Fuel Fix

An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.

Pioneer Natural slashes budget, halts drilling amid oil-price crash

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An oil & gas drilling rig is drilling a well for Pioneer Natural Resources in the Eagle Ford Shale formation near Yorktown. (Eddie Seal/Texas Tribune)
The Texas shale explorer scrapped plans to increase outlays for drilling announced early last month, and instead will reduce spending about 9 percent from last year.
(Daniel Acker/Bloomberg)

Wyoming oilmen diversify to survive the bust

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Casper businesses were the hub for Wyoming’s oilfields during the boom years. Today, they are rewriting business plans, reassigning machines for jobs outside the oil patch and experimenting with new product lines.
Chevron's massive deep water offshore platform heads to the Gulf of Mexico. The project was slated to start production this year, but that's been delayed after several subsea installation tendons sustained damage. (Chevron)

Qatar acquires stake in Chevron oil project off Morocco

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Under the terms of the deal announced Monday, Chevron will hold onto a 45-percent interest in the offshore leases, while Morocco will retain a 25 percent stake.
Categories: Deals, Offshore
Employees at National Oilwell Varco,  6390 N. Eldridge Parkway, work on a lower blowout preventer stack, shown left, and lower marine riser package, shown right, Thursday, April 18, 2013, in Houston. ( Melissa Phillip / Houston Chronicle )

GE oil deal offers new model to prevent BP-like crude spills

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The agreement represents a new business model for the industry, providing a steady income stream for GE, and decreased risk for the driller, the companies said in a joint statement Monday.
Categories: Deals, Offshore
In search of natural gas, Jacob Spraggins with Helmerich & Payne works on a drill in the Piceance Basin on the western slope of the Rocky Mountains, Monday, June 22, 2009, in Rio Blanco County. (Johnny Hanson / Chronicle)

Cash-strapped drillers face deeper financial problems amid cuts

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Domestic oil explorers with high levels of debt will struggle the most this year if they’re forced to cut spending and give up cash from new oil production.
Jack Gerard, president and CEO of the American Petroleum Institute, in Houston on June 18, 2013. (Brett Coomer/Houston Chronicle)

API president attacks Obama’s oil tax as “extremist agenda”

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Gerard expressed astonishment at the president’s proposal Monday, saying his group was only notified of the tax as the administration was “getting ready to roll it out.”
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)

Many chemicals used in Texas fracking remain a mystery

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For the past five years, biochemist Zac Hildenbrand has investigated potential links between unconventional drilling and water quality, collecting thousands of samples throughout the major shale plays in Texas.
A Chesapeake Energy storage tank near Dilley, Texas. (Pat Sullivan/AP)

Chesapeake Energy rebounds after denying bankruptcy plans

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The Oklahoma City oil and gas producer has some $11.6 billion in debt and a $500 million note due next month, according to regulatory filings.
Genesis Energy operates this crude oil pipeline in Texas City. (J. Patric Schneider/For the Chronicle)

Energy Transfer shares fall after CFO swap

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The Dallas-based pipeline company said Thomas Long would succeed Jamie Welch as CFO.

Iran makes deals with Europe, selling crude in euros

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On the 84th birthday of John Williams, the crude complex is looking anything but composed. There are lots of reasons for cheer today – Chinese Lunar New Year (hark, year of the monkey), the Rio Carnival, to name two – but price action in financial markets is not one of them. As dollar strength returns […]
(AP Photo/Mary Altaffer)

World’s largest energy trader sees a decade of low oil prices

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The forecast would mean oil-rich countries and the energy industry would face the longest stretch of low prices since the 1986-1999 period.
Categories: Crude oil
Motorists refuel at a Mobil gas station in Pittsfield, Mass., where regular gasoline is for sale at $1.99 per gallon, Tuesday Sept. 29, 2015. (Ben Garver/The Berkshire Eagle via AP) BERKSHIRE COURIER OUT, GREAT BARRINGTON RECORD OUT, RURAL INTELLIGENCER OUT, BERKSHIRES OUT; MANDATORY CREDIT

National gasoline average now below $1.75 a gallon

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Prices at the pump are currently at their lowest prices in seven years courtesy of bountiful supply and cheap costs of crude oil
Categories: Consumers, featured, Gasoline
(Image: Fotolia)

2 killed, 8 injured in fire on Mexico offshore oil platform

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Mexico’s state oil company says a fire that erupted on an oil platform in the Gulf of Mexico killed two workers and injured eight
Categories: General
In this Aug. 4, 2015 file photo, Gov. Mary Fallin talks with the media after meeting with members of the Coordinating Council on Seismic Activity in Oklahoma City. With both the number and power of earthquakes increasing in Oklahoma, the Republican-controlled Legislature may be ready to take steps aimed at curbing the quakes scientists have linked to the underground disposal of oil and gas wastewater. (AP Photo/Sue Ogrocki, File)

Uptick in quakes could prompt action from Oklahoma lawmakers

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According to the U.S. Geological Survey, Oklahoma this year has already had more than 90 earthquakes of magnitude 3.0 or greater, which is generally when most people start to feel them.
Categories: featured, General