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

(Alexander Klein/AFP/GettyImages)

Oil prices retreat after OPEC reports 810,000-barrel boost in March

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OPEC predicted output from U.S. oil fields would stall out and eventually fall later this year as producers park hundreds of drilling rigs.
A Houthi Shiite fighter stand guard as people search for survivors under the rubble of houses destroyed by Saudi airstrikes near Sanaa Airport, Yemen, Thursday, March 26, 2015. (AP Photo/Hani Mohammed)

Al-Qaida captures oil terminal, airport in south Yemen

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Officials said al-Qaida fighters clashed Thursday with members of one of Yemen’s largest infantry brigades outside Mukalla, a city the militants overran earlier this month.
Categories: Middle East

In this March 31, 2015 photo, a supply vessel crosses an oil sheen drifting from the site of the former Taylor Energy oil rig in the Gulf of Mexico, off the coast of Louisiana. The New Orleans-based company has downplayed the leak's environmental impact, likening it to scores of minor spills and natural seeps that the Gulf routinely absorbs. (AP Photo/Gerald Herbert)

AP: Offshore wells buried during Hurricane Ivan have been leaking oil into the Gulf since 2004

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An Associated Press investigation has revealed evidence that the spill is far worse than what the company behind the leak has publicly reported.
(Andrew Harrer/Bloomberg)

Obama’s climate change plan faces high-profile legal test

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A federal appeals court hears arguments Thursday in two cases challenging the EPA’s far-reaching proposal to cut Earth-warming pollution from the nation’s coal-fired power plants.
(AP file photo/Hasan Jamali)

Saudi Arabia adds half a Bakken to global oil market in a month

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Prices collapsed almost 50 percent last year as Saudi Arabia led OPEC in maintaining production in the face of a global glut.
Categories: Middle East, Production
Rich Kinder, left, chairman and CEO of Kinder Morgan. (Melissa Phillip/Houston Chronicle)

Kinder Morgan CEO says to expect more acquisitions

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Kinder Morgan’s board said it would raise the dividend to 48 cents per share, up 14 percent from the prior year’s Q1 payout of 42 cents per share.
brigham mccown, electric bills

For Texas, Energy Efficiency Presents an Opportunity

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Energy efficiency might not be the first thing to come to mind when using the words “energy” and “Texas” in the same sentence. As Texans, we’re justifiably proud our state’s status as the largest producer of oil, natural gas and wind energy in the nation, and its our electricity costs are below average; and yet […]
(ALEXANDER KLEIN/AFP/Getty Images

OPEC surge ahead of Iran exports could stall oil recovery

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The International Energy Agency says Russia, India and others gobbled more cheap crude last month but oil-exporting states including Saudi Arabia pushed out more crude than in almost two years, a bid to remain kings in the oil market as Iranian exports loom.
(Shane Bevel/Bloomberg News)

Crude prices rising after inventories show a slower gain

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Futures traders bid up the price of U.S. crude after a government report showed a smaller-than-expected gain in inventories.
(Dado Galdieri/Bloomberg)

Shell exec: U.S. risks losing drilling dollars to Brazil, Canada and Mexico

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The Obama administration’s plan for selling offshore oil and gas leases from 2017 to 2022 could jeopardize the United States’ competitiveness as Brazil, Canada, Mexico and other countries aggressively compete for drilling dollars, a Shell executive told Congress.
(Matthew Lloyd/Bloomberg)

Activists occupy BP headquarters ahead of 5-year anniversary of Gulf oil spill

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Protesters carried signs criticizing the company’s response to the 2010 offshore platform explosion and oil spill that killed 11 workers and unleashed hundreds of millions of gallons of oil into the Gulf in 2010.
Categories: Gulf oil spill
Wind turbine blades wait to be shipped out by rail at the Port of Corpus Christi in Corpus Christi, Texas. (Eddie Seal/Bloomberg)

Politics threatening Texas wind energy, advocates say

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Industry-friendly policies helped Texas retain its position last year as the nation’s top wind energy producer, but partisan politics now threaten to ruin that reputation, wind advocates say.
Categories: Wind
ThinkstockPhotos-466611139

REST Act Aims to Streamline Transportation

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Members of Congress recently re-introduced a bipartisan bill aimed at ensuring efficient and expedient cross-border shipments for the trucking industry. The Residue Entries and Streamlining Trade, or REST Act, is aimed at removing an absurd regulatory interpretation by Customs and Border Patrol (CBP). At issue is a seemingly straightforward issue involving U.S. trade. When a […]
Categories: Transportation
U.S. Secretary of State John Kerry waits for the start of a meeting on Iran's nuclear program with officials from Britain, France, Germany, China, the European Union and Iran at the Beau Rivage Palace Hotel in Lausanne, Switzerland Tuesday, March 31, 2015. (AP Photo/Brendan Smialowski, Pool)

Kerry: still confident U.S. can conclude Iran nuclear deal

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Secretary of State John Kerry said the challenge of finishing the negotiations with Iran over the next 2½ months would loom large over the G-7 meeting.
(Photo by Andrew Burton/Getty Images)

Shale output is falling faster than expected

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Just five months after Saudi Arabia put the market into a tailspin by refusing to cut supply despite a global glut, the shale oil industry will record its first monthly dip since 2013.