Oil Field

Upstream news: exploration and production, oil field services
A Cabot Oil & Gas Corp. natural gas drilling rig operates in the Marcellus Shale in Pennsylvania. (Cabot Oil)

Cabot’s profits slip 62 percent amid lower oil prices

The Houston-based company said it offset plunging prices by ramping up output in the first quarter.  More »
(Daniel Acker/Bloomberg)

Oil at $65 seen freeing 500,000 barrels from shale fracklog

Producers in oil and gas fields from Texas to Pennsylvania have 4,731 idled wells at their disposal.  More »
Sen. Lisa Murkowski, R-Alaska, speaks during the opening panel discussion of IHS Energy CERAWEEK on Monday, April 20, 2015, in Houston. ( Brett Coomer / Houston Chronicle )

Quotable CERAWeek: Memorable lines from energy industry leaders

The new reality of oil, was the biggest topic, and the executives who took the stage focused on detailing how their companies would survive.  More »
(Eddie Seal/Bloomberg)

Weatherford sees bottom of ‘miserable’ North America results

Weatherford will cut its 2015 capital budget to $850 million from $900 million, it said in the earnings report.  More »
(Dave Schumaker/flickr)

Report: Man-made earthquakes shake over a dozen areas in US

The man-made quakes jolted once stable regions in eight states, including parts of Alabama, Arkansas, Colorado, Kansas, New Mexico, Ohio, Oklahoma and Texas, according to researchers at the U.S. Geological Survey.  More »
Harold Hamm, chairman and chief executive officer of Continental Resources Inc., speaks during the 2015 IHS CERAWeek conference in Houston, Texas, U.S., on Tuesday, April 21, 2015. CERAWeek 2015, in its 34th year, will provide new insights and critically-important dialogue with decision-makers in the oil and gas, electric power, coal, renewables, and nuclear sectors from around the world. (Aaron M. Sprecher/Bloomberg)

CERAWeek: Oil chiefs explain why U.S. shale boom hasn’t gone global

Has billionaire oil man Harold Hamm ever been tempted to take the U.S. shale revolution abroad and expand his oil empire from North Dakota to the rest of the world? “I have not,” Hamm told a gathering of energy executives Tuesday.  More »
(Nabors)

Nabors has laid off thousands in 2015, including more than 40 percent of its drilling unit employees

The firm booked a $123.6 million profit in the first quarter, or 43 cents a share, up from $50 million, or 17 cents a share, in the same period the year before.  More »
(AP Photo/Brennan Linsley)

Study links swarm of quakes in Texas to natural gas drilling

In 84 days from November 2013 to January 2014, the area around Azle, Texas, shook with 27 magnitude 2 or greater earthquakes, while scientists at Southern Methodist University and the U.S. Geological Survey monitored the shaking.  More »
Maria de Lourdes Melgar Palacios, Mexico's undersecretary of hydrocarbons in the Ministry of Energy. (Emily Pickrell/Houston Chronicle)

CERAWeek: Mexico’s bidding rounds continue despite crude collapse

Thirty-four companies had signed on to the first auction organized by the state, said Lourdes Melgar, Mexico’s deputy secretary of energy for hydrocarbons at the Ministry of Energy.  More »
(AP photo/Brennan Linsley)

Encana said to explore sale of Haynesville gas properties

Encana is unloading gas assets to better focus on drilling for oil and liquids such as condensate.  More »
The Ain Amenas gas field in Algeria, where Islamist militants raided and took hostages Wednesday Jan. 16, 2013. (AP Photo/Kjetil Alsvik, Statoil via NTB scanpix, File)

More gas found in Algeria region hit by 2013 hostage-taking

An al-Qaida splinter attacked the nearby Ain Amenas gas plant in January 2013, resulting in the death of 40 plant workers, mostly foreigners.  More »
(Photo by Andrew Burton/Getty Images)

Shale output is falling faster than expected

Just five months after Saudi Arabia put the market into a tailspin by refusing to cut supply despite a global glut, the shale oil industry will record its first monthly dip since 2013.  More »
An Eagle Ford well near Kenedy, Texas. (Eric Gay/AP)

IHS: 1,400 wells drilled but not completed in Eagle Ford Shale

There are nearly 1,400 wells in the Eagle Ford Shale that have been drilled but not completed, according to new analysis from the firm IHS. Oil prices are hovering around $50 per barrel, down by half since last summer. And some Eagle Ford oil producers have been drilling but not fracking wells.  More »
Oil Barrels

Bullish bets on oil increase

e funds boosted net-long positions on West Texas Intermediate crude by 30 percent in the seven days ended April 7, the biggest jump since October 2010, U.S. Commodity Futures Trading Commission data show  More »
(Photographer: Daniel Acker/Bloomberg)

Wages for oil and gas workers are growing the slowest of any industry

Falling oil prices and a slowdown in the energy sector have prompted wage growth in the oil and gas industry — as well as Houston at-large — to come to standstill, according to new data.  More »
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