Fuel Fix

A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)

Paragon Offshore reaches creditor deal for bankruptcy filing

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Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.

Paragon Offshore reaches creditor deal for bankruptcy filing

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A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)
Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.
( Johnny Hanson / Chronicle )

Rig count tumbles again

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The total rig count, which when including natural gas rig fell by 30, now stands at 541.
Categories: Crude oil, featured

(AP Photo/Hussein Malla)

Libya’s oil exports plunge as problems escalate

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Libya’s prime minister faced increasing calls for his ouster on Saturday as strikes by government employees at oil export terminals cost the North African country more than $5 billion in losses.
A flag flies otuside the headquarters building of XTO Energy Inc. in Fort Worth, Texas, U.S., on Monday, Dec. 14, 2009. (Matt Nager/Bloomberg)

Top 10 deals of the US energy boom

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Here’s a look at the highest valued energy mergers and acquisitions since 2008.
Categories: Deals, featured

My Last Campfire Post

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I checked my user profile for this site and discovered that as of today I have been a member for 7 years and 37 weeks. Wow! So much has happened to me and my family over those years and a lot of it was shared on The Oil Drum. For reasons I’ll explain…
Categories: Uncategorized
(Photo: Brian Turner/Flickr)

Probe finds evidence of plot to corrupt BP spill settlement program

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An independent probe led by former FBI Director Louis Freeh found evidence of a lawyers’ plot to “corrupt” the BP settlement program but nothing that warranted shutting down payments to victims of the company’s 2010 oil spill in the Gulf of Mexico, according to a report issued Friday.
A natural gas drilling site in the Barnett Shale. (AP file photo/Donna McWilliam)

EnerVest affiliates to snap up Barnett Shale assets

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Affiliates of Houston-based oil and gas company EnerVest Ltd. agreed to buy $218 million worth of the Barnett Shale natural gas assets that Carrizo Oil & Gas unloaded this week.
Categories: Deals, Natural gas
A Coast Guard MH-60 Jayhawk helicopter crew hoists crew members from the Shell's mobile drilling unit Kulluk in 15- to 20-foot seas 80 miles southwest of Kodiak City, Alaska on Saturday, Dec. 29, 2012. (Photo: Coast Guard Petty Officer 1st Class Sara Francis)

Shell responds to $1.1 million Arctic pollution deal

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Shell’s troubled quest for Arctic oil in 2012 — now capped with a $1.1 million fine for environmental violations — will make the company better prepared to return to the region, a spokesman said Friday.
Categories: Arctic
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Gastar increasing holdings in Oklahoma’s Hunton play

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Houston’s Gastar Exploration said this week that it will spend $187.5 million to buy an interest in land in the Hunton play of Oklahoma.
Categories: Deals, General, Shale
Aerial view shows  the petrochemical refinery complex in Deer Park. (AP Photo/David J. Phillip)

Natural gas liquids are a rising star in the oil patch

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Worldwide production of natural gas liquids is soaring — fueled largely by the U.S. drilling boom — and that rapid rise will alter the global energy market for at least a decade, analysts say.
Casing sits on the Noble Discoverer, ready to be run in the first half of the well Shell is drilling in the Chukchi Sea. (Jennifer A. Dlouhy / Houston Chronicle)

Houston tubular business sells for $600 million

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Houston-based Oil States International has sold its tube and casing business for $600 million, the company said Friday.
Categories: Oil field services
(Ken Childress/Rosetta Resources)

US oil production reaches highest level in 24 years

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U.S. oil production last week hit its highest level in 24 years as companies continue to pump oil out of the ground at a rapid pace, according to government data.
Categories: Crude oil, Production
People walk on the beach in the exclusive residential area of Sandbanks in Poole, U.K.. Matt Cardy/Getty Images

Fracking near $14 million homes aids case for U.K. shale

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Property developer Julie Wilde says the fracking of an oil field under her beach-side villa on England’s south coast has done nothing to hurt the value of the $14 million home.
(Photo: Fotolia)

Oil prices boost Texas Petro Index to record high

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The state’s oil and gas boom roared ahead in July, boosting an industry index to record levels.
Categories: Production