Yellow oil barrels

Oil eases but remains near $104 a barrel

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The U.S. oil price hit a one-month high earlier in the week.
Sanchez Energy CEO Tony Sanchez III (Billy Smith II / Houston Chronicle)

CEO discusses key behind Sanchez Energy’s rapid growth

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Sanchez Energy’s massive planned Eagle Ford Shale buy announced Wednesday is the latest in a string of acquisitions that the three-year-old company believes will push its revenue to more than $1 billion next year.
(credit: Flickr)

PDVSA signs $2.2 billion oil service financing to boost drilling

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Petroleos de Venezuela SA, the country’s state oil company, signed deals with oil service companies Schlumberger, Halliburton and Weatherford International.
Yellow oil barrels

Oil climbs to $104 as U.S. supplies drop sharply

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A report from the Energy Department showed a drop of 7.2 million barrels in U.S. crude oil supplies.
(Photo: Gerard Van der Leun, Flickr)

Bank loan standards bending for oil companies amid shale rush

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As major shale plays fuel the nation’s energy production, some aspects of Texas banking are starting to echo the overzealous oil and gas lending of the past, says David Zalman, chairman and CEO of Houston-based Prosperity Bancshares.
Yellow oil barrels

Oil down slightly ahead of U.S. supply report

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U.S. crude for June delivery fell 17 cents to close at $102.44 a barrel.
Photo:  commons.wikimedia.org

In the oil & gas industry, there should be no such thing as an “accident”

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The “safety first” message extends – at least in theory – out to the field, where every new engineer and roughneck is constantly told “there’s no such thing as a small incident”, or “if you can’t do it safely, it’s not worth doing”.
A Chesapeake Energy storage tank near Dilley, Texas. (Pat Sullivan/AP)

Chesapeake chasing ‘all-but-forgotten’ shale assets

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Just a month after BP decided to take a $521 million hit to abandon its plans for the Utica Shale, Chesapeake Energy last week called the region its “newest world-class asset.”
(AP Photo/Mike Groll, File)

Calif. county considers fracturing ban

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For the past several months, Santa Barbara County Water Guardians have worked to collect enough signatures to propose a ban on hydraulic fracturing.
Oklahoma state Senate President Pro Tem Brian Bingman, right, R-Sapulpa, looks on during a news conference to announce an agreement on the budget, as state Sen. Clark Jolley, left, R-Edmond, answers a question at a news conference in Oklahoma City. (AP Photo/Sue Ogrocki)

Oil tax incentive change part of Oklahoma budget debate

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The Legislature this year also has yet to reach an agreement on a generous tax incentive currently in place for horizontally drilled wells that reduces the tax from its regular rate of 7 percent to 1 percent.