Houston Chronicle Energy News

Reporting from the daily edition.
(Getty Images)

Cash-strapped oil firms top Moody’s watch list

In the first quarter, a dozen oil companies including Energy XXI’s operating unit, Midstates Petroleum Co. and Halcón Resources Corp. tumbled into credit-rating territory reserved for the most financially unfit firms, according to Moody’s Investors Service.  More »
(Photographer: Eddie Seal, Bloomberg)

Oil rigs fall by lowest number since December

Total rigs drilling for both oil and natural gas fell by 21 to 1,048, with gas rigs down 9 to 233, and miscellaneous rigs unchanged at 2.  More »
pemexlogo

2 U.S. funds to invest $900 million in Mexican gas pipeline

The Los Ramones pipeline will transport natural gas from Texas to Mexico.  More »
Rep. Sylvester Turner speaks at the Texas State Capitol in 2009. (Jay Janner/Austin American-Statesman)

Electric industry pushes back against bill restricting minimum-use fees

During a late-night hearing in Austin on Wednesday, the companies argued that “minimum use fees” — charged to customers who use too-little electricity each month — are fundamental to the economics of some power plans.  More »
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)

Report: Drilling activity could rebound as service costs fall

The number of wells will fall this year, but drilling should recover by next year as oil companies “seize their chance to drill at lower cost,” the report notes.  More »
Natural gas is flared at a Pioneer Natural Resources well, in Karnes County, Texas in 2010. 
(Eddie Seal/Bloomberg)

Natural gas inventory build sends prices plummeting

The Energy Department reported that natural gas in U.S. storage rose by 12 billion cubic feet to 1.48 trillion cubic feet.  More »
Driller Paul Allison operates the independent Barrett Brothers Number 1 drilling rig in Presideo County between Alpine and Marfa, Texas.

Personal income grew the most in energy producing states in 2014, government data shows

Crude oil prices grew for the first six months of 2014, hitting their peak in June at $107. That helped boost the economies of states like Alaska and North Dakota, where the oil and gas industry are big employers and help bolster state budgets.  More »
(David Paul Morris/Bloomberg)

Chevron to hunt for oil in Myanmar

Unocal Myanmar Offshore Co. Ltd. has signed a production sharing contract with the state oil company, Myanma Oil & Gas Enterprise, to explore the Rakhine Basin.  More »
A Swift Energy Co. production facility in Lake Washington off the Louisiana coast. (Swift Energy Co.)

Eagle Ford producer leases Exxon’s old space

The Houston-based exploration firm plans to move into former Exxon Mobil space in the Five Greenspoint Place 19-story building at 17001 Northchase Drive.  More »
(AP Photo)

Gain in crude inventories beats expectations again

The build brings the total amount of crude the U.S. has in storage to 466.7 million barrels, a record in weekly data stretching back to 1982.  More »
(Photographer: Patrick Semansky/Bloomberg)

Report: Chemical revenues slip but expansions expected to continue

North American chemical companies have seen their revenues slip with the plunging crude price, but they aren’t expected to abandon the billions worth of expansions they announced when profits were higher, a new report finds.  More »
Bloomberg Politics Managing Editor Mark Halperin left, and former Texas Governor Rick Perry right, during a discussion held by Bloomberg, L.P on the economy, energy policies, and his vision for the future of America at the downtown JW Marriott hotel Tuesday, March 24, 2015, in Houston.
( James Nielsen / Houston Chronicle )

Rick Perry: Crude export ban should be lifted

Former Gov. Rick Perry on Tuesday his support behind lifting a decades-old ban on crude exports, calling it a “major error” not to allow U.S. oil to be shipped overseas.  More »
LyondellBasell Bayport plant (Photo: LyondellBasell)

LyondellBasell to expand Pasadena plant

LyondellBasell’s chemical expansion announcement comes as the international chemical and refining company continues to square off with the United Steelworkers employees over premium pay issues.  More »
The West Texas sky silhouettes a Linn Energy pumpjack in the Permian basin. (Linn Energy)

Linn announces $1 billion equity deal

Oil producer Linn Energy signed a deal with Quantum Energy Partners, a private investor, to help fund up to $1 billion in oil and natural gas acquisitions, the companies said Tuesday  More »
Carl Icahn (AP file photo/Gregory Bull)

Carl Icahn boosts stake in Chesapeake Energy

The activist investor’s total stake in the natural gas-producing company has grown to 11 percent.  More »
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