A Noble Energy rig off the south coast of Cyprus in the Mediterranean Sea. (AP Photo/Cyprus Press and Information Office, File)

Fitch: More offshore drillers could seek bankruptcy after Hercules

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Hercules Offshore may not be the last cash-strapped offshore driller to file for chapter 11 bankruptcy protection, as energy companies struggle to cope financially with one of the worst downturns in recent decades, Fitch Ratings said Friday.
(AP Photo/Mikhail Metzel)

Russia’s largest oil producer bucks global slump in drilling

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OAO Rosneft, the world’s largest traded oil producer, increased drilling by 27 percent in the first seven months of the year, according to a statement. That helped the company stabilize output in the first half, Chief Executive Officer Igor Sechin said in Moscow on Friday.
A  2010 file photo shows a sign at a BP  station in London. (AP Photo/Alastair Grant, File)

FERC judge rules against BP in gas manipulation case

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The judge’s decision will be taken up for consideration by FERC’s five-member commission, which will issue a final ruling on the case.
(JEFF PACHOUD/AFP/Getty Images)

Retail gasoline prices down a nickel across Texas

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AAA Texas on Thursday reported the nationwide price at the pump held steady at $2.62 per gallon.
Marine police officers hold pieces recovered from the helicopter which crashed into a lagoon at the Oworonshoki district of Lagos, on August 12, 2015.  At least four people were killed and six wounded when a helicopter plunged into a lagoon in Nigeria's commercial hub Lagos on August 12, emergency services said. (PIUS UTOMI EKPEI/AFP/Getty Images)

Oklahoma man killed in helicopter crash in Nigeria

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Marine police and fishermen calling for body bags raced to a dock Thursday and delivered the bodies of Capt. Joseph “Jay” Wyatt of Oklahoma and First Officer Peter Bellow of Nigeria, according to the helicopter’s owner, Bristow Group of Houston, Texas. A statement from the company did not give Wyatt’s home town.
Rig workers pause while mopping the decks on a Hercules rig. (Smiley N. Pool/Houston Chronicle)

Hercules Offshore files bankruptcy with plan to convert debt

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In court papers filed in Delaware federal bankruptcy court, the Houston driller said it had more than $1.3 billion in debt and about $546 million in assets. It said it expects to be in bankruptcy proceedings for 45 to 60 days and that it doesn’t anticipate it will halt daily operations.
FILE - In this Dec. 22, 2014 file photo, an Iranian oil worker rides his bicycle at the Tehran's oil refinery south of the capital Tehran, Iran. Oil prices that slumped steeply earlier this year may take another hit once a historic deal between the West and Iran allows that country to start pouring more crude into a market already brimming with supply. (AP Photo/Vahid Salemi, File)

Iran targets 45 oil and gas projects in plan to boost production

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Oil producers such as BP Plc and Royal Dutch Shell Plc have expressed interest in developing Iran’s reserves, the world’s fourth-biggest, when sanctions are removed following last month’s nuclear agreement with world powers.
(Jim Gehrz/Minneapolis Star Tribune/MCT)

Oil at $30 is no problem for some cost-cutting Bakken drillers

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In McKenzie County, North Dakota, one of the core areas of the Bakken, the median breakeven price is a little more than $29 a barrel, Foiles said. That’s about a third less than in nearby Williams County, and it’s less than half the average breakeven price for the Bakken that banks and research firms estimated last fall.
(AP file photo/George Osodi)

Helicopter flying from oil rig crashes in Nigeria, killing 4

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Spokesman Yakubu Dati of the Federal Airports Authority of Nigeria said the helicopter belongs to Bristow, a Houston, Texas-based firm that charters helicopters to oil and gas companies.
(AP Photo/Matthew Brown)

29 people indicted in Bakken crime fighting investigation

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State and federal authorities say 22 people from western North Dakota and seven from California have been indicted on drug charges. They range in age from 21 to 56.