Most U.S. energy executives are changing their business models to cut costs

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KPMG found that 56 percent of U.S. energy executives surveyed plan to change their business models in the face of lower-priced oil, although they remain optimistic about the industry.
Richard Kinder at IHS Energy CERAWeek April 22, 2015 (Billy Smith II / Houston Chronicle)

Richard Kinder: Houston needs more public-private investment to attract talent

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Speaking at the Urban Land Institute spring meeting in downtown Houston, Kinder touted the progress his Kinder Foundation has made with Houston’s Discovery Green, Buffalo Bayou Park, the Museum of Fine Arts and more.
(Spencer Platt/Getty Images)

Canadian oil field services company cuts 2,000 jobs across North America

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Oil-services companies are slashing jobs to cope with declining demand from drillers. Baker Hughes Inc., the oilfield-services company merging with Halliburton Co., has reduced about 17 percent of its workforce in recent months.
Sen. Lisa Murkowski, R-Alaska, center, smiles as she speaks about Keystone XL, accompanied by Sen. John Hoeven, R-N.D., left, sponsor of the Keystone XL pipeline bill, and Senate Majority Leader Mitch McConnell of Ky., Thursday, Jan. 29, 2015, on Capitol Hill in Washington. (AP Photo/Jacquelyn Martin)

Senators campaign to end ban on crude oil exports

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Senators unveiled legislation to end the longstanding ban on U.S. oil exports, with hopes to put domestic crude on the same legal footing as gasoline, diesel and other refined petroleum products.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

Crude oil prices rise again after U.S. inventories continue to dip

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U.S. crude inventories declined by 2.2 million barrels from the week prior, which had seen a dip of nearly 4 million barrels. U.S. refinery inputs last week also decreased an average of 379,000 barrels a day from the previous week, according to the U.S. Energy Information Administration update. Refineries operated at more than 91 percent capacity last week.
Oil flows out of the top of the transition spool, which was placed into the gushing Macondo wellhead at the site of the Deepwater Horizon oil spill in the Gulf of Mexico in July 2010. AP Photo/BP PLC, File)

Plan OK’d to drill into BP’s ill-fated Macondo reservoir

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A privately owned Louisiana firm will be looking to extract oil and gas deep under the Gulf of Mexico’s seafloor, an undertaking that proved catastrophic for BP.
(Kristen Hays/Houston Chronicle)

Subsea 7 plans to eliminate 2,500 jobs globally

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Subsea 7 is not yet elaborating on whether its North American headquarters at the Westgate complex in Houston’s Energy Corridor will be impacted much, but the company did say it has begun consulting with employees in the United Kingdom and Norway where a lot of its operations are run.
Ryan Lance, ConocoPhillips CEO, speaks during the opening panel discussion of the 2015 IHS Energy CERAWEEK. (Brett Coomer/Houston Chronicle)

Questions linger for ConocoPhillips on Arctic drilling program following Shell’s OK

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ConocoPhillips paid about $506 million for 98 exploration leases about 100 miles off Alaska’s north coast in 2008. In April of 2013, the company suspended its plans to drill an exploratory well in the sea, citing uncertainty in regulations.
A handout picture released by the Saudi Press Agency (SPA) shows Saudi Arabia's new King Salman bin Abdul Aziz (C) praying along with Kuwaiti Emir Sheikh Sabah al-Ahmad Al-Sabah (2nd L), King Hamad bin Issa al-Khalifa of Bahrain (L) and other dignitaries and officials during the funeral of his half-brother late King Abdullah in Riyadh on January 23, 2015. The desert kingdom's elderly King Abdullah died early in the morning and was replaced by his half-brother Salman as the absolute ruler of the world's top oil exporter and the spiritual home of Islam. AFP PHOTO / HO / SPA == RESTRICTED TO EDITORIAL USE - MANDATORY CREDIT "AFP PHOTO/HO/SPA" - NO MARKETING NO ADVERTISING CAMPAIGNS - DISTRIBUTED AS A SERVICE TO CLIENTS ==-/AFP/Getty Images

Saudi Arabia maintained its oil output surge last month

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Prices collapsed by almost half last year as Saudi Arabia led OPEC in maintaining production rather than cede market share to booming U.S. supply. The group has become more unified about keeping its output target because prices are now rising, according to Kuwait’s oil minister.
(Photo by Eddie Seal for Bloomberg News)

EIA: U.S. shale production set to fall again in June

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Output growth is shrinking even in the Permian Basin, where oil companies have kept more horizontal rigs drilling for oil.