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Yellow oil barrels

Oil falls after 4 nations fail to pledge output cuts

WTI for January delivery fell $1.69 to $74.09 a barrel on the New York Mercantile Exchange.  More »
The Freeport LNG plant on April 9, 2014 at Quintana, TX.(Thomas B. Shea/for the Houston Chronicle)

Freeport LNG secures financing, clears way for construction

Crews are expected to begin work this week on the Brazoria County natural gas export terminal now that Freeport LNG has successfully closed on its financing commitments for two of three liquefaction trains.  More »
A tall steel tower on board the Cidade de Angra Dos Reis flares natural gas extracted from Petrobras’ Tupi field. (Houston Chronicle)

United States’ SEC subpoenas Brazil’s Petrobras

The subpoena is the latest chapter in a saga about the corruption scandal at Petrobras.  More »

Texas takes over greenhouse gas permitting from EPA

Texas’ environmental agency this month started issuing greenhouse gas permits – a move that’s expected to help speed the build-out of needed pipelines in the oil field. EPA had been issuing the permits since 2011 because the Texas Commission on Environmental Quality had initially refused to do so. The Texas Legislature passed a law in […]  More »

ConocoPhillips: 157,000 daily barrels and counting in the Eagle Ford

ConocoPhillips is on its way to making 250,000 barrels of oil equivalent in the Eagle Ford Shale. Jeffrey Sheets, executive vice president of finance and CFO, spoke recently at the Bank of America Merrill Lynch Global Energy Conference, and said the company is producing around 157,000 daily barrels in the field now. “The Eagle Ford […]  More »

IHS report: Most shale drilling still ‘resilient’

  Dropping crude oil prices aren’t a problem so far in the majority of U.S. shale production areas. A new report from IHS says that most shale oil is economic and that about 80 percent of potential 2015 drilling remains “resilient” at prices as low as $70 per barrel. Crude oil was trading just below […]  More »
(Image: Fotolia)

Oil rises again on Chinese interest rates

WTI for January delivery advanced 66 cents to settle at $76.51 a barrel on the New York Mercantile Exchange  More »

Feds accuse three in alleged scheme to steal Eagle Ford Shale oil

Federal authorities this week said that three men schemed to steal Eagle Ford Shale oil from energy companies Anadarko Petroleum Corp. and Newfield Exploration Co. A federal indictment alleges that the men devised a scheme to use wastewater vacuum trucks over a two-and-a-half-year period to steal oil stored in tanks on ranches. Instead of loading […]  More »

Lewis Energy wins Employer of the Year honor

San Antonio-based Lewis Energy Group was named the Employer of the Year by the Texas Workforce Commission. The commission is holding its 18th Texas Workforce Conference this week in Grapevine. Lewis has an operations center in Encinal in La Salle County that has grown from 200 employees to 1,200 in two years. The company expects to hire another […]  More »

Navitas announces pipeline for northern edge of the Eagle Ford

The Woodland-based Navitas Midstream Partners LLC this week announced a long-term, fee-based agreement to provide gathering and processing services in the northeastern part of the Eagle Ford Shale. Navitas did not identify the producer it’s working with in Brazos and Grimes counties. Navitas will build the La Bahia system, a 20-inch gathering line that will […]  More »

Eagle Ford helps boost bond ratings

The nearby Eagle Ford Shale appears to be helping San Antonio and nearby cities keep their bond ratings high. Among the factors listed by the ratings agency Fitch, which assigned the AAA status to several San Antonio bonds, was the Eagle Ford oil play. The AAA bond-rating status allows the city to sell its bonds […]  More »
Yellow oil barrels

Oil price has its first gain in four days

WTI for January delivery, the most-actively traded, rose $1.35, or 1.8 percent, to $75.85 a barrel on the New York Mercantile Exchange.  More »

West Texas man indicted for alleged oil stealing scheme

From Midland Reporter-Telegram staff reports A federal grand jury in Midland on Wednesday indicted a Monahans man in connection with a scheme to steal oil with an estimated value of $58,000, according to a press release from Robert Pitman, U.S. attorney for the Western District of Texas. The indictment charges David Wayne Schroeder, 33, with […]  More »

BBVA Compass: Texas can weather oil dips better than in 1980s

U.S. consumers get a pocketbook boost when oil prices – and gasoline prices – take a dip. What would happen in Texas, though, if crude oil prices crash? More than 900 drilling rigs were working in Texas last week, according to the Baker Hughes Rig Count – about a quarter of all rigs worldwide. Despite […]  More »
(AP Photo/ Louis Lanzano)

Oil falls as investors speculate on OPEC production cut

“There’s an established bearish trend and nothing out there to stand in the way of a further move lower,” Tim Evans, an energy analyst at Citi Futures Perspective.  More »
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