Fuel Fix

Ryan Lance, ConocoPhillips CEO, speaks during the opening panel discussion of the 2015 IHS Energy CERAWEEK. (Brett Coomer/Houston Chronicle)

ConocoPhillips to cut 10 percent of global workforce

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ConocoPhillips said Tuesday it is planning to cut roughly 1,800 employees, or 10 percent of its global workforce, in the next several weeks as it deals with low oil prices.

ConocoPhillips to cut 10 percent of global workforce

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Ryan Lance, ConocoPhillips CEO, speaks during the opening panel discussion of the 2015 IHS Energy CERAWEEK. (Brett Coomer/Houston Chronicle)
ConocoPhillips said Tuesday it is planning to cut roughly 1,800 employees, or 10 percent of its global workforce, in the next several weeks as it deals with low oil prices.
permian basin

W&T Offshore to sell Permian assets for $376 million

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W&T Offshore has agreed to sell its stake in a West Texas oil field to a private equity start-up company for $376 million, the latest oil deal geared toward supporting a seller’s financial books amid cheap oil prices.
Categories: Crude oil, Deals, featured, Texas
An oil well owned an operated by Apache Corporation in the Permian Basin are viewed on February 5, 2015 in Garden City, Texas. (Photo by Spencer Platt/Getty Images)

Samson Resources in restructuring plan, to file for bankruptcy

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Samson Resources has made a deal with a group of creditors to restructure its balance sheet as part of a plan that involves seeking Chapter 11 bankruptcy protection next month, the company said late Friday.
Categories: Bankruptcy, Crude oil, Deals
Fortresss-Hand-Truck-Wash

Fortress Environmental expands in the Eagle Ford while oil prices are low

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Fortress just opened its first “one-stop shop,” $12 million facility for saltwater disposal from hydraulic fracturing off of Interstate 10 between Houston and San Antonio.
A Noble Energy rig off the south coast of Cyprus in the Mediterranean Sea. (AP Photo/Cyprus Press and Information Office, File)

Fitch: More offshore drillers could seek bankruptcy after Hercules

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Hercules Offshore may not be the last cash-strapped offshore driller to file for chapter 11 bankruptcy protection, as energy companies struggle to cope financially with one of the worst downturns in recent decades, Fitch Ratings said Friday.
Foundation jackets and a deck are seen on a barge near a construction crane before their installation on Deepwater Wind, the nation's first offshore wind farm, Monday, July 27, 2015, on the waters of the Atlantic Ocean Off Block Island, R.I. Deepwater Wind will consist of five turbines producing a total of 30 megawatts of electricity. (AP Photo/Stephan Savoia)

U.S. lags Europe on offshore wind efforts

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Rhode Island-based Deepwater Wind reached its first “steel in the water” milestone in the early construction phase of its Block Island Wind Farm at the end of July, and the company has some other projects planned offshore of the Atlantic coast.
An oil tanker, right, cruises past a new liquefied natural gas tanker at the Cheniere terminal in Cameron Parish, La. (Michael Stravato/The New York Times)

Obama administration OKs oil exports to Mexico

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The approvals — which involve exchanges of U.S. oil for a similar amount of Mexican crude — did not require any change in U.S. law. The administration also denied applications to exchange U.S. crude for oil and petroleum products from other nations.
Categories: Politics/Policy
(AP Photo/The Times, Kyle Telechan)

Refiners running full throttle could lead to a heavier fall maintenance season

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As plants operate at record-high capacities to soak up cheap crude and satisfy a growing demand for gasoline, a spate of refinery shutdowns have cropped up across the United States, including a recent shutdown of the BP Whiting plant, the largest refinery in the Midwest.
Categories: featured, Refining
EOG chief: Expect U.S. oil production declines

Oil bounces off lows Friday

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West Texas Intermediate futures gained 27 cents to $42.50 per barrel in New York Mercantile Exchange trading Friday.
Categories: General