Fuel Fix

An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)
The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.
(Daniel Acker/Bloomberg)

Wyoming oilmen diversify to survive the bust

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Casper businesses were the hub for Wyoming’s oilfields during the boom years. Today, they are rewriting business plans, reassigning machines for jobs outside the oil patch and experimenting with new product lines.
FILE - In this April 25, 2014, file photo, Bryant Gobble, left, hugs his wife, Sherry Gobble, right, as they look from their yard across an ash pond full of dead trees toward Duke Energy's Buck Steam Station in Dukeville, N.C. Duke says it will provide bottled water to residents living near coal ash pits in North Carolina. So far, more than 150 residential wells tested near Duke's dumps have failed to meet state groundwater standards. (AP Photo/Chuck Burton, File)

Regulator fines Duke Energy nearly $7 million for coal ash spill

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The fine covers violations that Duke Energy admitted when it pleaded guilty to federal pollution crimes nine months ago and agreed to pay $102 million in fines and restitution, the state Department of Environmental Quality said.
Anadarko Petroleum Corporation CEO Al Walker. (Nick de la Torre / Houston Chronicle)

Anadarko Petroleum cuts dividend 81 percent

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The cut will save the company $450 million annually.
(Daniel Acker/Bloomberg)

On Plains All American call, a focus on other companies

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Midstream contracts are usually the last things production companies will let go. But with oil near $30 per barrel, most oil and gas transporters have several producers on the ropes who have or are considering letting those promises lapse.
Categories: Crude oil, Pipelines
The sun sets beyond an oil pumping unit, also known as a "nodding donkey" or pumping jack, at a drilling site operated by Tatneft OAO near Almetyevsk, Russia, on Friday, July 31, 2015. Eleven months of surviving with oil below $100 have left Russia hardened enough to endure a monthlong drop to $40 a barrel, a survey of economists showed. Photographer: Andrey Rudakov/Bloomberg

EIA: Oil to average $38 as stock builds outpace production

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Global oil inventories could keep rising in 2016 and 2017 faster than oil production outside of OPEC can drop.
Categories: Crude oil, Markets
Outside the Diablo Canyon nuclear power plant at Avila Beach, California, U.S., on Friday, March 30, 2012. Photographer: David Paul Morris/Bloomberg

Feds approve new nuclear reactors near Houston

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Two hurdles for the projects could delay NRG’s plans indefinitely, however.
(FILES) This file photo taken on February 5, 2016 shows US President Barack Obama speaks about the economy in the Brady Press Briefing Room at the White House in Washington, DC.
President Barack Obama on February 9, 2016 unveiled a new cybersecurity "national action plan" calling for an overhaul of aging government networks and a high-level commission to boost security awareness. The announcement responds to an epidemic of data breaches and cyber attacks on both government and private networks in recent years, and passage last year of a cybersecurity bill that aims to facilitate better threat sharing.Obama asked for $19 billion for cybersecurity efforts in his budget request, a 35 percent increase from current levels, with $3 billion earmarked to help modernize the patchwork of computer systems used in government agencies.
 / AFP / Saul LOEBSAUL LOEB/AFP/Getty Images

Within budget, Obama seeks $10.25 per barrel oil tax

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President Obama made official Tuesday his plan to seek a tax on the oil industry to fund an overhaul of the country’s transportation network towards reducing carbon emissions. In a proposed $4.1 trillion federal budget, the administration is requesting a $10.25 per barrel tax on oil companies, revenue from which will be shuttled into expanding high-speed […]
Categories: General
Natural gas wellhead

WPX Energy sells off Colorado natural gas assets for $910 million

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The Oklahoma oil producer said Tuesday it is shifting its center of gravity from natural gas-rich Piceance Basin in Colorado to the oil-heavy Permian Basin in West Texas.
Categories: Deals, Markets, Natural gas
CB&I Chairman and CEO Philip K. Asherman, May 23, 2014 in The Woodlands, TX. (Eric Kayne/For the Chronicle)

CB&I focuses on Gulf Coast to ride out oil bust

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Although CB&I operates worldwide, more than 70 percent of its engineering and construction revenues in 2016 will come in the U.S., the company announced Tuesday during an investor day in New York.
(Andrew Burton/Getty Images)

IEA: Oil glut could still grow in second half of 2016

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The 13-member OPEC raised its daily output by 280,000 barrels in January as Saudi Arabia, Iran and Iraq bolstered production.
conoco

Utilities seek ConocoPhillips stake in Cook Inlet gas field

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Anchorage Municipal Light and Power and Chugach Electric Association are looking to buy ConocoPhillips’ stake in the Beluga River Unit about 35 miles west of Anchorage.
Categories: Arctic, Deals, Natural gas

IEA sees crude inventories over 3 billion barrels, OPEC loadings increase

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One hundred and twenty-one years after W.G. Morgan invented volleyball, and from a rally that started with a spike overnight, we are now seeing some digging instead. For once, the IEA has managed to land the first punch, putting out its monthly oil market report before the EIA report (the short term energy outlook is […]
Categories: Crude oil, Eagle Ford, Texas
In this April 24, 2015 photo, pumpjacks work in a field near Lovington, N.M. (AP Photo/Charlie Riedel)

Oil could fall below $20, Goldman analyst says

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With capacity to store oil exhausted in some places, prices may need to drop low enough to halt crude output that can no longer be stockpiled, said Jeff Currie, Goldman’s head of commodities research.
Categories: Crude oil, Markets