Fuel Fix

(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

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Categories: featured, Gulf oil spill
P has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.

BP to settle Deepwater Horizon claims for $18.7 billion

on
Categories: featured, Gulf oil spill
(AP Photo/Gerald Herbert, File)
P has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

Shale drillers’ safety net is vanishing

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SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
Categories: featured, Shale

President of Denton Drilling Awareness, Cathy McMullen, right, holds up a sign asking voters to vote in favor of banning fracking at the Denton Civic Center in Denton, Thursday, Oct. 30, 2014. (Special to the Houston Chronicle/Brandon Wade)

Denton city council repeals voter-approved ban on fracking

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Voters in Denton approved the ban last November amid concerns that the process could damage the environment and causes earthquakes. The Texas General Land Office and the Texas Oil and Gas Association sued to block the ban.
Workers remove the drill pipe on the drilling floor of Development Driller III, which drilled the relief well and pumped the cement to seal the Macondo well, the source of the Deepwater Horizon rig explosion and oil spill, in the Gulf Of Mexico, off the coast of Louisiana, Saturday, Sept. 18, 2010. (AP Photo/Gerald Herbert)

Energen taps capital markets for $405 million to boost drilling

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Energen’s public offering of 5.7 million shares makes it the 30th North American oil company to raise funds from the public equity markets in 2015, bringing the oil-exploration sector’s take to about $13.7 billion so far this year.
Categories: Crude oil, Deals, Markets, Shale

(ALEXANDER KLEIN/AFP/Getty Images

OPEC revenues slump below $1 trillion for first time since 2010

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he revenue drop shows the strain on the group’s members as they increase pumping at a time of oversupply, following a Saudi Arabia-led strategy of defending market share instead of prices.
(AP file photo)

Judge demands explanation for three-decade delay on energy lease

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A frustrated U.S. District Judge Richard Leon called the delay “troubling” and a “nightmare” during a recent court hearing.
(AP Photo/Gregory Bull)

Gas-guzzling U.S. drivers shock even analysts as refiners profit

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The thirst for fuel in the U.S. and abroad has been greater than analysts, including the EIA and Energy Aspects Ltd., estimated.
Categories: Gasoline
The Polar Pioneer, a drilling rig contracted by Shell for Chukchi Sea exploration in 2015, is transported across the Pacific on the heavy-lift vessel Blue Marlin. (Photo: Vincenzo Floramo / Greenpeace)

No “showstoppers” yet for Shell’s Arctic drilling plans

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An emergency containment system was being tested in waters near Washington state on Tuesday, while those drilling permit reviews are under way.
A drilling rig in Pennsylvania. (AP Photo/Alex Brandon)

Pennsylvania wants record fine against Texas drilling firm

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A state department says methane was detected in private water supplies and a stream following drilling and hydraulic fracturing at a Lycoming County site in 2011. It cited the company in 2013 and again in May for failing to repair the well and devise a remediation plan.