A Swift Energy Co. production facility in Lake Washington off the Louisiana coast. (Swift Energy Co.)

Struggling Swift Energy hires firm to weigh financial options

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Houston-based Swift, which closed at 74 cents a share Tuesday on the New York Stock Exchange, has hired Lazard Freres & Co. as an adviser as it considers its capital structure and financing alternatives.
(Jamie Schwaberow/Bloomberg)

Anadarko Petroleum posts 73 percent decline in net income

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Anadarko Petroleum Corp. posted a 73 percent decline in second-quarter net income Tuesday as it got lower prices for the extra oil and gas it was pumping from wells in Colorado and Texas.
(David Paul Morris/Bloomberg)

Chevron to cut 950 jobs in Houston, 1,500 companywide

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Chevron currently counts about 8,000 Houston-area employees and fewer than 65,000 workers worldwide. Chevron had closer to 9,000 Houston workers two years ago.
(Photo by Eddie Seal for Bloomberg News)

Billionaire said to be considering sale of U.S. shale gas holdings

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Indian billionaire Mukesh Ambani’s Reliance Industries Ltd. is weighing a sale of its U.S. shale gas investments, people with knowledge of the matter said.
(Eric Kayne/Houston Chronicle)

LyondellBasell sees 13 percent increase in profits

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Lyondell is expecting to continue growing its earnings in the third quarter amid continued access to swells of cheap natural gas and natural gas liquids, which the company uses as feedstock to manufacture its chemicals.
The head office of Statoil in Stavanger, Norway.  (AP Photo / Kent Skibstad, NTB scanpix, File)

Statoil profit beats estimates

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Statoil and competitors such as Royal Dutch Shell Plc and Total SA are cutting investments and operational costs after oil prices fell by about 50 percent over the last 12 months.
Roughnecks take a break from working the Peterson Drilling Company rig in Carlsbad, New Mexico, February 26, 2000.  (Photo by Joe Raedle)

Texas on track to beat 1972 oil production record

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Even as oil companies pare their spending budgets and pull back from some drilling activity, production in Texas has unexpectedly continued surging toward all-time highs, Karr Ingham, an economist for the Texas Alliance of Energy Producers, said Monday at his twice-per-year assessment of the state’s oil industry.
(Carla Gottgens/Bloomberg)

Coal power is here to stay — for now

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While coal is expected to lose market share, federal projects show that coal-fired generation capacity is expected to remain largely unchanged through 2024.
Workers at the Weatherford rod-pump manufacturing plant prepare to move parts into the plant Thursday, June 26, 2014, in Katy. (Brett Coomer/Houston Chronicle)

Texas manufacturing shows some positive signs in July, but sector still weak from oil-price shock

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While factory activty continues to be tepid, the survey respondents gave a few signs that business picked up in July.
A drilling rig under contract to Shell arrives in Port Angeles, Washington en route to Alaska's Chukchi Sea, where Shell hopes to drill this summer. (Daniella Beccaria/seattlepi.com via AP, File) MAGS OUT; NO SALES; SEATTLE TIMES OUT; TV OUT; MANDATORY CREDIT

Senate bill would give oil companies a decade more to drill in Arctic

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Oil companies could get 10 more years to drill on their Arctic leases, under a provision in a broader offshore drilling bill advancing in the Senate.