Fuel Fix

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.

Chesapeake Energy rebounds after denying bankruptcy plans

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A Chesapeake Energy storage tank near Dilley, Texas. (Pat Sullivan/AP)
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.
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

Flags fly outside Dow Chemical Co. headquarters in Midland, Michigan, U.S., on Wednesday, Dec. 9, 2015. Dow Chemical Co. and DuPont Co., two historic giants of American industry, are considering a merger that would ultimately dismantle both along lines proposed by activist investors over the past two years. Photographer: Jeff Kowalsky/Bloomberg

Dow reports increased income, job cuts as DuPont merger looms

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Dow, the largest employer in Brazoria County, is planning to merge into the newly formed DowDuPont by the end of the year.
BPsign

BP CEO: oil outlook ‘lower for longer, but not lower forever’

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The oil-market crash cost BP more last year than the Deepwater Horizon disaster cost it in 2010.
Tesoro-Logo

Tesoro misses expectations

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Tesoro, which operates six refineries in the western U.S., generated $1.5 billion in profits for 2015, up from $872 million in 2014.
Categories: General, Refining
(Kristen Hays/Houston Chronicle)

Anadarko posts $1.25B loss, to cut 2016 spending in half

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Anadarko Petroleum Corp. posted a $1.25 billion loss in the fourth quarter and expects to cut its budget in nearly half this year as the business of extracting oil and gas has soured.
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)

Trucks will move oil stored after California pipeline break

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The Santa Barbara County Planning and Development Department endorsed the proposal, which lets Exxon Mobil run up to 30 truck trips a day for as long as six months to move the marooned crude.
(AP Photo/Stephan Savoia)

February starts with the national gasoline average below $1.80

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The Houston region and Texas overall averaged $1.58 a gallon on Monday — it’s lowest point since January 2009 — and $1.79 a gallon nationally, according to GasBuddy’s daily survey data. The price fell by 2.4 cents in the last week in Houston and by about 2.6 cents in the U.S. overall. The national average is down 20 cents just in the last month.
Over thirty oil drilling rigs idling in a Helmerich & Payne, Inc. yard along Groening Street in Odessa, Texas, in the Permian Basin on  May 18, 2015. (Courtney Sacco/Odessa American via AP)

Banks “finally found religion” at $30 oil, lawyers see wave of bankruptcies

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More than two dozen Texas bankruptcy attorneys expect a 30 percent increase in corporate restructurings and bankruptcy filings in the state this year, according to a sampling of bankruptcy attorneys by Houston consultancy HSSK.
Pam Sharp, left, director of the Ofiice of Management and Budget, and Gov. Jack Dalrymple talk Monday at the state capitol in Bismarck, N.D.  Dalrymple on Monday ordered deep cuts to government agencies and a massive raid on state savings to make up for a more than $1 billion budget shortfall due to depressed crude prices and a drop in oil drilling. (Tom Stromme/The Bismarck Tribune via AP)

North Dakota governor orders cuts due to low oil prices

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The Legislature’s record-high $14.4 billion budget for the two years that began July 1 was built on oil prices and economic assumptions that have fallen “much greater than anyone would have predicted,” the governor said.
Categories: Crude oil
frame full of pink slips, layoff notices, etc.

Energy companies detail hundreds more layoffs

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Texas oil and gas companies told state regulators they’d cut 915 jobs last week, as the industry continues to struggle amid low prices.
Categories: General
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Industry study predicts Gulf drilling plummet from safety rule

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Announced last April by Secretary of the Interior Sally Jewel, the rule would tighten standards on blowout preventers – the device that failed in the case of Deepwater – as well as put more controls on how companies drill and monitor wells deep under the surface of the ocean.
A  2010 file photo shows a sign at a BP  station in London. (AP Photo/Alastair Grant, File)

BP upstream chief to become deputy CEO amid reorganization

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BP announced a reorganization of its top managers Monday and said its upstream chief will become deputy CEO and share duties with CEO Bob Dudley as the British oil major navigates one of the worst oil downturns in decades.
CenterPoint Chief Operating Officer Scott Prochazka has been named CEO, effective Jan. 1, 2014. (photo: CenterPoint Energy)

CenterPoint considers selling its pipeline business

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The Houston-based power line and electric distribution company also said it is considering converting all or part of its utility businesses into a real estate investment trust, or REIT, business model that’s rare for the energy sector.
Categories: General