Derailed oil tanker train cars burn near Mount Carbon, W.Va., Monday, Feb. 16, 2015. A CSX train carrying more than 100 tankers of crude oil derailed in a snowstorm, sending a fireball into the sky and threatening the water supply of nearby residents, authorities and residents said Tuesday. (AP Photo/The Daily Mail, Marcus Constantino)

To boost the safety of moving oil by rail, focus on the tracks, paper argues

From integrity sensors to measurement systems, an array of technologies can help ensure tracks are sound, said Brigham McCown, chairman of the alliance and a former head of the Pipeline and Hazardous Materials Safety Administration.

Miller Energy executives charged with accounting fraud

The SEC is levying the charges at current Chief Operating Officer David M. Hall and former Chief Financial Officer Paul W. Boyd, who left the company in 2011. The audit team leader at the company’s former independent auditor also was charged.
Marathon Bakken drilling

Marathon Oil CEO says company can profit with low oil prices

Without giving details on the buyer or buyers, Marathon is in the process of selling $100 million in natural gas assets in East Texas, North Louisiana and Wilburton, Oklahoma.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Goldman sees oil staying lower for longer to end supply glut

Storage may be filled by the fall with global crude oversupply running at 2 million barrels a day and low-cost producers continuing to boost output, Goldman analysts including Jeffrey Currie said in a report on Thursday.
(Simon Dawson/Bloomberg)

Transocean profit falls 41 percent

Transocean, which has its main U.S. offices in Houston, said its profit of $342 million, or 93 cents a share, was down from $587 million, or $1.63 a share, in the April-June period last year. Revenue fell from $2.3 billion to $1.8 billion.
(Jason Alden/Bloomberg)

Texas electric grid breaks demand record, again

On July 29, ERCOT asked Texas consumers to reduce their power use to reduce the chance of outages, though Jones said the electric grid has been able to provide capacity as high as 71,000 megawatts.
Lee Tillman, of Marathon Oil Company, delivers remarks in  the Unconventional Impact Pane during the Offshore Technology Conference at NRG Park on May 5, 2014, in Houston, Tx. (Mayra Beltran/Houston Chronicle)

Despite spending cuts and cost savings, Marathon Oil posts $386 million loss

A collapse in crude prices trumped other efforts by the Houston-based exploration and production company to balance its budget, including boosting its production and paring back its budget.
Oil field workers in 2012  drill into the Gypsum Hills near Medicine Lodge, Kan.   U.S. Steel said Tuesday it will lay off about 750 employees from two plants that make tubular steel, which is used in oil and gas drilling(AP Photo/Orlin Wagner, File)

Goodrich aims to keep afloat as stock plummets

Chairman and CEO Gil Goodrich said in a conference call the company is selling much of its Eagle Ford Shale acreage in Texas for $118 million to “boost our liquidity and lengthen our runway.” The sale is going to an unnamed buyer so Goodrich Petroleum can keep itself afloat financially and pay off existing debt. The company said it would net a $50 million gain from the deal.
(Photo by Eddie Seal for Bloomberg News)

2015 already a record year for writedowns, IHS says

Beleaguered drillers wrote off $29 billion in the first quarter of the year alone, more than the 2014 full-year total of about $25 billion.
(Spencer Platt/Getty Images)

Freeport-McMoRan Oil and Gas slashes capital spending by 30 percent

Freeport-McMoRan Oil and Gas is evolving into a “leaner, longer” business plan as it slashes its planned capital spending in 2016 and 2017 from $2.9 billion down to $2 billion. It’s $2.8 billion capital spending this year is being maintained, but it is still much lower than the original estimate of $3.5 billion given late last year.