Fuel Fix

Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)

A single oil rig was shut down last week, extending six month decline

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As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.

A single oil rig was shut down last week, extending six month decline

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Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)
As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.
Original byline: Jim Blecha/

Vanguard Natural Resources scoops up smaller Houston rival for $474 million

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The most recent deal comes on the heels of Vanguard’s announcement in April that it will acquire LRR Energy LP for more than $250 million.
Categories: Crude oil, Deals, featured, Shale

(Melissa Phillip/Houston Chronicle )

Kinder Morgan looks to expand natural gas route to Mexico

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If shippers sign on, Kinder Morgan would likely turn dirt on the $38 million upgrade with a completion date of mid-2017.
Categories: Natural gas
Sen. Lisa Murkowski, R-Alaska, speaks during the opening panel discussion of IHS Energy CERAWEEK on Monday, April 20, 2015, in Houston. ( Brett Coomer / Houston Chronicle )

Quotable CERAWeek: Memorable lines from energy industry leaders

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The new reality of oil, was the biggest topic, and the executives who took the stage focused on detailing how their companies would survive.
Categories: CERAWeek, Crude oil, featured

Gina McCarthy Administrator of the US Environmental Protection Agency speaks during the keynote luncheon during IHS Energy CERAWeek Thursday April 23, 2015 at the Hilton Americas-Houston. (Billy Smith II / Houston Chronicle)

CERAWeek: Transition away from coal power is “inevitable,” EPA boss says

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McCarthy’s pledge comes amid anxiety over the Obama administration’s push to sharply reduce carbon dioxide emissions from the power sector while rapidly expanding the use of cleaner-burning natural gas, wind and solar.
Categories: CERAWeek, Coal, Electricity
(Eddie Seal/Bloomberg)

Weatherford sees bottom of ‘miserable’ North America results

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Weatherford will cut its 2015 capital budget to $850 million from $900 million, it said in the earnings report.
Business deal finalized, congratulations!

BP sells UK natural gas midstream assets

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BP will raise $486 million selling its stake in a natural-gas transportation system in the U.K. North Sea.
Gregory Boyce, chief executive officer of Peabody Energy Corp. (F. Carter Smith/Bloomberg News file photo)

CERAWeek: Clean power plant rule offers significant pain with ‘negligible environmental benefit,’ coal producer says

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Coal-fired power plants wouldn’t be the only beneficiary of carbon capture and storage technology, Peabody Energy CEO Greg Boyce said, stressing that in a carbon-constrained world, natural gas plants will need the tech too.
(Dave Schumaker/flickr)

Report: Man-made earthquakes shake over a dozen areas in US

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The man-made quakes jolted once stable regions in eight states, including parts of Alabama, Arkansas, Colorado, Kansas, New Mexico, Ohio, Oklahoma and Texas, according to researchers at the U.S. Geological Survey.
From left: Thad Hill, CEO of Calpine Corp., Leo Denault, CEO and Chairman of Entergy Corp. and Pat Vincent-Collawn, President and CEO of PNM resources. (Billy Smith II/Houston Chronicle)

CERAWeek: Cheap fuel, solid economy will give Texas a break from rising rates

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Texas’ rate hikes will be eased thanks to economic growth that has boosted power demand in the state and along the Gulf Coast.
A panel of Texas electricity officials discusses the state's shift away from coal-fired power plants on the fourth day of IHS Energy's weeklong CERAWeek conference.

CERAWeek: Texas moving away from coal without federal mandates

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More Texas homes will be powered by cleaner-burning natural gas with or without stringent new federal regulations to cut carbon pollution from power plants, a panel of Texas regulators and electricity company chiefs said Thursday.
Categories: CERAWeek, Coal, Electricity
Ernest Moniz Sec. of Energy United States during the IHS Energy CERAWeek Wednesday April 22, 2015 at the Hilton Americas-Houston. (Billy Smith II / Houston Chronicle)

CERAWeek: Energy chief sees no ‘compelling’ case for oil exports yet

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The oil industry hasn’t made “an overly compelling argument” for crude exports, Energy Secretary Ernest Moniz said Thursday.
(AP Photo/Charlie Riedel, File)

CERAWeek: EPA should expect litigation deluge over carbon emissions rules

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In the next few months, the EPA is expected to release a final set of rules for forcing the electricity sector to reduce emissions of carbon dioxide 30 percent from 2005 levels by 2030.
Categories: CERAWeek, Electricity
Exxon Mobil Corp. CEO Rex Tillerson speaks to 2015 IHS Energy CERAWeek. (Billy Smith II/Houston Chronicle)

CERAWeek Commentary: American oil CEOs avoid climate change talk, while Euro counterparts take it head on

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No fewer than three U.S. oil executives attending IHS Energy CERAWeek have said government regulations need to be based on science, not public sentiment. Yet not one of them talked about the scientific consensus acknowledging global climate change.
(Billy Smith II / Houston Chronicle)

CERAWeek: Mexico’s power markets draw on past privatizations

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Regulators at one point had made a chart tracking the origins of the many different elements of Mexico’s regulatory scheme.
CERAweek attendees between sessions during the IHS Energy CERAWeek Wednesday April 22, 2015 at the Hilton Americas-Houston. (Billy Smith II / Houston Chronicle)

CERAWeek: Freeport CEO says U.S. is only in the “fourth inning” of natural gas development

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The flood of natural gas unleashed by the shale boom is shaping the North American economy in wide-reaching and disparate ways, a panel of top gas industry executives said Wednesday.
Categories: Natural gas
Energy Secretary Ernest Moniz tours the headquarters of PECO energy company in Philadelphia, Tuesday, April 21, 2015. The White House has released a four-year energy plan, Quadrennial Energy Review, designed to fight climate change, modernize power plants and find other ways to ensure the nation a steady supply of safe energy. (AP Photo/Matt Rourke)

CERAWeek: Ernest Moniz envisions more energy-swapping between North American powers

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Broadening the transfer of energy and power resources across North American borders could yield big benefits for the United States, Canada and Mexico.
Categories: CERAWeek