(AP Photo/Gregory Bull, File)

Houston oil startup gets rolling with $250 million infusion

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A New York private equity shop is pouring $250 million into a startup Houston oil producer called TRP Energy, which plans to buy land and fund drilling in U.S. oil fields operated by other companies.
Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)

A single oil rig was shut down last week, extending six month decline

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As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.
Oil Boom Shifts The Landscape Of Rural North Dakota

Despite dramatic drop in rigs, Bakken’s sweet spots remain attractive

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The Bakken has seen a dramatic decline in horizontal rigs since prices collapsed last year, but the play’s sweet spots remain attractive, especially as oil prices begin to inch upward, a new analysis finds.
Original byline: Jim Blecha/

Vanguard Natural Resources scoops up smaller Houston rival for $474 million

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The most recent deal comes on the heels of Vanguard’s announcement in April that it will acquire LRR Energy LP for more than $250 million.
Downtown Houston (Bobby L. Warren/Wikimedia Commons)

Houston gains in energy efficiency while other Texas cities lag, according to scorecard

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Just because the Petro Metro is awash with more oil and natural gas than it has been in decades doesn’t mean the city can’t save a few bucks on its energy bill.
(Brett Coomer / Houston Chronicle)

Willbros Group faces investor activism, proposed board shakeup

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Houston-based Willbros opposes a proposal that is gaining momentum to require each of its directors to face annual reelection — instead of the current, staggered three-year terms — amid accusations of mismanagement and cronyism.
(U.S. Energy Information Administration)

U.S. natural gas imports reach lowest level in 28 years

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Domestic natural gas production has hit record highs during the ongoing shale boom, and the low natural gas prices have played a role in replacing imports. Nearly 98 percent of natural gas imports came from Canada, but Canadian natural gas represented 7 percent of total U.S. natural gas consumption last year, which was down from 11 percent in 2009, according to the EIA.
Jack Welch, former CEO and Chairman of General Electric, in San Francisco on Monday, May 11, 2015.

Former GE CEO Jack Welch tells energy companies to think long term, keep their talent

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Welch, who led GE for 20 years until 2001, said low oil prices are teaching energy companies to become more efficient and potentially more profitable in the long run.
Mexican President Enrique Pena Nieto applauds after signing into law a historic energy reform bill at the National Palace in Mexico City, Monday, Aug. 11, 2014. (AP Photo/Rebecca Blackwell)

Mexico aims smaller with its latest oil and gas property auction

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The latest auction, unveiled last week by regulators, includes 26 mostly smaller properties onshore in the Burgos, Tampico-Misantla and Salinas-Sureste Basins.
A crew in 2012 lowers a section of pipe into the ground with cradles near Winona, Texas. (AP Photo/Tyler Morning Telegraph, Sarah A. Miller)

Pipeline companies must operate more like the upstream sector, execs say

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Houston-based Navitas Midstream, which was founded about 18 months ago, and many others are finding that they must think and act like the upstream sector even though their profits are not as directly linked to the prices of oil and gas, said Bryan Neskora, Navitas chief operating officer, while speaking at the KPMG Global Energy Conference in Houston.