Fuel Fix

A jackup rig works on an Energy XXI project in the Main Pass complex of the Gulf of Mexico, located in about 100 feet of water near the mouth of the Mississippi River. (Martin L Vargas / Energy XXI)

Offshore auction tests industry’s appetite amid slumping prices

Just 35 companies are participating in the government auction of Gulf of Mexico drilling rights — down from 50 a year ago and 56 in a similar March 2013 auction — suggesting that lower oil prices may be dampening enthusiasm for the offshore acreage.  More »
At the Motiva Port Arthur refinery on Saturday, Feb. 21, 2015.  (Mike Tobias/The Enterprise)

Striking Motiva workers approve contract

Employees could go back to work as soon as Monday, said Garrett Ozment, a union representative and machinist at the refinery, which is the nation’s largest.  More »
(AP Photo/Hasan Jamali)

Quicksilver Resources seeks bankruptcy

Quicksilver, which had around 340 employees in February 2014, has asked the federal bankruptcy court for approval to continue its business as normal and to keep paying employee wages and salaries and providing benefits.  More »
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Refiners group wants broader approach to crude-by-rail safety

Proposed tank car standards don’t address the root cause of oil train derailments, said Charles Drevna, head of the American Fuel and Petrochemical Manufacturers.  More »
FRACKING WELL 01 JL

Carbo Ceramics cuts jobs, dividend as oil plunges

The Houston firm, which makes ceramic proppant used in hydraulic fracturing, didn’t say how many jobs would be cut.  More »
(AP photo/Brennan Linsley)

New fracking rules coming in ‘days’

The mandates are aimed at boosting the integrity of wells on public lands to ensure oil, gas and other fluids are contained within them and ensuring recovered water and other fluids are safely stored at the sites.  More »
In this Thursday, Sept. 11, 2014 photo, workers lay cables on a new oil rig under construction for China National Offshore Oil Corp. (CNOOC) in a shipyard in Qingdao in east China's Shandong province. The Chinese exploration rig at the center of a tense maritime standoff with Vietnam earlier this year has made its first deep sea gas discovery in the politically volatile South China Sea, state media announced Tuesday, Sept. 16. The discovery by CNOOC was made about a month after its rig withdrew in July from Vietnam's exclusive economic zone to far less-contested waters closer to China. (AP Photo) CHINA OUT

Oil producer Nexen cuts workforce by 400

Nexen is a wholly-owned subsidiary of CNOOC Limited, one of China’s major national oil companies.  More »
(AP Photo/Hasan Jamali)

Dragon Oil gets buyout approach from Emirates National Oil

Emirates National has been seeking new oil supplies. Dragon produced an average of 78,790 barrels of oil a day last year with sales of $1.09 billion.  More »
July 16, 2013,  workers at the crash site of the train derailment and fire in Lac-Megantic, Quebec. The July 6, 2013 derailment left 47 people dead.  (AP Photo/Ryan Remiorz, Pool)

Canada safety board says tank car standards needed sooner

A new standard was enacted in Canada after a fiery derailment in July, 2013 in the center of Lac-Megantic, Quebec, killed 47 people, but oil trains meeting the new standard continue to derail and catch fire throughout North America.  More »
Photographer: Eddie Seal/Bloomberg

Feds: Market forces pushing offshore rig counts down

The government’s top offshore energy overseers on Tuesday defended the Obama administration’s approach to oil and gas drilling along the nation’s coastlines, insisting that market forces — not federal regulations — were discouraging the activity.  More »
North Carolina Gov. Pat McCrory signed the state's new hydraulic fracturing rules into law Monday night. (AP Photo/The Fayetteville Observer, Andrew Craft, File)

Fracking law opens North Carolina to drilling

The set of 120 rules that govern issues including well construction, water testing and buffer zones was developed by the state Mining and Energy Commission over nearly two years and approved in December by a separate state panel.  More »
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Moody’s: North American oil companies cut capital spending 41 percent in 2015

North American exploration and production companies have collectively cut their capital budgets this year by 41 percent, according to a new analysis published Tuesday by Moody’s Investors Service.  More »
Ryan Lance, chairman and CEO of ConocoPhillips, addresses the audience during the Geopolitics of Natural Gas at Rice University, Friday, Feb. 21, 2014, in Houston. (Marie D. De Jesús/Houston Chronicle)

ConocoPhillps slashes spending plans for coming years

The largest independent producer of oil and gas had been signalling plans to spend an average of $16 billion per year, but earlier this year, the company whittled its 2015 capital expenditure budget by $2 billion to $11.5 billion.  More »
President Barack Obama and Interior Secretary Sally Jewell speaks at the White House. (AP Photo/Susan Walsh)

Jewell outlines administration’s plans for energy on public lands

Public lands should play a role in both energy development and environmental protection, Interior Secretary Sally Jewell said Tuesday.  More »
Photographer: Daniel Acker/Bloomberg

Oil production falling in three big shale plays, EIA says

Crude production at three major U.S. shale oil fields is projected to fall this month for the first time in six years, the U.S. Energy Information Administration said Tuesday.  More »
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