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

Oil flows out of the top of the transition spool, which was placed into the gushing Macondo wellhead at the site of the Deepwater Horizon oil spill in the Gulf of Mexico in July 2010. AP Photo/BP PLC, File)

U.S. appeals part of ruling in BP spill case

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The judge’s decision that shaved more than $4 billion off the maximum pollution penalties BP must pay.
Categories: Gulf oil spill
(AP Photo/Skagit Valley Herald, Scott Terrell)

After oil spills, feds order valve replacements on 6,000 tank cars

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The Federal Railroad Administration on Friday ordered the owners of an estimated 6,000 tank cars to replace unapproved valves that have caused oil to leak from trains heaving crude.
Categories: Politics/Policy, Rail

Israeli Prime Minister Benjamin Netanyahu chairs a weekly cabinet meeting at his Jerusalem office in March 2015.  (AP Photo/Gali Tibbon, Pool)

Senators push oil-supply pact with Israel

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Senators want the United States to renew a longstanding pledge to supply Israel with crude if the country’s oil supplies are interrupted.
Categories: General, Politics/Policy
The Strategic Petroleum Reserve  site in Freeport uses salt domes underground to store the oil. (Houston Chronicle file photo)

Feds to buy 5 million barrels of oil for emergency stockpile

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The planned purchase of sweet crude between June 1 and July 31 is required by federal laws forcing the Department of Energy to buy back petroleum products within one year, using the proceeds from a test sale.
The Texas Panhandle sky silhouettes a Linn Energy drilling rig in Wheeler County. (Linn Energy)

Rig count keeps falling

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Data from oil field service company Baker Hughes showed that the number of rigs chasing crude oil rig fell by 56 to 866 this week, its lowest level since March of 2011.
Categories: Crude oil, featured
(Sam Chill/Flickr)

Commentary: Progress seen on solar front

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Here are some signs of solar progress being made across the globe.
Categories: Solar

Bill would let Texas counties keep some mineral wealth for damaged roads

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Oil- and gas-producing counties would get to keep a narrow slice of the mineral wealth that’s generated under their property, under a bill filed by State Sen. Carlos Uresti, D-San Antonio. The bill would let the counties keep royalty payments for the minerals produced under county lands — essentially the county road system, which has been […]
Categories: Uncategorized
(Photo by Andrew Burton/Getty Images)

Oil could fall again if U.S. crude clutters storage, IEA says

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The International Energy Agency says stable oil prices in recent weeks could be a mirage, as the market hasn’t finished shedding a global glut in crude supplies.
baker hughes walking rig

Texas Petro Index falls as oil and gas activity continues to suffer

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Every economic indicator measured by the index fell in January, the report indicated.
Categories: General

State lawmakers introduce demand response bill

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State lawmakers introduced a bill yesterday that would make it easier for companies to pay electric customers who agree to reduce their power use when demand strains the grid.
(AP Photo/Al Grillo)

Alaska House advances operating budget with broad cuts

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The budget advanced includes $273.8 million less for agency operations compared with the current fiscal year.
(AP Photo/Xinhua, Jin Liangkuai)

CGG open to Technip partnership after spurning takeover approach

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CGG has lost more than half its market value in the past year as oil majors including Total SA slash spending on exploration.
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IEA sees China, India filling strategic reserves with cheap oil

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The two nations are building emergency stockpiles with millions of barrels of crude that mirror the reserves of oil and refined products that the U.S. and its western allies amassed after the first oil crisis of 1973 to 1974.
(AP Photo/Seth Perlman)

What to do if you lose your energy job

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Some experts predict upstream oil and gas job cuts in Texas could reach 50,000. An energy sector recruiter explains what laid off workers should do to boost their job prospects.
(Photo by Eddie Seal for Bloomberg News)

Texas oil taxes crumple 40 percent during price collapse

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As oil prices have fallen, hundreds of drilling rigs have been swept to the sidelines from the Permian Basin near Odessa and Midland to the Eagle Ford Shale in the south.
Categories: Politics/Policy, Texas