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

(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
Workers tend to a wellhead during a hydraulic fracturing operation at an Encana Oil & Gas (USA) Inc. gas well outside Rifle, in western Colorado.  (AP Photo/Brennan Linsley)

Study: New gas development boom unlikely in Mich.

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Michigan may have large natural gas reserves deep underground, but it will likely be years before they would be developed on a large scale, giving policymakers time to deal with the environmental and public health concerns associated with the extraction method known as fracking, according to a study released Thursday.
(AP file photo/Southeast Missourian, Aaron Eisenhauer)

Renewable fuel pays off for some oil refiners

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The rising cost of renewable fuel credits turned out to be good economic news for some oil companies, especially those who are producing biofuels and have blending capacity.
(AP Photo/Keith Srakocic)

Fracking limits for Virginia forest spark debate on water

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A proposal to restrict natural gas production in a Virginia national forest has become a flashpoint in the debate over whether drilling endangers water — in this case water used by millions of people in the Washington region.
The Eirik Raude semi-submersible rig operates on the Jubilee Field offshore Ghana. (Photo: Tullow Oil)

Tullow strikes first oil in Norway after 10 unsuccessful wells

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Tullow Oil Plc (TLW) discovered its first crude off Norway after at least 10 unsuccessful wells this year.
Categories: Crude oil, Offshore
A shopper chooses packs of octopus caught in the water off Fukushima at a supermarket in Soma, Fukushima Prefecture, northeastern Japan, Monday, June 25, 2012. (AP Photo/Kyodo News)

South Korea bans fish from NE Japan on radiation fears

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South Korea announced Friday that it was banning all fish imports from along Japan’s northeastern coast because of what officials called growing public worry over radioactive water leaking into the Pacific Ocean near the crippled Fukushima Dai-ichi nuclear power plant.
Categories: Nuclear
In this July 29, 2010, photo, oil and water flow down Ceresco Dam as oil spill clean up continues along the Kalamazoo River near Ceresco, Mich. (AP Photo/Detroit Frtee Press, Andre J. Jackson)

Enbridge moves ahead with Michigan river cleanup

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A pipeline company responsible for an oil spill three years ago in southwestern Michigan is moving forward with dredging activity as part of the cleanup.
Shell used the drillship Noble Discoverer for its 2012 drilling in the Chukchi Sea north of Alaska.  (Jennifer A. Dlouhy / The Houston Chronicle)

Shell to pay $1.1 million in fines to settle with EPA over Arctic drilling

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In a settlement with the federal government announced late Thursday, Shell Oil Co. will pay $1.1 million in fines to settle claims that it violated air pollution permits while drilling in U.S. Arctic waters last year.
Categories: Arctic, General
An activist holds a sign during a protest in front of the Hale Boggs Federal Building on the first day of the trial earlier this year in New Orleans over the Deepwater Horizon oil rig spill. (Photo by Sean Gardner/Getty Images)

BP, government offer dueling Gulf spill estimates

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BP urges a judge to use an estimate of 2.45 million barrels while Justice Department experts estimate 4.2 million barrels.

Categories: Gulf oil spill
Janiece Longoria

Houston port has record exports, but challenges remain, port chairman says

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Houston Port Chairman Janiece Longoria served up an entrée of ideas at a petrochemical conference in Pasadena on Tuesday, saying that even in prosperous times – Houston overtook New York as the nation’s top export market in 2012 – the region faces challenges that call for industry and government collaboration.
Categories: Markets
Stoneham 18 rig works on a well in Oasis Petroleum's Red Bank area of West Williston in Williams County, North Dakota. (Vern Whitten)

Oasis to buy Bakken acreage in four deals for $1.5 billion

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Oasis Petroleum Inc., the Houston- based oil producer founded in 2007, signed four separate agreements totaling $1.52 billion to add to its North Dakota acreage and boost output.
Categories: Deals, Shale
A drilling rig stands over a natural gas well near Interstate 70 west of Rifle, Colo. (AP Photo/David Zalubowski)

Exxon: Natural gas soon will overtake coal in global energy use

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Thanks to the advent of hydraulic fracturing, natural gas has a new manifest destiny: By 2040, the commodity used to make electricity will command 25 percent of the world’s energy supply. At least, that’s what Exxon Mobil Corp. projects.
Categories: featured, Natural gas, Shale