(Photo by Eddie Seal for Bloomberg News)

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.
Siemens CEO Joe Kaeser (Getty Images)

European regulators approve Siemens’ $6.6 billion acquisition of Dresser-Rand

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After a four-month probe, European antitrust regulators on Monday gave Siemens AG the nod to make its $6.6 billion play for Dresser-Rand, a Houston company that makes turbo compressors, turbines, valves and other components for the U.S. oil and gas industry.
(Simon Dawson/Bloomberg)

Transocean’s June drilling contracts come in at year high

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It’s the first time since December that Transocean has drawn more than $100 million in contracts this year, well above the monthly average of $22 million it saw in the first five months of 2015.
Texas Oil Companies Work To Adapt To Falling Oil Prices

Fees for oil field drillers plummeted amid the crude crash, federal data shows

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The Bureau of Labor Statistics Producer Price Index that tracks the costs oil and natural gas firms are receiving for goods and services found that drilling rates, which represent service fees for contractors to drill oil and gas wells, dipped by 19.6 percent from June 2014 to May 2015. Oil and gas prices measured by the Producer Price Index fell by 49 percent during the same timeframe.
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Hercules Offshore to file for bankruptcy

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Shallow-water driller Hercules Offshore is planning to hand ownership of the company to its creditors in a financial restructuring deal that will require it to seek Chapter 11 bankruptcy protection by early July.

Fuel storage manufacturer moving plant from Texas to Oklahoma

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The Conroe-based petroleum and fuel storage tank maker is terminating 62 jobs associated with the plant, but Containment Solutions President Clay Findley said the company will maintain its headquarters in Conroe and keep about 30 employees there.
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Oil storage tank manufacturer closing Conroe plant

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The Conroe-based petroleum and fuel storage tank manufacturer said it will permanently shut the Conroe plant down close to Sept. 1, according to a WARN Act letter filed with the Texas Workforce Commission.
Over thirty oil drilling rigs are idle in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, as rig counts drop in the Permian Basin, Monday, May 18, 2015. (Courtney Sacco/Odessa American via AP)

North Dakota drill rig count drops to lowest since 2009

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The Williston Herald reports the drop occurs as companies are pumping less crude amid oil prices that have plummeting more than 40 percent since last year.
A Chesapeake Energy storage tank near Dilley, Texas. (Pat Sullivan/AP)

Chesapeake Energy seeks dismissal of nonprofits’ lawsuit

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Chesapeake Energy is seeking the dismissal of a lawsuit that alleges it took oil and gas from a property without a lease agreement with the owners.
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Colorado energy companies take trespassing claims to court

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Encana Corp. has sued WPX Energy, saying WPX knowingly drilled a well that passed horizontally through Encana’s mineral estate in the Parachute Creek area without getting Encana’s permission.