Fuel Fix

(Photo by Eddie Seal for Bloomberg News)

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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(Photo by Eddie Seal for Bloomberg News)
The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.
(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

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BP 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.
Categories: featured, Gulf oil spill

    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
(Bill Montgomery/Houston Chronicle)

Texas rep counts one victory for cheap electricity, one loss for those using less of it

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Texans looking to conserve energy may continue to face monthly penalties on their electricity bills, but low-income residents should keep receiving discounts on their power usage.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

Oil prices rise to 2015 high after a big drop in crude storage

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U.S. crude storage dropped dramatically from last week, contributing to oil prices closing Wednesday at a high for the year.

This photo provided by the Santa Barbara County Fire Department shows an oil slick from a broken pipeline off the central California coast near Santa Barbara on Tuesday.   (Mike Eliason/Santa Barbara County Fire Department via AP)

UPDATED: California oil spill cleanup costs $62 million

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Costs are running at $3 million a day, and there is no timetable for when the cleanup will be complete, Plains All American Pipeline’s on-scene coordinator, Patrick Hodgins, told The Associated Press.
Categories: Accidents, Crude oil
A jar holding waste water from hydraulic fracturing is held up to the light at a recycling site in Midland, Texas. (AP Photo/Pat Sullivan)

What’s in your frac fluid? U.S. doctors want to know

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Under the newly adopted policy, the American Medical Association also supports better government tracking of the chemicals used in oil and gas extraction.
A well is drilled at an Apache Energy site in the Permian Basin in Midland, Texas, Feb. 14, 2012. (Jim Wilson/The New York Times)

XTO Energy asked to show it’s not causing Texas quakes

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Texas officials remain unconvinced about direct links — even as neighboring Oklahoma embraced research showing wastewater wells were likely causing quakes in that state.
A crew cleans oil from the beach at Refugio State Beach on May 20, 2015 north of Goleta, Calif.  (Photo by David McNew/Getty Images)

California officials deny Exxon’s request to truck crude stranded after Plains pipeline breach

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Exxon Mobil estimates it will fill onsite storage at a stranded processing plant in less than one month and need to cease both natural gas and crude production in the area.
Pipelines run toward oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Oklahoma, U.S., on Wednesday, March 25, 2015. (Daniel Acker/Bloomberg)

Crude oil rises to one-month high as U.S. supply seen falling

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U.S. output will decline after reaching the highest level since 1972 in May after drillers cut the number of oil rigs to the lowest level in four years. Production from prolific shale formations will fall next month to the lowest level since January.
Categories: Crude oil, featured, Markets, p2