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

Lew set for cyber talks with Beijing

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Jack Lew, who became Treasury secretary last month, chose China for his first international trip, in an effort to strengthen ties with new leadership
Categories: Uncategorized
(Photo: Brian Turner/Flickr)

Hercules wins ruling in ‘say on pay’ lawsuit

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A judge said the suit was based on “flawed premises.”

Logic of sacrifice grinds on in Syria

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Despite a siege mentality, a martyrdom cult fuses ideas of country, regime and community, and an enemy at the gates, in Syria’s port city of Tartous
Categories: Uncategorized
(StockMonkeys.com/Flickr)

FERC lacks power on futures contracts, court rules

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Congress intended to centralize oversight of futures contracts in the CFTC, the court said.
Categories: General

Data reveal scale of China abortions

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Official data from the health ministry show 532m abortion and sterilisation operations were performed since 1971 in China to limit the population
Categories: Uncategorized
centerpoint

CenterPoint $11B deal reaches further into shale

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Houston-based CenterPoint Energy will combine its pipeline assets with those from Oklahoma’s OGE Energy in an $11 billion deal that will give the partnership’s network more access to shale plays and added sources of cash.
Categories: Deals, Electricity

Fugro Chance, Coda Octopus to collaborate on subsea imagery

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Fugro Chance Inc. and Coda Octopus Group Inc. (CODA) have entered into a two-year cooperation agreement to take advantage of Coda Octopus Echoscope, a patented 3D sonar technology.
Categories: Offshore

Live: JPMorgan Senate hearing

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Ina Drew, the former chief investment officer at JPMorgan, is among the bank’s current and former executives appearing before a Senate committee
Categories: Uncategorized

‘New way’ pope faces old forces

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Should Francis take on the Vatican apparatus revealed to be a font of corruption, waste and power intrigues, some say he may not last the course
Categories: Uncategorized

Ophir outlines offshore Ghana, Gabon drilling campaigns

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Ophir Energy (LN:OPHR) plans an extensive drilling campaign this year offshore West Africa.
Categories: Offshore
(Nemigo/Flickr)

Gas export debate heats up over economic benefits

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A report highlighting the higher economic benefits of using American natural gas to make things rather than selling it overseas has drawn heated criticism from export backers.

Regalia to assist Montrose platform activities

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Talisman Sinopec Energy UK has contracted Prosafe’s accommodation semisubmersible Regalia for a program in the central North Sea.
Categories: Offshore

Aramco secures two more Asia Offshore Drilling jackups

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Asia Offshore Drilling (AOD) has signed drilling contracts with Saudi Aramco for the use of two newbuild jackups offshore Saudi Arabia.
Categories: Offshore

MMT to continue North Sea pipeline inspections for DONG

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DONG Energy has extended MMT’s contract to inspect North Sea pipelines to 2014, with an option to prolong the arrangement further through 2015-2017.
Categories: Offshore

Further well spud imminent offshore Israel

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Delek Group has confirmed that Noble Energy and its partners will drill the Karish #1 exploration well on the Alon C license offshore Israel.
Categories: Offshore