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.
(AP photo)

EU’s united front on Russia falling amid gas needs

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A clutch of countries is breaking ranks with the EU’s efforts to put economic and diplomatic pressure on Russia over Ukraine and building a pipeline meant to carry huge amounts of Russian gas to their doorstep
Business deal finalized, congratulations!

Macquarie fund buys terminals business in American expansion

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A fund managed by Macquarie Group Ltd. agreed to take full control of a U.S. bulk liquid terminals operation for $1.03 billion in cash and stock as Australia’s largest investment bank expands its North American businesses.
Ben Davenport, 19, stands in front of compressors and other equipment at Lackawanna College School of Petroleum and Natural Gas in New Milford, Pa.  (Jennifer A. Dlouhy / The Houston Chronicle)

Industry, schools partnering to train oil field workers

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Educational programs popping up in Texas, Pennsylvania and North Dakota that aim to help oil companies find enough workers to install pipeline, monitor wells and fix equipment.
(jbachman01/Flickr)

Fortune Global 500 list heavy on oil

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Wal-Mart took the No. 1 spot on Fortune’s Gobal 500 ranking of the world’s largest companies based on revenue, but the top of the list was sloshing with oil.
Iraqi Kurdish forces take position near Taza Khormato as they fight jihadist militants from the Islamic State of Iraq and the Levant (ISIL) positioned five kilometers away in Bashir, 20 kms south of Kirkuk, on June 23, 2014.
(AFP PHOTO/KARIM SAHIBKARIM SAHIB/AFP/Getty Images)

Moody’s: Iraqi violence isn’t likely to affect oil company credit ratings

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Sectarian violence in Iraq probably won’t affect credit ratings of major oil companies operating there, Moody’s Investors Services predicts.
Yellow oil barrels

Oil slips below $104 as Libya set to boost exports

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U.S. crude for August delivery fell 53 cents to close at $103.53 a barrel.
(Golden Pass Products)

Exxon Mobil-Qatar venture seeks permit for Texas LNG plant

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Golden Pass Products, a joint venture of Exxon Mobil Corp. and Qatar Petroleum International, has filed its formal application to build a liquefied natural gas export terminal in Sabine Pass.
Categories: LNG, Natural gas
(Matthew Lloyd/Bloomberg)

BP to sell Panhandle gas fields to Pantera for $390M

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A BP spokesman said Monday the company has struck a deal to sell off rights to a chunk of its natural gas-rich property in the Texas Panhandle for $390 million.
Categories: Deals, Natural gas
A rig works in the Marcellus Shale. (Andrew Harrer/Bloomberg)

Shale gas producer plans $400M IPO

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Colorado-based shale gas producer Vantage Energy told regulators Monday it is planning to go public for $400 million.
Categories: Deals, Natural gas
(Helge Hansen / Statoil)

Rice Energy snaps up Marcellus land from Chesapeake

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Pennsylvania shale gas producer Rice Energy is buying more acreage in the Marcellus Shale for $336 million, its first land grab since its Wall Street debut earlier this year, the company said Monday.
Categories: Deals, Natural gas
Noble Corp. Bully I and Globetrotter I drillships work on a Shell project in the Gulf of Mexico. (Noble Corp.)

Noble Corp. spinoff Paragon announces $1.2 billion debt offering

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Paragon Offshore Ltd., the spinoff of offshore drilling contractor Noble Corp., today announced plans to issue $1.2 billion in private debt.
Brian Salerno, then-deputy commandant for operations for the U.S. Coast Guard, testifies during a hearing before a House subcommittee in Washington, D.C. in April 2012. Salerno now is the  head of the U.S. Bureau of Safety and Environmental Enforcement. (Petty Officer 2nd Class Etta Smith/U.S. Coast Guard)

Regulator says collaboration needed offshore

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One of the biggest obstacles in boosting the safety of offshore drilling is making sure a massive web of contractors and oil companies are working collaboratively to prevent accidents, a top federal regulator says.