EnergyWatch

News from the Houston Chronicle energy team
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)

BP investors win bid to form class in oil spill lawsuit

Some BP investors can form a class to sue the company over allegations it misled shareholders on how much oil spilled into the Gulf of Mexico in 2010, a federal judge ruled late Tuesday.  More »
A new industry-commissioned study finds the pipeline industry has been an economic boon for Texas.

PDVSA signs $2.2 billion oil service financing to boost drilling

Petroleos de Venezuela SA, the country’s state oil company, signed deals with oil service companies Schlumberger, Halliburton and Weatherford International.  More »
Jack Fusco

Calpine announces leadership moves as new CEO takes over

Houston-based Calpine Inc. announced a series of personnel moves following Steve Pruett’s promotion to company CEO.  More »
(Tom Reel/San Antonio Express-News)

Regulators: Eagle Ford boom tempts banks to make riskier loans

Long years of wringing small profits from cheap loans have tempted banks to lend more money under riskier terms, and nowhere more so than in the Texas oil boom towns where restaurateurs and hoteliers come calling every day, regulators say.  More »
A BP company logo sits on display on the forecourt of a gas station operated by BP in London. (Chris Ratcliffe/Bloomberg)

BP will take Gulf spill settlement fight to Supreme Court

BP said Wednesday it will take the courtroom fight over its multibillion-dollar oil spill settlement to the Supreme Court.  More »
Russia's President Vladimir Putin, and China's President Xi Jinping, right, smile during signing ceremony in Shanghai, China on Wednesday, May 21, 2014. China signed a long-awaited, 30-year deal Wednesday to buy Russian natural gas worth some $400 billion in a financial and diplomatic boost to diplomatically isolated President Vladimir Putin.  ( Alexei Druzhinin/AP)

China signs 30-year deal for Russian natural gas

China signed a landmark deal Wednesday to buy Russian natural gas worth about $400 billion, giving a boost to diplomatically isolated President Vladimir Putin and expanding Moscow’s ties with Asia.  More »
(Photo: Gerard Van der Leun, Flickr)

Bank loan standards bending for oil companies amid shale rush

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.  More »
(Matthew Lloyd/Bloomberg)

Supreme Court may be BP’s only recourse in oil spill fight, legal experts say

In the wake of a courtroom defeat this week, BP’s top brass is still mulling over whether to take the company’s legal fight over its multibillion-dollar oil spill settlement to the Supreme Court. But the high court likely will not take up the case even if the London oil company requests its judgment, legal experts said Tuesday.  More »
Traffic is jammed in both directions on Interstate 405 near Los Angeles. (AP Photo/Reed Saxon, file)

AAA: Gas prices flat or down slightly this Memorial Day

An estimated 36.1 million Americans will travel at least 50 miles this holiday weekend, the highest total since the recession, AAA forecasts.  More »
A Chesapeake Energy storage tank near Dilley, Texas. (Pat Sullivan/AP)

Chesapeake chasing ‘all-but-forgotten’ shale assets

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.”  More »
An unidentified worker steps through the maze of hoses being used at a remote fracking site being run by Halliburton for natural-gas producer Williams in Rulison, Colo. (AP Photo/David Zalubowski, File)

See? Webster says you spell it with a K

Weighing in on a debate over how to spell the shortened term for the well stimulation process called “hydraulic fracturing,” Webster goes with “frack” and “fracking.”  More »
baker hughes walking rig

Report: Horizontal rigs surging in Permian Basin

Half the increase in horizontal drilling over the last five months has happened in the Permian Basis, according to a new U.S. Energy Information Administration report.  More »
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