Fuel Fix

(Jordan Blum/Houston Chronicle)

Getting a glimpse of Exxon Mobil’s new campus

on
The complex resembles a modern college campus with plenty of landscaping, about 20 buildings, three large parking garages, a wellness center and more.

Getting a glimpse of Exxon Mobil’s new campus

on
(Jordan Blum/Houston Chronicle)
The complex resembles a modern college campus with plenty of landscaping, about 20 buildings, three large parking garages, a wellness center and more.
The shadows of  workers in the Permian Basin on February 5, 2015 in Mentone, Texas. (Photo by Spencer Platt/Getty Images)

Oil industry needs half a trillion dollars to endure price slump

on
If oil stays at about $40 a barrel, the shakeout could be profound.

Stabilizing markets overnight give way to a midweek crude move higher

on
After last week’s EIA inventory report yielded a lower refining/higher imports-sponsored build to crude stocks, last night’s 7.3 million barrel drop from the API report is indicating we should see a fairly hefty draw from the EIA this morning. After last night’s last-minute sell-off in US equities, risk appetite has picked itself up again and […]
Categories: Gasoline
Oil rose to $39.31 a barrel in New York Mercantile Exchange trading Tuesday, but remains at six-year lows. (Stephen Hilger/Bloomberg News)

Oil prices move higher, market mood stays low

on
Domestic benchmark crude rose $1.07 to $39.31, but prices remain in territory not seen in six and a half years.
Categories: Crude oil, General
Cobalt International Energy used the Petroserv SSV Catarina Rig to drill the Lontra #1 discovery well off the coast of Angola.  (Cobalt International Energy)

Cobalt’s CFO resigns

on
Cobalt International Energy, after the close of the market Tuesday, announced its chief financial officer is leaving “to pursue other interests.”
Categories: Finance/Earnings
(Simon Dawson/Bloomberg)

Transocean will cancel dividend

on
The most severe oil-industry collapse since the 1980s has prompted explorers to curtail drilling budgets, cancel rig contracts and shelve plans to search for untapped crude fields from the Indian Ocean to the Gulf of Mexico.
Categories: Crude oil, Offshore
Harold Hamm, chairman and chief executive officer of Continental Resources Inc., speaks during the 2015 IHS CERAWeek conference in Houston, Texas, U.S., on Tuesday, April 21, 2015. CERAWeek 2015, in its 34th year, will provide new insights and critically-important dialogue with decision-makers in the oil and gas, electric power, coal, renewables, and nuclear sectors from around the world. (Aaron M. Sprecher/Bloomberg)

Oil export ads launched as Congress nears vote on foreign crude sales

on
Oil export fans and foes are taking to the airwaves for the first time with advertisements addressing the issue, ahead of key votes on Capitol Hill.
Leonardo Mendoza, of Key Energy Services, guilds a drill pipe from a well at an EnerVest oil field Tuesday, May 10, 2011, in rural Fayette County. ( Brett Coomer / Houston Chronicle )

Key Energy splits CEO and chairman jobs, names successors for both positions

on
The Houston-based, oil-field services company said Chairman and CEO Dick Alario is giving up the top board seat immediately and retiring next year. President and Chief Operating Officer Robert Drummond, who just joined the company in June, will assume the CEO role no later than the end of 2016. Independent board member Mark Rosenberg, whose background is in private equity firms, is the new chairman.
(AP photo/Brennan Linsley)

Encana sends Louisiana shale assets to private venture in $850 million deal

on
Encana Corp. said Tuesday it will sell $850 million of Louisiana shale play acreage to a partnership between a closely held Woodlands oil and gas driller and a private equity firm.