Fuel Fix

permian basin

W&T Offshore to sell Permian assets for $376 million

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Categories: Crude oil, Deals, featured, Texas
W&T Offshore has agreed to sell its stake in a West Texas oil field to a private equity start-up company for $376 million, the latest oil deal geared toward supporting a seller’s financial books amid cheap oil prices.

W&T Offshore to sell Permian assets for $376 million

on
Categories: Crude oil, Deals, featured, Texas
permian basin
W&T Offshore has agreed to sell its stake in a West Texas oil field to a private equity start-up company for $376 million, the latest oil deal geared toward supporting a seller’s financial books amid cheap oil prices.
A group of idle rigs is seen behind James Noe, Senior Vice President, General Counsel and Chief Compliance Officer for Hercules Offshore while aboard the Hercules 251 a shallow water drilling rig owned by on Wednesday, Aug. 11, 2010, near Port Fourchon, La. (Smiley N. Pool /Chronicle)

Cameron sells offshore jack-up rig business for $100 million

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Cameron International Corp. has agreed to sell off its offshore jackup rig business for $100 million to a Singapore rig contractor, the companies announced Monday.
Categories: Deals, featured, Offshore
A member of ExxonMobil's cleanup crew is reflected in water and oil in a drainage ditch along State Highway 365 in Mayflower, Ark., Monday, April 1, 2013. (Courtney Spradlin /AP/Log Cabin Democrat)

Cleanup of soil from Exxon oil pipeline spill complete

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The company has agreed to do weekly sheen monitoring and sheen removal in the cove and to do the same within 48 hours after rainfall.
Categories: Accidents, Pipelines
RWE Dea AG's Mittelplate oil drilling and production island is seen in the Schleswig-Holstein Wadden Sea, off the coast of northern Germany. (RWE Dea AG via Bloomberg)

Russian billionaire to buy RWE oil and gas unit

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L1 Energy, the investment vehicle of Russia’s fourth-richest man Mikhail Fridman, agreed to buy RWE AG’s Dea oil and gas unit, gaining assets in the U.K., Germany and the North Sea.
Categories: Deals, Europe
In this Aug. 19, 2011 photo, visitors at Natural Soda's plant in Rio Blanco County, Colo., get a look during a tour at the plant's solution-mining process for baking soda. The Bureau of Land Management has approved development plans for oil shale research-and-development leases owned by Natural Soda and Exxon Mobil. The leases are intended in part to show how oil shale might be developed without jeopardizing the baking soda resource. (AP Photo/Grand Junction Daily Sentinel/Dennis Webb)

A renewed search for western Colorado oil shale

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Exxon Mobil has edged another step closer to undertaking oil shale research-and-development projects with the Bureau of Land Management’s approval of development plans.
Categories: Crude oil, Production
A Schramm worker operates the control room of a Telemast rig. West Chester, Pa-based Schramm, which maintains a sales representative in Houston to raise its profile in the Permian Basin and other western oil and gas plays, introduced a horizontal-drilling Telemast model in July 2013. (Schramm)

Pennsylvania driller adds Houston rep to boost shale business

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Producers in unconventional oil plays are pushing to drill more wells with each rig they hire, and that has drilling companies upgrading their equipment to make it lighter, nimbler and more powerful.
Categories: Production
A rig drills in the shale region of West Virginia for a Statoil project. (source: Statoil)

Investor activism threatening oil industry amid shale worries

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Well-heeled investors who control a growing block of money behind the North American energy surge have stepped up their bid to wring profits from oil companies, steering capital away from projects and toward dividends.

Clayton Williams Energy sells Eagle Ford acreage

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Midland-based Clayton Williams Energy said today it has sold its Austin Chalk and Eagle Ford Shale wells and acreage for $71 million. The wells and leases are in Wilson, Brazos, La Salle, Frio and Robertson counties. They accounted for about 5 percent of the company’s oil and gas production at the end of 2013. The […]
Categories: Uncategorized

AP reports: Crude-by-rail surges with shale

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From the Associated Press: The number of carloads of crude oil U.S. railroads delivered last year surged 83 percent over 2012 as concerns about the shipments grow. The Association of American Railroads said Thursday the major U.S. railroads delivered 434,042 carloads of crude oil in 2013. That’s well above the 236,556 carloads of crude oil […]
Categories: Uncategorized