it’s down from last year

NRG, which is in the midst of a “reset” to cut costs and spin off its financially struggling solar and wind businesses, announced $67 million in net income for the quarter, down from $182 million during the same time last year.
Lights are on at the U.S. Capitol on October 7, 2013 in Washington, DC. Democrats and Republicans are still at a stalemate on funding for the federal government as the shut down goes into the seventh day.  (Photo by Mark Wilson/Getty Images)

End of the road for oil exports on highway bill

Oil producers and their allies in Congress had hoped to use the highway bill as a vehicle for unrelated provisions lifting the 40-year-old ban on U.S. crude exports.

State Sen. Cathy Giessel, right, speaks on the floor of the Alaska Senate during debate on a bill to authorize the buyout of one of the state's partners in a proposed gas project, Tuesday, Nov. 3, 2015, in Juneau, Alaska. The bill passed the Senate 16-3. (AP Photo/Becky Bohrer)

Alaska Senate approves TransCanada buyout bill

The Alaska Senate on Tuesday approved legislation that would give the state a greater share in a proposed liquefied natural gas project by buying out one of the project’s partners.
(Plains All American)

Plains All American sees profit slip amid crude slump

In a release after the markets closed, the Houston-based oil logistics company maintained its position that the next few months would be challenging and also reiterated that it expects to be well positioned when prices recover.