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

A natural gas drilling site in the Barnett Shale. (AP file photo/Donna McWilliam)

Chesapeake sued for fixing prices, underpaying landowners

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Chesapeake Energy Corp. allegedly manipulated prices and unlawfully passed on its drilling expenses to landowners, shortchanging them on royalty payments for drilling on their land, according to a lawsuit filed in federal court in Dallas.
Categories: Natural gas

Statoil strikes gas again offshore Tanzania

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Statoil and partner ExxonMobil have discovered more gas in block 2 offshore Tanzania.
Categories: Offshore

Subsea well control response now available

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Oil Spill Response Ltd. (OSRL) has unveiled new well capping equipment for deployment in the event of a subsea well control incident.
Categories: Offshore

Well stimulation pays off on Gulf of Suez oil field

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Sea Dragon Energy continues to review ways of boosting production from its Shukheir marine concession offshore Egypt.
Categories: Offshore

Obama picks Perez for labour secretary

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Tom Perez, a senior justice department official, will run the labour department amid efforts to raise the minimum wage and reform immigration
Categories: Uncategorized

PPP backs into block offshore Vietnam

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Pan Pacific Petroleum Vietnam (PPPV121) has acquired a 15% interest from Origin Energy in the block 121 production-sharing contract offshore Vietnam.
Categories: Offshore

AstraZeneca cuts 1,600 jobs in UK and US

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Pharma group to take $1.4bn charge as restructuring will see shift from Alderley Park to new research hub and global HQ in Cambridge
Categories: Uncategorized

Siemens to power North Sea Ivar Aasen platform

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Det norske oljeselskap has signed a letter of intent with Siemens for power and communications systems for the new Ivar Aasen platform in the Norwegian North Sea.
Categories: Offshore

Tideland lights up offshore Qatar platforms

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Tideland Signal has supplied LED light stations to Occidental Petroleum for the offshore Idd El-Shargi South Dome (ISSD) oil field, 50 mi (80 km) northeast of Doha, Qatar.
Categories: Offshore

Halliburton opens technology and manufacturing center in Singapore

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Halliburton (NYSE: HAL) has opened its newly constructed Completion Technology and Manufacturing Center in Singapore.
Categories: Offshore
KiOR's facility in Columbus, Miss. (KiOR)

KiOR ships first production of wood chip-based diesel

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The Pasadena, Texas company announced Monday that it’s production of diesel from pine wood chips at a plant in Columbus, Miss. has reached commercial scale.
Categories: Biofuels

North Sea Dagny offshore development gets new name

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Norway’s Ministry Petroleum and Energy has renamed the North Sea Dagny oil and gas field as “Gina Krog.”
Categories: Offshore

North Sea Huldra offshore platform for sale

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Statoil (OSE:STL) is inviting offers for the Huldra field platform in the Norwegian North Sea.
Categories: Offshore

Facility to advance multi-phase tests and measurements

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DNV KEMA has opened a new multi-phase flow laboratory (MPFL) in Groningen, the Netherlands.
Categories: Offshore

Gas leak halts production from Oseberg offshore Norway

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A power outage this past Thursday at the Oseberg field center in the Norwegian North Sea led to a temporary gas leak, says operator Statoil.
Categories: Offshore