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

Members of Local No. 13-836 of the United Steelworkers union Gary Brinson (left) and Randall Hetzel picket the front gate of Firestone Polymers in Orange, Texas. The strike that began noon Monday after negotiations failed to resolve issues that included a wage increase and health insurance deductibles. (Guiseppe Barranco/Beaumont Enterprise)

Firestone Polymers union walks out on strike

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A representative for the United Steelworkers said the union went on strike because Firestone Polymers wanted to triple the deductible for health insurance and refused to extend the current benefits by a year.

GE in landmark board shake-up

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The election of the new directors – three of whom have already joined the board – follows shareholder advisers’ concerns about corporate governance
Categories: Uncategorized

Drilling in Frio County and elsewhere in the Eagle Ford Shale continues to speed up. Sanchez Energy purchased an additional 43,000 acres there Monday.

Sanchez Energy snags 43,000 acres in the Eagle Ford

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Sanchez Energy Corp. has agreed to purchase 43,000 acres in the Eagle Ford Shale from Hess Corp. for $265 million.
Categories: General

Charter soars on interest from Liberty

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Shares in the cable operator hit new highs on reports that John Malone’s Liberty Media was in talks to acquire a 25% stake for $2.5bn
Categories: Uncategorized

Electronic Arts to replace chief executive

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The second-largest video game publisher by market capitalisation lost its crown when Activision merged with the games division of Vivendi
Categories: Uncategorized
Rangeland Energy is planning a crude oil terminal in Southeast New Mexico, similar to the one it launched in North Dakota. (Rangeland photo)

Rangeland plans crude oil terminal in New Mexico

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Rangeland Energy has agreed to purchase up to 770 acres in Southeast New Mexico for a large terminal facility to handle crude oil, sand, pipe and other products.

SAC signals further action after $614m deal

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Tom Conheeney, SAC president, told clients that he did not ‘want to leave you with the thought that this means everything is cleared up’
Categories: Uncategorized

Cyprus levy plan ‘bleak day for banking union’

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Investors rattled that terms of bailout seem to tear up the principles of creditor hierarchy, setting a precedent that could be replicated elsewhere in eurozone
Categories: Uncategorized
Apache Corporation operates in the Gulf of Mexico. (Apache Corp.)

Apache looking at all options for $2 billion of asset sales

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Apache Corp., the fourth-largest U.S. independent oil and natural gas producer by market value, said its entire portfolio is up for review as it pursues at least $2 billion in asset sales.
Categories: General

Cyprus concerns spook markets

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Shares drop as a plan to tax private bank deposits to fund a €10bn bailout for Cyprus revives worries about Europe’s debt crisis
Categories: Uncategorized

Statoil starts up sixth tieback to Norne offshore Norway

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Statoil has started production from the Skuld field in the Norwegian Sea via a tieback to the Norne production ship.
Categories: Offshore

Republicans attack chief executive pay

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The party’s move to fund a new grassroots network aimed at minorities follows a review of its losing performance in the 2012 presidential election
Categories: Uncategorized

BG upbeat about well test offshore Tanzania

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BG Group has completed appraisal drilling on the Jodari gas discovery in block 1 offshore Tanzania.
Categories: Offshore

BG adds satellite wells to Everest production in North Sea

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BG Group has started production from its Everest East expansion project in the UK central North Sea.
Categories: Offshore

Bloomberg takes aim at cigarette displays

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In New York the smoking rate among adults fell from 21.5% in 2002 to 14.8% in 2011 – but youth smoking has been flat at 8.5% since 2007
Categories: Uncategorized