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

US Secretary of Energy Ernest Moniz speaks during a meeting at the National Industry Confederation headquarters in Brazil on August 16, 2013. (Evaristo SAEVARISTO SA/AFP/Getty Images)

Obama climate plan not a war on coal, energy secretary says

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President Barack Obama’s plan to combat climate change is not, as critics allege, a “war on coal,” says U.S. Energy Secretary Ernest Moniz.
Categories: Environment
Opponents of hydraulic fracturing for natural gas, or fracking, demonstrate on the campus of Binghamton University hours before President Barack Obama is scheduled to speak about affordable college education during a town hall meeting, Friday, Aug. 23, 2013, in Vestal, N.Y. Obama is on a the second day of his two-day bus tour in upstate New York and Pennsylvania. (AP Photo/Mike Groll)

Fracking foes interrupt Obama’s trip to New York

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President Barack Obama stopped at Binghamton University on the second leg of his tour to promote a college affordability plan on Friday, but the demonstrators who lined the president’s motorcade route had something else on their minds: Hydraulic fracturing.
Director of the Bureau of Safety and Environmental Enforcement Brian Salerno appears at his Coast Guard retirement ceremony June 5, 2012. (Petty Officer 2nd Class Patrick/U.S. Coast Guard )

New offshore drilling regulator takes helm

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Oil and gas companies drilling in U.S. waters have a new regulator in the nation’s capital, as a Coast Guard veteran formally took the helm of the Bureau of Safety and Environmental Enforcement on Monday.
Categories: Offshore, People
An oil pump jack is shown in a a field adjacent to a sub-division near Fredrick, Colo.  (AP Photo/Ed Andrieski)

New groups join battle over drilling on public lands

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A new Colorado-based group launched Monday with the aim of countering the oil industry’s pro-drilling message in the West. It is the latest entry in a state rapidly becoming a battleground for oil and gas development.
Categories: Politics/Policy
(John Picken/Flickr)

Energy use spikes during first week of school

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A series of hot showers, stove-top cooking, blinds angled the wrong way and repeated opening of doors can boost the temperature of a home and add energy-intensive air conditioning work, TXU said.
Categories: Electricity

Drumbeat: August 26, 2013

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Richard Heinberg: Was the Oil and Gas Industry Promoting Peak Oil to Make Maximum Profits?
The change in our public conversation about energy is predicated on new drilling technology and its ability to access previously off-limits supplies of crude oil…
Categories: Uncategorized
(Kostas Tsironis/Bloomberg)

A kilowatt saved is a kilowatt earned

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As the Texas power industry and its regulators debate how to generate enough electricity to accommodate a growing population’s demands, they also are looking at ways to reduce that demand when it’s highest.
Categories: Electricity
Nesting pelicans are seen landing as oil washes ashore at an island near Louisiana in May 2010. (AP Photo/Gerald Herbert)

Victims’ attorneys attack BP’s effort to block spill payments

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Attorneys for victims of the 2010 Gulf of Mexico oil spill say BP’s latest effort to halt payments from its multibillion-dollar class action settlement should be denied because the company has failed to present any evidence that any claim has been improperly calculated or paid.
This undated photo released by Indigo Minerals shows aerial views of the Indigo II Louisiana Operations freaking site in Rapides Parish, La. on Bently Lumber land.  It's been three years since energy companies began leasing hundreds of thousands of acres in the Tuscaloosa Marine Shale, hoping to cash in on the mother lode: 7 billion barrels of recoverable oil. But the expected economic surge that oil and gas industry members and public officials envisioned has yet to materialize. (AP Photo/Indigo Minerals, P.C. Piazza)

Working through Tuscaloosa Shale’s complexities

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It’s been three years since energy companies began leasing hundreds of thousands of acres in the Tuscaloosa Marine Shale, hoping to cash in on the mother lode: 7 billion barrels of recoverable oil.
Categories: Crude oil, Natural gas
Luminant's Big Brown coal power plant (AP photo)

Texas lets company near bankruptcy expand mines

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Scattered between the green rolling hills and thick pine forests of East Texas are small towns that have one thing in common: For generations, they have relied on coal mines and power plants for jobs, population growth and economic development.
Categories: Finance/Earnings
Wayne Knox, Assistant Construction Manager - Contractor for TransCanada's Keystone XL project looks at a pipe before it's lowered into the ground in Wood County, Wednesday, Oct. 24, 2012, in Winnsboro. (Cody Duty / Houston Chronicle)

Keystone’s impact on Venezuela muted by waning imports

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It’s an article of faith among supporters of the proposed Keystone XL pipeline: approving the project would allow the U.S. to use more crude from Canada and less from Venezuela and other unfriendly regimes.
Categories: Keystone XL, Pipelines
Smoke rises from Unit 3 of the tsunami-stricken Fukushima Dai-ichi nuclear power plant in northern Japan (AP Photo/Tokyo Electric Power Co.)

Fukushima leaks prompt government to ‘emergency measures’

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Japan’s government will lead “emergency measures” to tackle radioactive water spills at the wrecked Fukushima nuclear plant, wresting control of the disaster recovery from the plant’s heavily criticized operator, Tokyo Electric Power Co.
Categories: Nuclear