(AP Photo/Hasan Jamali)

Quicksilver Resources seeks bankruptcy

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Quicksilver, which had around 340 employees in February 2014, has asked the federal bankruptcy court for approval to continue its business as normal and to keep paying employee wages and salaries and providing benefits.
In this Thursday, Sept. 11, 2014 photo, workers lay cables on a new oil rig under construction for China National Offshore Oil Corp. (CNOOC) in a shipyard in Qingdao in east China's Shandong province. The Chinese exploration rig at the center of a tense maritime standoff with Vietnam earlier this year has made its first deep sea gas discovery in the politically volatile South China Sea, state media announced Tuesday, Sept. 16. The discovery by CNOOC was made about a month after its rig withdrew in July from Vietnam's exclusive economic zone to far less-contested waters closer to China. (AP Photo) CHINA OUT

Oil producer Nexen cuts workforce by 400

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Nexen is a wholly-owned subsidiary of CNOOC Limited, one of China’s major national oil companies.
(AP Photo/Hasan Jamali)

Dragon Oil gets buyout approach from Emirates National Oil

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Emirates National has been seeking new oil supplies. Dragon produced an average of 78,790 barrels of oil a day last year with sales of $1.09 billion.
July 16, 2013,  workers at the crash site of the train derailment and fire in Lac-Megantic, Quebec. The July 6, 2013 derailment left 47 people dead.  (AP Photo/Ryan Remiorz, Pool)

Canada safety board says tank car standards needed sooner

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A new standard was enacted in Canada after a fiery derailment in July, 2013 in the center of Lac-Megantic, Quebec, killed 47 people, but oil trains meeting the new standard continue to derail and catch fire throughout North America.
apache corp. irion wolfcamp barnhart

Moody’s: North American oil companies cut capital spending 41 percent in 2015

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North American exploration and production companies have collectively cut their capital budgets this year by 41 percent, according to a new analysis published Tuesday by Moody’s Investors Service.
Ryan Lance, chairman and CEO of ConocoPhillips, addresses the audience during the Geopolitics of Natural Gas at Rice University, Friday, Feb. 21, 2014, in Houston. (Marie D. De Jesús/Houston Chronicle)

ConocoPhillps slashes spending plans for coming years

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The largest independent producer of oil and gas had been signalling plans to spend an average of $16 billion per year, but earlier this year, the company whittled its 2015 capital expenditure budget by $2 billion to $11.5 billion.
(Daniel Acker/Bloomberg)

Oil production falling in three big shale plays, EIA says

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Crude production at three major U.S. shale oil fields is projected to fall this month for the first time in six years, the U.S. Energy Information Administration said Tuesday.
(Photo by Eddie Seal for Bloomberg News)

Tourmaline hunts for energy deals as rivals dump assets

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Tourmaline is growing as peers shed assets and reduce dividends with U.S. crude hovering below $50 a barrel.
(Kristian Helgesen/Bloomberg)

North Sea oil industry under siege seeks U.K. tax cuts

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The picture for North Sea today is grim. Production is less than half its peak in the 1990s, when the U.K. was a leading oil and gas exporter, giving the government billions in taxes to spend.
(AP Photo/Hasan Jamali)

OPEC expects U.S. oil production to fall in late 2015

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OPEC pegs the potential decline in U.S. liquids output at 80,000 barrels a day in the second half of the year, down from a peak of 13.71 million barrels a day in the second quarter to 13.63 million barrels a day by the fourth quarter.