Oil Field

Upstream news: exploration and production, oil field services
(AP Photo/Casper Star-Tribune, Robert Hendricks)

Government sells scandalized Teapot Dome oilfield for $45 million

Most of the easily accessible oil in the oilfield 35 miles north of Casper already has been tapped out since drilling resumed in the mid-1970s.  More »
(Jim Gehrz/Minneapolis Star Tribune/MCT)

Oil rig count falls by 94 in biggest drop since 1987

Petroleum producers released 94 oil rigs this week as sub-$50 oil continued to wreak havoc on the oil industry, Baker Hughes reported Friday.  More »
In search of natural gas, Jacob Spraggins with Helmerich & Payne works on a drill in the Piceance Basin on the western slope of the Rocky Mountains, Monday, June 22, 2009, in Rio Blanco County. (Johnny Hanson / Chronicle)

Drilling contractor may cut 2,000 field jobs as rigs idle

Since October, when the active U.S. land rig count had reached its peak, some 400 rigs have been cut loose by the oil producers struggling to make money in the once-lucrative U.S. shale plays.  More »
SHELL STRATEGIC OIL

Trio of oil companies announce $20 billion in spending cuts

“What we’re seeing thus far is a textbook implosion,” said one analyst.  More »
Ryan Lance, chairman and CEO of ConocoPhillips ( Marie D. De Jesús / Houston Chronicle )

ConocoPhillips cuts spending again, reports earnings loss

The company will defer drilling and exploration plans in the U.S. and major project spending in general. It still expects to grow production by 2-3 percent, excluding Libya.  More »
(AP Photo/Williston Herald, Jerry Burnes, File)

Carrizo Oil & Gas to cut spending 35 percent, but produce more

S.P. Johnson, Carrizo’s President and CEO, said that the increase was made possible in part by a decline in service costs and more productive wells.  More »
(shankool007/Flickr)

Obama to seek wilderness designation for Alaska refuge

President Barack Obama is boosting protection of Alaska’s Arctic National Wildlife Refuge and will ask Congress to designate more than 12 million acres as a wilderness area, including its potentially oil-rich Coastal Plain.  More »
In this Dec. 20, 2007 file photo, workers leave their shift as Cubans prepare to inaugurate the Camilo Cienfuegos refinery ahead the IV Petrocaribe Summit in Cienfuegos, Cuba. Fears that falling oil prices could knock the wheels off the already wobbly economy of oil-dependent Venezuela have sparked apparent interest in alternatives to Petrocaribe, a trade program created by the late President Hugo Chavez that has kept the region dependent on the South American country for energy. All the countries of the region, except Cuba, are expected to participate in closed talks that will involve U.S. Vice President Joe Biden and other U.S. officials as well as representatives of the European Union, the U.N., and multi-lateral financing agencies such as the World Bank and Inter-American Development Bank. (AP Photo/Dado Galdieri, File)

US works to ease Caribbean dependence on Venezuelan oil

A decade-long addiction to oil subsidized by Venezuela may be coming to an end for several Caribbean nations, with a nudge from the United States  More »
(Getty Images)

Crude rigs at lowest level in two years after another decline

Drillers were slow to pare back the number of rigs working, but have now idled 258 crude oil rigs since a steady slide began seven weeks ago.  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)

Nearly 3 million gallons of brine spill in North Dakota oil boom’s largest leak

The saltwater, known as brine, is an unwanted byproduct of oil and natural gas production that is much saltier than sea water and may also contain petroleum and residue from hydraulic fracturing operations.  More »
Photographer: Ty Wright/Bloomberg

BHP backing away from U.S. drilling

BHP Billiton Ltd., the biggest overseas investor in U.S. shale, will cut the number of its rigs there by about 40 percent as plunging petroleum prices add to concerns about lower iron ore earnings.  More »
(Image: Fotolia)

Canadian drilling services firm files bankruptcy

A Canadian company that expanded into South Texas in 2012 with a pioneering waterless technique to fracture shale rock has filed for bankruptcy protection as it seeks to reorganize.  More »
(Photographer: Eddie Seal, Bloomberg)

More Texas drillers slashing spending

Several Permian Basin drillers have said that they’re planning smaller budgets for 2015.  More »
(AP Photo/Matthew Brown, File)

BNSF moving more crude oil across eastern Nebraska

BNSF said it is moving about a dozen oil trains through eastern Nebraska each week. That’s up from three trains a week last summer.  More »
Caption


FILE - In this Oct. 24, 2014 file photo, then Alaksa gubernatorial candidate Bill Walker answers a question during a debate in Anchorage, Alaska. Walker, now Governor, has said Alaska this year stands to pay out about $100 million more in oil and gas credits than the production tax brings in. (AP Photo/Mark Thiessen, File)

Alaska faces lean budget times as oil prices plunge

Alaska heavily relies on oil revenue to fund the cost of state government, but the fall in prices has contributed to an estimated 80 percent decline in the state’s share of production taxes from last year.  More »
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