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The top oil-and-gas producing counties in Texas

Six of the top 10 oil-producing counties in Texas are in the Eagle Ford Shale, according to recent data from the Railroad Commission of Texas. Texas in December produced around 2.3 million barrels of crude oil daily. That’s up from a daily average of 1.8 million barrels in December 2013. Karnes County, considered the heart of the Eagle Ford, again […]  More »

Oil industry suppliers cutting jobs

Via Ryan Holeywell and Collin Eaton, FuelFix: HOUSTON — The oil industry’s equipment suppliers are cutting more jobs in Texas and elsewhere as they grapple with falling crude prices. Oil field service company Archer Ltd. says it’s cutting roughly 1,000 jobs, or 11 percent of its workforce, as it faces a sharp slowdown in drilling […]  More »
Scott Sheffield, CEO of Pioneer Natural Resources, addresses the Permian Basin Chapter of Division Order Analysts during a luncheon Wednesday, Feb. 18, 2015 at the Petroleum Club.
James Durbin/Reporter-Telegram

Sheffield: Midland economy will recover, maybe not as strong

The chairman and chief executive officer of Pioneer Natural Resources said during a visit to Midland last week that this is the industry’s fifth major downturn since he arrived in Midland in 1979.  More »
(Tom Reel/San Antonio Express-News)

Eagle Ford shale oil boom turns to bust

More than five years of rising oil prices spurred thriving sales of million-dollar trophy homes in Calgary and a doubling of home prices in the last decade.  More »
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)

Fuel-hauling trains could derail at 10 a year

The federal government predicts that trains hauling crude oil or ethanol will derail an average of 10 times a year over the next two decades, causing more than $4 billion in damage and possibly killing hundreds of people if an accident happens in a den…  More »
Clean up crews  work to collect oil from along side the Yellowstone River in Laurel, Mont., Monday July 4, 2011. An Exxon Mobil pipeline near Laurel ruptured, spilling crude oil into the Yellowstone. (AP Photo/Jim Urquhart)

Exxon Mobil appeals $1 million penalty for Yellowstone River spill

Safety regulators said Exxon Mobil failed to adequately heed warnings that its 20-year-old Silvertip Pipeline was at risk from flooding.  More »

Marathon reducing Eagle Ford spending

Houston-based Marathon Oil Corp. said this week it will spend $1.45 billion this year in the Eagle Ford Shale, about 41 percent of its capital budget for 2015. But the company, like others in the energy industry, is in budget cutting mode. It had planned to spend about $2.3 billion in the Eagle Ford Shale […]  More »

EOG: Drilling, but not completing as many Eagle Ford wells

Plenty of smaller companies have cut spending and drilling plans for 2015. Now the Eagle Ford Shale’s largest players are laying out their plans to cope with lower oil prices. Houston-based EOG Resources, the largest operator in the Eagle Ford Shale, said that it will keep drilling, but plans to slow down well completions. That […]  More »
A couple stands in front of River Street while the waves hit the seawall in Nome, Alaska, in 2011. (AP Photo/Peggy Fagerstrom, file)

Alaska deep-water port proposed for vessels in Arctic waters

As ship traffic has increased, federal agencies have expressed concern about responding to vessels in distress, industrial activities and oil spills.  More »
Scott Sheffield, CEO of Pioneer Natural Resources, addresses the Permian Basin Chapter of Division Order Analysts during a luncheon Wednesday, Feb. 18, 2015 at the Petroleum Club.
James Durbin/Reporter-Telegram

Pioneer’s chairman and CEO: Exporting oil could equate to more jobs, production and investment

Lifting the ban now would be less painful for consumers because if gasoline prices were to rise, the increase wouldn’t be as much, Scott Sheffield said.  More »

Marathon cuts 2015 capital spending by another $1 billion

Via Robert Grattan, FuelFix: HOUSTON — Marathon Oil Corp. said Wednesday it would slash its drilling budget for a second time, as the company reported an operating loss in the final quarter of 2014. The Houston-based independent driller said it will spend $3.5 billion pursuing oil and gas in 2015, down by more than 50 […]  More »
Warren Buffett -- chairman, president & CEO of Berkshire Hathaway -- gestures during a 2013  interview.  (AP Photo/Nati Harnik, File)

Warren Buffett’s firm sells Exxon Mobil shares

Berkshire Hathaway increased its holdings in Suncor Energy and Phillips 66 among other companies.  More »
Rig hands work at a oil drilling site in Knox County, Ohio, (Ty Wright/Bloomberg file)

Court upholds Ohio’s power to regulate drilling

The decision came in a case brought by the Akron suburb of Munroe Falls against Beck Energy Corp. over a state law that gives Ohio “sole and exclusive authority” to regulate the location of wells.  More »
Crews dig up land at a saltwater spill site near Blacktail Creek outside Williston, N.D. A North Dakota health official called the 70,000 barrel spill the state's largest during the state's current oil boom. (AP Photo/Williston Herald, Zack Nelson)

Saltwater spill contained on-site at North Dakota oil well

Murex Petroleum Corp. reported that 500 barrels of saltwater were contained and recovered on site.  More »

Energy execs: Most projects blow past their budgets

Via Ryan Holeywell, FuelFix: HOUSTON — Most energy industry executives say their projects fail to come in on-budget, according to a new survey compiled by consulting firm AlixPartners. The report comes at a time when many executives from exploration and production companies have renewed calls for more capital discipline as falling oil prices are adding […]  More »
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