News from the Houston Chronicle energy team

Updated: Study warns against excluding independents from Gulf drilling

If the U.S. blocks independent energy companies from offshore drilling in the Gulf of Mexico, the federal government could forfeit $147 billion in lost taxes and royalty revenue over the next 10 years, according to a new report by IHS Global Insight. The study, which was commissioned by Houston-based Cobalt International Energy Inc., tallies up […]  More »

Cabot gets 60 days for Marcellus water solution

Cabot Oil and Gas has been given a 60-day extension to provide Pennsylvania residents in Susquehanna County with a permanent solution to contaminated water wells. Under a modified consent order with the Pennsylvania Department of Environmental Protection, Cabot is required to provide temporary water services to residents until a permanent solution is implemented, UpstreamOnline said. […]  More »

Public pension funds move forward with BP suits

The WSJ reports that public pension funds in New York and Ohio want to lead a class-action lawsuit against BP, which they say made “false and misleading statements” that caused its stock to trade at higher prices. The funds filed documents Tuesday in U.S. District Court in the Western District of Louisiana requesting that two […]  More »

Chron Energy Newslinks | 07.22.10 | Supersizing spill cleanup. Simmons has doubts. Copano's Eagle Ford boom.

• Oil majors pledge $1 billion to form spill response company. • House passes two measures to improve oil spill clean-up technology. • Well-killing efforts on hold as storm threatens Gulf. • Pre-blowout Transocean survey revealed concerns about safety on doomed rig. • Matt Simmons isn’t buying any of it. • Louisianans rally against offshore […]  More »

Hart Energy says IEA's report on China's energy consumption is correct

On Tuesday, the International Energy Agency said that preliminary data showed China had overtaken the U.S. to become the world’s largest energy user. China disagreed. The Xinhua News Agency said that a Chinese energy official rejected the IEA’s report, saying its data on China’s energy use is unreliable. According to the IEA, China consumed 2.252 […]  More »

Witness list for Houston hearings… expect revisions

The joint Coast Guard/Bureau of Ocean Energy investigation of the Deepwater Horizon accident is hitting the road next month and coming to Houston. Attorneys close to the case tell us it’s, in part, because being in Houston would extend the panel’s supoena power and force witnesses that live or work in this area (or, technically, […]  More »

Map of spill, July 22

Map of spill, July 22  More »

House passes legislation to boost spill response

The House of Representatives today unanimously passed two proposals designed to boost oil spill cleanup technology and lower the environmental risks of offshore drilling — the first spill-related legislation to advance out of the House or Senate in the wake of the Deepwater Horizon disaster. One of the measures aims to speed the development of […]  More »

Lawmakers push Obama to visit energy workers

When President Barack Obama visits Houston next month to help Democrats raise campaign cash, some Texas lawmakers hope he’ll also spend time with energy workers in the region whose jobs may be threatened by the deep-water drilling moratorium. Rep. Kevin Brady, R-Texas, invited Obama to “come and visit with Gulf Coast workers” in a letter […]  More »

Caribbean storm could delay well kill

BP and federal officials are continuing to watch a tropical wave that may threaten the Gulf of Mexico’s Macondo well area, saying operations could be halted for 10 to 14 days should a major storm strike. Admiral Thad Allen said in a conference call this morning BP and government scientist are reviewing a number of […]  More »

Shell evacuating from Gulf of Mexico

Update: Shell has issued a correction to note that it is a tropical disturbance, not a depression. As mentioned lower in this post, the weather system is a tropical wave, which has a 60 percent chance of developing into a tropical disturbance today or tomorrow. —– Because of Tropical Depression #22, Shell has begun evacuating […]  More »

BP gets boost on asset sale to Apache

BP rose in London trading today after announcing yesterday that it is selling oil and gas assets to Apache Corp. for $7 billion, Bloomberg said. BP climbed as much as 4 percent and traded at 402.65 pence as of 10:20 a.m. local time. The stock is down 39 percent since the Deepwater Horizon rig exploded […]  More »

Efforts to save Gulf killing Louisiana's oysters

The WSJ reported yesterday that strategies to keep parts of the Gulf of Mexico oil-free are actually causing oysters in Louisiana to die. In April, Louisiana officials opened gates along the levees of the Mississippi River. The goal was to let river water pour outward through channels and coastal marshes to keep oil out. It’s […]  More »

BP's Hayward — Will he stay or will he go?

BP Chief Tony Hayward will be stepping down within the next 10 weeks — at least that’s what the UK’s Times reported yesterday. The Times, citing sources close to the company, said Hayward is expected to announce his departure in late August or September, Reuters said. Hayward would have to step down so that BP […]  More »

Chron Energy Newslinks | 07.21.10 | Sealed but not measured. Texas fracks just fine, says Perry.

• Well seal success could mean no accurate flow measurement. • BP’s troubles make Apache’s gain in $7 billion deal. • Halliburton warned BP of well issues two days before blast. • Oil skips most Florida beaches, but so do many tourists. • White House grip over spill details tightens. • The A Whale that […]  More »