Ruptured Pipeline Spills Oil Along Santa Barbara Coast

Plains All American says up to 105,000 gallons of oil may have spilled from California pipeline

The Plains All American Pipeline company says in a statement the current estimate remains 21,000 gallons, but it says that figure is under investigation.
Jack Welch, former CEO and Chairman of General Electric, in San Francisco on Monday, May 11, 2015.

Former GE CEO Jack Welch tells energy companies to think long term, keep their talent

Welch, who led GE for 20 years until 2001, said low oil prices are teaching energy companies to become more efficient and potentially more profitable in the long run.
APTOPIX California Oil Spill

Efforts underway to scrub spilled oil from California coast

Workers from an environmental cleanup company strapped on boots and gloves and picked up shovels and rakes to tackle the gobs of goo stuck to sand and rocks along Refugio State Beach on the southern Santa Barbara County coast.
U.S. refineries consumed 245,000 barrels per day more last week than the week before. (Jake Daniels/The Enterprise)

Oil inventories fall for third straight week, and crude price edges up

Total inventories stood at 482.2 million barrels of oil for the week ending last Friday, down 2.7 million from the previous reporting period.
California Oil Spill

4-mile oil slick lines California coast after pipeline spill

Initial estimates put the spill at about 21,000 gallons Tuesday, but that figure would likely change after a Wednesday morning flyover gave a better sense of the spill’s scope, U.S. Coast Guard spokeswoman Jennifer Williams said.
Linn Energy execs ring closing bell at Nasdaq

Linn Energy among hardest hit E&Ps on Wall Street

Jeff Tillery, Houston-based managing director and head of research at Tudor, Pickering, Holt & Co., said Linn’s dip in value made sense because the large offering coincided with a bad day for oil prices.
Oil wells in the Franja del Orinoco region of Venezuela (Houston Chronicle)

Harvest Natural Resources stock spike could signal interest from a buyer

Harvest CEO James Edmiston said a sharp increase in the price of its battered shares could indicate a buyer is looming, but said the company has received no offers.
(Brett Coomer / Houston Chronicle)

Moody’s forecast darkens for debt-laden U.S. producers

Moody’s Investors Service believes 7.4 percent of U.S. oil producers could over the next year default on the risky debt that fueled the nation’s shale boom if crude stays cheap.
Tony Sanchez, chief executive officer for Sanchez Energy Corp. (Eddie Seal/Bloomberg)

Sanchez Oil & Gas makes MLP and executive moves

The Houston-based, exploration and production family of companies began entering the master limited partnership space after acquiring much of Houston-based Constellation Energy Partners LLC. Constellation last year was changed into Sanchez Production Partners, or SPP. But then, in March, the company became a limited partnership in the MLP structure.
(Photo by Eddie Seal for Bloomberg News)

Analysts: Eagle Ford drilling will get a lot cheaper by mid-2016

The oil slump hasn’t stopped producers in the South Texas play from getting better at targeting oil-rich rock in lateral sections of their horizontal wells.