Fuel Fix

A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)

Paragon Offshore reaches creditor deal for bankruptcy filing

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Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.
( Johnny Hanson / Chronicle )

Rig count tumbles again

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Categories: Crude oil, featured

Paragon Offshore reaches creditor deal for bankruptcy filing

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A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)
Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.
( Johnny Hanson / Chronicle )

Rig count tumbles again

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The total rig count, which when including natural gas rig fell by 30, now stands at 541.
Categories: Crude oil, featured
(Brandon Pollock/The Courier via AP)

Cheap fuel, warm weather lower heating bills

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Nationally, this year’s winter weather is expected to be about 15 percent warmer than a relatively warm winter in 2014-15.
Categories: Consumers, Natural gas
(AP Photo/Stephan Savoia)

Houston gasoline approaching another low

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Many gasoline stations across the Houston metro area are selling regular gasoline for less than $1.50 a gallon, according to gasoline price website GasBuddy.com.
Categories: featured, Gasoline
Todd Halihan, a hydrogeology professor at Oklahoma State University, answers questions during an earthquake forum at the Capitol hosted by Rep. Richard Morrissette, D-Oklahoma City. Friday, Jan. 15, 2016, in Oklahoma City, Okla.  (Chris Landsberger/The Oklahoman via AP) LOCAL STATIONS OUT (KFOR, KOCO, KWTV, KOKH, KAUT OUT); LOCAL WEBSITES OUT; LOCAL PRINT OUT (EDMOND SUN OUT, OKLAHOMA GAZETTE OUT) TABLOIDS OUT; MANDATORY CREDIT

More quakes rattle Oklahoma, but state avoids tough measures

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The quakes, which have been mostly small to medium sized, have caused limited damage, and no one foresees anything like the massive damage and deaths in the famous quakes in California, seismologists say.

OPEC sees stronger declines in North American oil production this year

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To celebrate the birth of AA Milne (some 134 years ago), today is national Winnie the Pooh day. Once again, though, the crude complex has gone off script…acting like Eeyore instead. Hence crude prices are once again looking downbeat and depressed, wallowing in twenty-dollardom. In all fairness, it has good reason to be looking down. […]
Categories: Crude oil, General
Iranian men take a selfie with a poster of Sheikh Nimr al-Nimr, a prominent opposition Saudi Shiite cleric, who was executed last week by Saudi Arabia, at the conclusion of a rally protesting his execution, in Tehran, Iran, Monday, Jan. 4, 2016. Allies of Saudi Arabia followed the kingdom's lead and began scaling back diplomatic ties to Iran on Monday after the ransacking of Saudi diplomatic missions in the Islamic Republic, violence sparked by the Saudi execution of al-Nimr. (AP Photo/Vahid Salemi)

Iran to boost oil output by 500,000 barrels

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The U.N. nuclear agency certified Saturday that Iran has met all of its commitments under last summer’s agreement, prompting the lifting of sanctions.
Categories: Crude oil, Middle East
lgbt energy 4

For LGBT workers in energy, some find it’s still not easy coming out

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Something didn’t seem quite right during John Gaspari’s first day on the job at an oil field services firm in Houston. He said his department manager avoided eye contact and stared awkwardly at Gaspari’s small loop earrings.
Categories: Workforce
(Brent Lewin/Bloomberg)

Suncor to buy Canadian Oil Sands after increased bid

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Suncor, the country’s largest oil producer, raised it’s offer to 0.28 of its shares for every Canadian Oil Sands stock, according to a statement on Monday.
Categories: Deals
dollar falling graph

Brent oil falls on Iran oil expectations

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Iran will probably start increasing exports by selling barrels it stockpiled on tankers in the Persian Gulf in anticipation of the deal.
Phillips 66 Sweeny refinery.  (Ryan Holeywell/Houston Chronicle)

Buffett’s firm buys another 1.6 million Phillips 66 shares

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Berkshire filed documents with the Securities and Exchange Commission on Friday that disclosed purchases of another 1.6 million Phillips 66 shares.
FILE - In this Dec. 22, 2014 file photo, an Iranian oil worker rides his bicycle at the Tehran's oil refinery south of the capital Tehran, Iran. Oil prices that slumped steeply earlier this year may take another hit once a historic deal between the West and Iran allows that country to start pouring more crude into a market already brimming with supply. (AP Photo/Vahid Salemi, File)

West lifts sanctions against Iran, crude exports expected soon

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The United States and other western powers lifted international sanctions against Iran on Saturday, after the Islamic Republic passed a final test by inspectors showing it has scrapped the bulk of its nuclear capacity.
A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)

Paragon Offshore will miss $15.4 million interest payment

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Paragon will now have a 30-day grace period to either come up with the needed $15.4 million or to work out a deal with its creditors.

Iran, China, economic data & equity crash push crude into roaring $20s

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Happy Friday! (unfortunately, the crude complex didn’t get the memo). Forty-two years after Happy Days first aired on TV, it has distinctly not been a happy day for crude. Chinese economic concerns have conspired to clobber global equity markets, and crude has spiraled further into the doldrums – now into the realm of twenty dollardom. […]
Categories: Crude oil