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

on
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

Accountants be warned: felonies are forever

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For anyone who thinks that following orders or being a team player offers any legal protection, Sharkey’s story is a wakeup call. The line between loyalty and criminality can be thinner than many employees realize.

Expro signs completion landing string contract in China

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Expro (LON:EXR), has been awarded a $4.5 (£2.9) million one year contract for the supply of 7 3/8 in completion landing string services in China.
Categories: Offshore

Cyprus holds crisis talks in Russia

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Interior minister says troika of international lenders will not accept Nicosia’s ‘Plan B’. Finance chief says there is no breakthrough in Moscow talks
Categories: Uncategorized

Lower Tertiary GoM appraisal well confirms Shenandoah oil discovery

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The Shenandoah 2 deepwater Gulf of Mexico appraisal well has found more than 1,000 net feet (305 net m) of oil pay in multiple Lower Tertiary reservoirs.
Categories: Offshore
Semi-subermisible oil rigs and jackup drilling units in the Gulf of Mexico off the coast of Cameron, La. (Aaron M. Sprecher/Bloomberg)

Bidding begins in Gulf drilling lease sale

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The federal government is kicking off an auction of leases to drill in the central Gulf of Mexico today, but it probably won’t look much like last year’s sale of similar territory, when pent-up, post-spill demand spurred a buying frenzy.
Categories: General
Helen Christine Sharkey, left, a former member of Dynegy's risk control and deal structure groups, is escorted into the Federal Courthouse, Thursday, June 12, 2003, in Houston. Sharkey is one of three former Dynegy Inc. executives charged in a federal indictment unsealed Thursday with creating an Enronesque deal in 2001 used to wrongly boost cash flow and cut taxes to counteract Wall Street worries about the company's financial health. (AP Photo/David J. Phillip)

Steffy: Accountants warned that felonies are forever

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As Helen Sharkey stepped to the lectern, it became clear what she was about to say would be no ordinary accounting lecture.
Categories: Legal issues
(HerryLawford/Flickr)

Natural gas exports concern chemical executive

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The makers of chemicals that go into nearly every product – from plastic wraps to diapers – are celebrating an era of opportunity that is in danger of faltering because of American policy, a Dow Chemical executive said Tuesday.
Categories: Natural gas
(Bill Montgomery/Houston Chronicle)

Bill would force agency to consider consumer power costs

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A Houston lawmaker has proposed that consumer costs and benefits be part of the formula in deciding how to encourage power generators to build new plants at a time when demand is testing the state’s electricity capacity.
Categories: Electricity

Obama faces battle to woo Israeli public

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US leader arrives in Tel Aviv on first presidential visit to Israel, where he faces a sceptical audience as he takes his charm offensive to the people
Categories: Uncategorized
Interior Secretary Ken Salazar climbs stairs from a rig drilling wells for Newfield Exploration Co., in McKenzie County, N.D. during a visit to the state on April 2. (Photo: Jennifer A. Dlouhy / Houston Chronicle)

Newfield CEO seeks ’certainty’ in U.S. amid planned Asian sale

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Newfield Exploration Co. (NFX), which is exploring the sale of its offshore assets in Malaysia and China, said it will be able to expand production more dependably by focusing on North America.
(Photo: Steve Snodgrass/Flickr)

NRC orders nuclear sites to upgrade vents

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U.S. nuclear power plants must upgrade ventilation systems at 31 reactors with designs similar to those that melted down two years ago in Japan, under a Nuclear Regulatory Commission order that stops short of requiring filtered vents, as some safety advocates and NRC’s staff had urged.
Categories: Nuclear

19-year-old son of billionaire buys Siberian oil field

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Arkady Abramovich, the 19-year-old son of Chelsea Football Club owner Roman Abramovich, bought a Siberian oil field, seven years after his father sold his Russian crude producer to OAO Gazprom for $13 billion.
Categories: Deals, Middle East
(Flickr/SalFalko)

Chesapeake faces April trial over $1.3 billion bond call

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Chesapeake Energy Corp. (CHK) and Bank of New York Mellon Corp. are scheduled to face off at trial beginning April 23 over the gas producer’s disputed claim it met a deadline to redeem $1.3 billion in bonds early at par, or 100 cents on the dollar.
Categories: Legal issues
(Image: Flickr/pawpaw67)

Opinion: Tiny tax is the best worst climate fix

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Bill Gates assumes we’ll have one. Thomas Friedman made his case for it on Sunday. And the Sunday before that. Four Democratic legislators want to know what you think theirs should look like.
Categories: Politics/Policy
A contractor closes a valve on a tanker truck at a Range Resources hydraulic fracturing operation in Pennsylvania. (AP Photo/Keith Srakocic)

3rd NY town wins in court over fracking ban

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A third upstate New York town has won a court challenge to its ban on natural gas drilling as two previous cases are about to be argued before a state appeals court.