A rig works in the Barnett Shale. (Enervest)

EnerVest Ltd. to spend $1 billion on producing assets in Va., South Texas

Houston oil and gas producer EnerVest Ltd. has agreed to purchase two assets in Virginia and South Texas for $1 billion, expanding the private company’s portfolio at a time when others are shrinking their footprint and shedding acreage to raise much-needed cash.
Dynegy CEO Robert Flexon is at the company's commercial desk. (Photo/James Nielsen)

Dynegy reports net income loss, coal plant closure

Dynegy acquired 21 new power plants in the spring in the Midwest and New England regions and the company said its operating income jumped up to $107 million for the quarter, up from $22 million in the same period last year, with the added power production. The company announced its earnings after the markets closed Wednesday.
Greg Armstrong, CEO of Plains All American Pipeline, at the company headquarters Thursday Sept. 25 2013.(Dave Rossman photo)

Plains All American will cut 2016 spending, sell assets

The Houston-based company, which is among the largest crude oil logistics businesses in the U.S. and Canada, said it would cut its 2016 capital budget by as much as 30 percent.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Struggling Key Energy exits international markets

Key Energy continued its retreat from international oil patches as the embattled oil field services company struggles with a diminishing demand for its services.
A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)

Paragon Offshore offers an extra year’s pay to keep execs

As oil companies scrap cash bonuses and raises amid a brutal downturn with no end in sight, one offshore drilling company is offering extra pay for some key employees it hopes to keep during difficult times.
A pipeline sign marks  the main U.S. oil pipeline and storage hub at Cushing, Oklahoma. (Bloomberg photo)

Oil prices dip as crude stockpiles jump

The news put pressure on oil prices that had risen early in the week.
David Crane, president and chief executive officer of NRG Energy, Inc. ,  looks at Solar panels above a parking lot at Arizona State University in Tempe, Arizona Tuesday June 11, 2013. (Laura Segall/ Bloomberg News)

NRG posts first quarterly profit of 2015, but it’s down from last year

NRG, which is in the midst of a “reset” to cut costs and spin off its financially struggling solar and wind businesses, announced $67 million in net income for the quarter, down from $182 million during the same time last year.
Wayne Knox, Assistant Construction Manager - Contractor for TransCanada's Keystone XL project looks at a pipe before it's lowered into the ground in Wood County, Wednesday, Oct. 24, 2012, in Winnsboro. (Cody Duty / Houston Chronicle)

TransCanada delay could fix Obama administration’s Keystone dilemma

The Calgary-based company called for a delay while a Nebraska route review is underway, a process expected to take seven months to a year.
(AP Photo/Nabil al-Jurani, File)

Oil crash spreading political strife around the world, State Department rep says

The collapse in oil and natural gas prices is creating an uneasy situation for some producing nations that rely on that revenue to function, a U.S. state department official said Tuesday at a conference in Houston.
(Helge Hansen/Statoil ASA)

Statoil greenlights world’s first floating wind farm

After installing its first large-capacity, operational wind turbine floating offshore in 2009, Statoil said the project costs have reduced by more than 60 percent.