(Nabors)

Nabors posts $891 million net loss in fourth quarter

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The charges included a $612 million impairment the company booked on its older rigs.
(Melissa Phillip/Houston Chronicle )

Houston’s richest man got richer despite crashing oil prices

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Forbes released its list of the richest people in the world Monday, and several of Houston’s billionaires saw their fortunes rise.
Photographer: Daniel Acker/Bloomberg

Magellan Midstream and Plains All American plan crude line from Colorado

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Plains and Magellan indicated that the new line would be supported by binding commitments from producers Noble Energy and Anadarko Petroleum Corp.
Prime Minister Vladimir Putin of Russia visits an oil rig in the Caspian Sea operated by Lukoil, April 28, 2010. (Alexei Druzhinin/Pool via The New York Times)

How much more economic pain can Vladimir Putin take?

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It looks like the one-two punch of sanctions and cheap oil are about to wreck Russia.
Exxon-Same-Sex-Benefits

Lawsuit alleges Exxon denied more claims than paid

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Two batches of bad fuel produced at Exxon Mobil in mid-March 2014 caused some Baton Rouge area drivers to experience problems with their intake and valve systems.
(Daniel Acker/Bloomberg)

Buffett praises Exxon Mobil even after selling oil firm

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Buffett appeared on CNBC Monday after releasing his annual letter to Berkshire shareholders over the weekend.
(Susana Gonzalez/Bloomberg)

Pemex negotiates lower rig rates as crude collapse hurts profit

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Pemex is in talks with oil service and jack-up rig providers to reduce daily rates after the board approved cutting more than $4 billion from its 2015 budget last week.
John Melko (photo: Gardere Wynne Sewell)

Guest commentary: dealing with low energy prices

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Many Texans have seen this movie before, and some of us have seen it several times. Until the commodity cycle turns, as it always does, refocus on the basic blocking and tackling of running a business. Take protective measures to guard against avoidable losses.
The Orion Drilling Co.'s Perseus drilling rig operates in the Eagle Ford Shale in Webb County, Texas.  (Photo: Eddie Seal, Bloomberg News)

Oil rig count falls by 33, as decline continues

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The total rig count fell by 43, with 33 oil rigs and 9 gas rigs lost, according to data released Friday by oil service company Baker Hughes.
A Petronas logo is seen near its twin towers in Kuala Lumpur, Malaysia.  (AP file photo/Lai Seng Sin)

Petronas turns to $2.7 billion fourth-quarter loss on oil slump

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Petronas won’t generate enough cash from operations this year to cover capital spending and dividend commitments, said Vikas Halan, a Singapore-based vice president at Moody’s Investors Service Inc., estimating the shortfall to be at least 10 billion ringgit.