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Houston

In this April 2010 file photo, oil can be seen in the Gulf of Mexico, more than 50 miles southeast of Venice on Louisiana's tip, as a large plume of smoke rises from fires on BP's Deepwater Horizon offshore oil rig. (AP Photo/Gerald Herbert, File)

Judge: Local governments, including Houston, will get their BP payments soon

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A federal judge said this week BP has until late August to start processing payments totaling $1 billion to the 400 local governments along the Gulf Coast that were part of the British oil major’s $18.7 billion Deepwater Horizon oil spill settlement inked earlier this month.
Halliburton CEO Dave Lesar (Melissa Phillip/Chronicle)

Paychecks rose for some Houston energy CEOs in 2014

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The 10 highest-paid executives in Houston last year all work in the energy industry, despite domestic oil’s long and lingering swoon.
FMC Technologies elaborate booth in the Offshore Technology Conference at the NRG Center Wednesday, May 6, 2015, in Houston, Texas. (Gary Coronado/Houston Chronicle)

FMC Technologies profit cut in half

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FMC’s subsea orders held up much better than its land business, with sales declining 7 percent compared to the first quarter.
A Tenaris Conroe employee lines up a stack of pipes so a Petibone forklift can pick the up to put into another pile waiting to be finished for sale Tuesday, April 13, 2010, in Conroe.  (Nick de la Torre/Chronicle)

TimnkenSteel to lay off 39 Houston workers

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The Canton, Ohio-based company, which manufactures steel bars and pipes, cited a “significant downturn in business” as the reason for the layoffs.
(Ty Wright/Bloomberg)

Houston-based Milagro Oil & Gas seeks bankruptcy protection

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Milagro said in court papers Wednesday it had $1 million to $10 million in assets and $500 million to $1 billion in liabilities and that it couldn’t pay back its debt because its business became unprofitable as crude prices fell.
Over thirty oil drilling rigs are idle in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, as rig counts drop in the Permian Basin, Monday, May 18, 2015. (Courtney Sacco/Odessa American via AP)

Sabine sixth U.S. producer to seek bankruptcy protection this year

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Sabine Oil & Gas Corp. is seeking Chapter 11 bankruptcy protection, making it the sixth and the largest U.S. oil producer yet to file for bankruptcy because of cheap oil prices.
Larry Mitchell uses the new Natural Gas filling station at a Texaco Station at 24985 Katy Freeway,in Katy, Texas Tuesday July 7, 2015. The Katy based CNG 4 America is a  supplier of Natural Gas. (Billy Smith II / Houston Chronicle)

Katy-based CNG company adds another Houston fueling station

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In just a few years of rapid growth, the Houston area now counts more than a dozen CNG stations from Rosenberg up to Conroe, including one by Apache Corp. in the Galleria area.
A contractor with Michels Corp. carries pieces of wood used to prop up sections of pipeline as they are assembled during construction of the Flanagan South crude oil pipeline outside Goodfield, Illinois, U.S., on Tuesday, Oct. 8, 2013. The approximately 600-mile, 36-inch crude oil pipeline is being constructed by Enbridge Energy Co., Inc., a subsidiary of Enbridge Inc., CanadaÕs largest oil transporter, and will originate in Flanagan, Illinois and terminate in Cushing, Oklahoma. (Daniel Acker/Bloomberg)

Enbridge will shift Canadian pipelines, wind projects in $15.2 billion restructuring

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Calgary, Alberta-based Enbridge will move its Canadian liquids pipeline business and four wind projects into its affiliated Enbridge Income Fund. In exchange, the income fund will pay its parent companies C$18.7 billion ($15.2 billion) and take on C$11.7 billion ($9.53 billion) in debt.
Amedeo Marcotulli is the new Xodus Subsea general manager in Houston. (Xodus)

Xodus Subsea adds new Houston leadership, but slows growth plans

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Xodus Subsea launched in October as a global energy engineering firm with plans to quickly establish a North American headquarters in Houston and grow.

But then the collapse in oil prices sped up. Fast forward a few months and London-based Xodus Subsea has a new Houston leadership team in place, although the growth plans have slowed along with the overall energy market.

(AP Photo/Lisa Poole, File)

Fortune 500: Oil prices take slight toll on rankings for Houston companies

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Some Houston-based oil and gas companies saw their rankings slip this year after months of low commodities prices hammered the industry.