Fuel Fix

A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Cameron sells offshore jack-up rig business for $100 million

on
Categories: Deals, featured, Offshore
Cameron International Corp. has agreed to sell off its offshore jackup rig business for $100 million to a Singapore rig contractor, the companies announced Monday.

Cameron sells offshore jack-up rig business for $100 million

on
Categories: Deals, featured, Offshore
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)
Cameron International Corp. has agreed to sell off its offshore jackup rig business for $100 million to a Singapore rig contractor, the companies announced Monday.
(ALEXANDER KLEIN/AFP/Getty Images

Oil surges as OPEC signals it’s open to “fair and reasonable” prices

on
U.S. crude prices shot up nearly $4 a barrel after OPEC said in a monthly publication it is ready to speak to other oil producers to achieve “fair and reasonable” prices.
Categories: Crude oil, featured, Markets

Commercial vessels spray water on the fire aboard the West Delta 32 production platform. (Coast Guard photo)

Houston’s Black Elk Energy facing criminal charges for fatal Gulf explosion

on
Houston-based Black Elk Energy faces six criminal counts for a blast at a Gulf of Mexico production platform that killed three workers and injured others.
Global consulting firm Accenture announced plans to buy Schlumberger's management consulting division.

Accenture to buy Schlumberger’s consulting business

on
Houston-based consultant Accenture plans to buy up Schlumberger’s management consulting business for an undisclosed sum, sharpening Accenture’s ability to help navigate oil and gas companies through the downturn.
Categories: Bankruptcy, Deals, featured
(Photographer: Ty Wright/Bloomberg)

Texas gasoline prices drop as Midwest sees a price spike

on
Average retail gasoline prices in Houston fell 3.1 cents per gallon in the past week, averaging $2.38 per gallon on Sunday, according to GasBuddy’s daily survey of 2,559 gas outlets in Houston.
David Green, software architect, is shown at Baker Hughes, 11211 FM 2920 Road, Thursday, Aug. 6, 2015, in Tomball. ( Melissa Phillip  / Houston Chronicle )

Service companies see re-fracking as new opportunity

on
Re-fracking can be up to two-thirds cheaper than drilling a new well, which is an alluring possibility for cash-strapped U.S. producers who are straining to keep operational costs down and drilling operations intact.
(AP Photo/ Louis Lanzano)

NYSE warns Willbros Group of potential de-listing

on
The New York Stock Exchange has warned oil engineering firm Willbros Group its stock could be de-listed unless it trades at an average $1 a share over a 30-day period.
(Jerry Lara/San Antonio Express-News)

Oil falls near 6-year low as U.S., OPEC keep pumping

on
Oil has slumped more than 30 percent from this year’s peak in June on speculation the global surplus will be prolonged.
Categories: Crude oil, featured
An Iranian man walks past a mural displaying the Iranian map adorned in the colours of the country's national flag, on June 29, 2015 in Tehran. Despite agreeing the outlines of a nuclear agreement on April 2, the final talks between Iran and six powers led by the United States on turning it into a binding accord have hit difficulties on reaching a deal which would lift sanctions, paving the way for foreign investment to flow back, in exchange for curbs on Iran's nuclear activities. AFP PHOTO/BEHROUZ MEHRIBEHROUZ MEHRI/AFP/Getty Images

With Iran back, OPEC may boost output to another record

on
The global oil market is already in surplus by about 3 million barrels a day, with Saudi Arabia and Iraq responsible for OPEC’s oversupply in the past six months,
Categories: Crude oil, Middle East