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:  www.blazesports.org

Commentary: On fracing in the UK, both sides have a lot in common

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That camp paints a pretty bad picture of oil & gas professionals also, but of course, either way those are all crude generalizations, and their effects are the same: they further reinforce an “us vs. them” mentality, and ignore the fact that both pro and anti-industry groups actually have plenty of common ground from which to start a more productive exchange than what’s currently going on in the English countryside.
The sun rises over a drilling site in Frio County, Texas. (Jerry Lara/San Antonio Express-News)

White House credits oil production with improving economy

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Increased domestic oil and natural gas production is something “to celebrate,” as it helps pare the U.S. trade deficit and beef up the country’s economic output. Although that may sound like a conclusion from the oil and gas industry and some of its biggest boosters in Washington, D.C., the assessment actually comes from two of the Obama administration’s top economic advisers.
This Aug. 20, 2013 aerial file photo shows the Fukushima Dai-ichi nuclear plant at Okuma in Fukushima prefecture, northern Japan. (AP Photo/Kyodo News, File)

Japan’s Abe says Fukushima will be resolved before 2020 Olympics

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Japanese Prime Minister Shinzo Abe said he will tell the International Olympic Committee that leaks of radioactive water at the crippled Fukushima nuclear plant will pose no problem in hosting the 2020 Olympics.
Categories: Nuclear
Oil workers at the West Qurna Phase 2 field in the Basra region of Iraq in 2010.  (AP file photo/Nabil al-Jourani)

Iraq awards $348 million in oil drilling deals

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Iraq has awarded oil drilling deals worth a combined $348 million to two Chinese firms and Swiss-based oilfield services company Weatherford.
Categories: Deals
Kuwaiti refinery barrels

Kuwait seeks oil assets to expand abroad after industry shakeup

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Kuwait Foreign Petroleum Exploration Co. is seeking acquisitions including in Southeast Asia to meet output targets, according to its chief executive officer, who the country installed as part of a shakeup of the oil industry.
Categories: Crude oil, Middle East
(Photo: Michael Cote/Flickr)

Ethanol’s discount to gasoline narrows on lower production rates

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Ethanol’s discount to gasoline narrowed on speculation production of the biofuel will drop lower than levels already seasonally below-average before this year’s corn harvest.
Categories: Gasoline
An oil pump works near Stanley, N.D. (AP file photo/James MacPherson)

US drilling boom boosting family incomes by $1,200 a year, report finds

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The surge in domestic drilling that has transformed parts of North Dakota, Arkansas and Pennsylvania into modern-day boomtowns is causing ripple effects across the entire U.S. economy, spurring investments in new chemical plants and trimming household bills, according to a report released Wednesday.
Categories: featured, Production

Swan Song Wish List

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I began posting on TOD in 2008 when I was a PhD student working with Charles Hall on basically everything energy but focusing specifically on the connections between EROI (energy return on energy invested) and the economy. Most of that work is summariz…
Categories: Crude oil
(AP file photo/Sue Ogrocki)

Kinder Morgan, Valero complete Gulf Coast pipeline

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Valero and Kinder Morgan Energy Partners LP have completed a $250 million, 141-mile pipeline that will transport refined petroleum products from plants just west of New Orleans, including Valero’s St. Charles refinery, to a petroleum transportation hub in Collins, Miss.
Categories: Pipelines
Vitol_blueonwhite

Energy trading firm to anchor new Houston development

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International energy trading firm Vitol will anchor a new development planned in the Upper Kirby District, a developer announced Tuesday.
Categories: Real estate
A boat is surrounded by oil near the site of the Deepwater Horizon accident in June 2010. (Smiley N. Pool / Houston Chronicle)

Concerns about Gulf spill settlement are irrelevant, plaintiffs lawyers say

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The lead plaintiffs attorneys who negotiated last year’s multibillion-dollar class-action civil settlement in the litigation over the 2010 Gulf of Mexico oil spill asked a federal appeals court Tuesday to reject a challenge to the deal filed by more than a dozen individuals and businesses.
Categories: Gulf oil spill
Power transmission lines stretch along Space Center Boulevard in Houston. (Bill Montgomery/Houston Chronicle)

Texas grid can handle winter power demand, ERCOT says

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Texas grid planners said Tuesday that the state’s power system is well prepared to handle extreme weather through the winter.
Categories: Electricity