Oil Field

Upstream news: exploration and production, oil field services
A Canadian Pacific Railway Ltd. train transporting oil leaves Hardisty, Alberta, Canada. (Brett Gundlock/Bloomberg)

Canada Pacific rail and Teamsters agree to arbitration, ending strike

Canadian Pacific Railway and the Teamsters Canada Rail Conference agreed to go into mediated arbitration, ending a strike that began over the weekend, Labor Minister Kellie Leitch said. As a result, Canada’s federal government will no longer be pursuing back-to-work legislation, Leitch said at a press conference in Ottawa on Monday. “The strike is over,” Leitch said. “My expectation is that people return to work quickly.”  More »
Steven L. Newman, president and chief executiver officer of Transocean Ltd., testifies on Capitol Hill about the oil leak in the Gulf of Mexico in Washington, D.C., U.S., on Thursday, May 27, 2010. (Photographer: Brendan Hoffman/Bloomberg News)

Transocean CEO steps down

The CEO of offshore driller Transocean has stepped down effective Monday under a “mutually agreed” decision between him and the board.  More »
(AP Photo/Matthew Brown)

North Dakota daily oil production sets record, but rig count dropping

The state’s Mineral Resources Department estimated December production at slightly more than 38 million barrels, or about 1.23 million barrels per day. That broke the November record of 1.19 million barrels per day.  More »
(Alexander Zemlianichenko Jr./Bloomberg)

Driller: More than 1,000 field hands out of work as rigs decline

Fifty of Precision’s 250 drilling machines, each with crews of 20 to 25 field hands, are no longer running after oil prices have been cut in half since last summer, the firm said in its fourth quarter earnings release Thursday.  More »
(AP Photo/Dado Galdieri, File)

Global oil layoffs exceed 100,000

While much of the focus on layoffs has centered on the U.S., where the shale fields that created the glut have seen the steepest cutbacks, workers in oil-related businesses across the globe are suffering, too  More »
(Ryan Holeywell)

C&J Energy profits triple but CEO sees tough year ahead

The growth, C&J CEO Josh Comstock said in a written statement, came despite falling oil prices. But that could change in the first quarter.  More »
Rail oil tanker cars sit lined up in Corpus Christi, Texas. (Eddie Seal/Bloomberg)

Crude prices fall on increasing U.S. supply

After gaining more than $5 since Jan. 28, oil is still about half its June peak amid a global surplus that Iran’s oil minister estimates at 2 million barrels a day.  More »
(AP file photo/Reed Saxon)

Occidental pledges to $500 million oil exploration project in UAE

Abu Dhabi, the largest emirate in the United Arab Emirates, is seeking to boost oil production capacity to 3.5 million barrels a day by the end of 2017.  More »
Fourth-generation farmer Mike Hopkins, of Palla Farms, poses for photos at his almond orchard Thursday, Jan. 15, 2015, in Bakersfield, Calif. Hopkins says damage from the oil-field injection into the aquifer forced him to pull up his cherry trees in 2013, and has filed suit blaming the oil companies whose fracking wells and other oil and gas installations ring his orchards. (AP Photo/Jae C. Hong)

California pledges changes in protecting underground water

An Associated Press analysis found hundreds of the now-challenged state permits for oil-field injection into protected aquifers have been granted since 2011.  More »
A deep-water drilling rig works in the South China Sea. (AP Photo/Xinhua, Jin Liangkuai)

China finds sizable natural gas field in South China Sea

The Lingshui 17-2 gas field was discovered 150 kilometers south of China’s southernmost island of Hainan, and the Ministry of Land and Resources has approved it as a large-scale find.  More »
Original byline: Jim Blecha/

Citi: Oil could plunge to $20, and this might be ‘the end of OPEC’

Despite global declines in spending that have driven up oil prices in recent weeks, oil production in the U.S. is still rising, wrote Edward Morse, Citigroup’s global head of commodity research.  More »
(AP Photo/Pat Sullivan)

California pledges changes in protecting underground water

State regulators said Monday that they have notified the U.S. Environmental Protection Agency of their plan for bringing the state back into compliance with federal safe-drinking water laws.  More »
(Photo by Eddie Seal for Bloomberg News)

Oil rigs down 83, Baker Hughes says

Rigs searching for crude are now at their lowest level since November of 2011.  More »
(Ryan Holeywell)

Oil on track for biggest two-week gain in 17 years

Oil has rebounded as companies including Statoil ASA, BP Plc and Royal Dutch Shell Plc have reduced investments in response to the market’s collapse.  More »
drill rig

Kansas geologists look for earthquake and fracking correlation

For at the last 15 months, Kansas geologist Rex Buchanan estimates, he’s spent 90 percent of his time studying something once relatively rare in the state – earthquakes.  More »
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