Fuel Fix

Royalties from oil production on state lands is pushing Texas' Permanent University Fund toward a record $1 billion in annual revenue. (AP Photo/Hasan Jamali)

Oil above $85 as Spain gets funds to rescue banks

Oil jumped above $85 a barrel Monday in Asia after Europe offered Spain a $125 billion rescue loan for its troubled banks.  More »
Hundreds of cranes and vessels are at a standstill at Port Fourchon Friday Dec. 3, 2010, in Golden Meadow, La. The typically bustling port has slowed since the moratorium of drilling in the Gulf of Mexico. (AP Photo/Kerry Maloney)

Steffy: Who should pay when drilling stops?

The drilling moratorium that the president enacted after the Deepwater Horizon spill has left many energy companies grappling with the question of who should pay for business lost during the five-month shutdown of deep-water operations in the Gulf.  More »
Portrait of Security State Bank Preident and CEO Mike Wilson in his office Thursday May 24, 2012 in Pearsall, Tx. Photo: Edward A. Ornelas, San Antonio Express-News / © 2012 San Antonio Express-News

Eagle Ford banks challenged as deposits skyrocket

South Texas landowners getting fat checks from oil companies for drilling on their land have been a boon to banks based in the Eagle Ford Shale.  More »
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Dust permeates the air at a Chesapeake Energy Co. hydraulic fracturing operation at a well site near Carrizo Springs, Texas. (John Davenport/San Antonio Express News)

Eagle Ford: Enterprise opens crude-gathering system

Houston-based Enterprise Products Partners LP said the first phase of its crude-oil gathering system for Eagle Ford Shale producers is complete.  More »

Statoil says airport strike could affect production, drilling

Statoil ASA (STL), Norway’s biggest oil producer, said a strike of security personnel at airports that is grounding helicopters may start affecting offshore production and drilling next week.  More »
Workers move a section of well casing into place at a Chesapeake Energy natural gas well site near Burlington, Pa. (AP Photo/Ralph Wilson, File)

Chesapeake directors resign after shareholder rejection

Chesapeake Energy Corp. shareholders rebuked the company’s board by withholding support for two directors up for re-election at Friday’s annual meeting. Both directors have tendered their resignation.  More »
Workers join sections of pipe on a Trinidad Drilling rig leased by Chesapeake Energy north of Douglas, Wyo. Photo: Alan Rogers / Copyright 2012 CASPER STAR-TRIBUNE

Follow the Chesapeake Energy shareholder’s meeting live

Shareholders of Chesapeake Energy Corp., who have seen the value of their shares fall 40 percent over the last year, will gather today for their annual meeting at the Oklahoma City campus of the debt-heavy gas producer.  More »

Greenpeace releases behind the scenes look at fake Shell Oil video

Shell Oil didn’t have the week that they expected.  More »

Shell recruits train for Arctic oil spill

Against the backdrop of Alaska’s snow-topped Chugach Mountains and in the same waters that were spoiled by the Exxon Valdez oil spill more than two decades ago, Shell is training recruits in skills it hopes they never have to use.  More »
Chesapeake Energy-board.JPEG-0bdd2

Chesapeake to sell pipeline assets for more than $4 billion

Chesapeake Energy Corp. said today plans to sell its pipeline business for more than $4 billion.  More »

UH working to develop “smart” cement

A University of Houston civil engineering researcher has received a $2.6 million grant to develop a new type of “smart” cement that could make offshore drilling safer.  More »
(John Davenport/San Antonio Express-News)

Drilling activity trending down

Texas oil and gas producers in April began to curtail drilling as falling crude oil prices fed anxiety over economic uncertainty, according to the Texas Petro Index, prepared by economist Karr Ingham for the Texas Alliance of Energy Producers, the largest state association of independent oil and gas producers.  More »
Ron Saville examines sleeping quarters. The structure from Lone-Star Marine Shelters will sleep 76 persons, who will have their own televisions. Photo: J. Patric Schneider / Houston Chronicle

New quarters for offshore oil workers

An island company that makes office and living quarters for offshore oil and gas workers showed off its latest project on Thursday, a three-story, 8,640-square-foot steel structure that weighs 691 tons and sleeps 76.  More »

BP workers find 2 dead monkeys in shipping crate

Workers opening a crate of valves at the BP Whiting Refinery in northwest Indiana were surprised to find two dead monkeys inside.  More »
Anadarko headquarters in  The Woodlands.

Anadarko cut as $25 billion toxic suit oozes into court

Anadarko Petroleum Corp. (APC) investors are discounting the company’s market value by $2 billion as analysts and lawyers see few ways to minimize the effect of a $25 billion lawsuit spawned by the toxic past of its Kerr-McGee Corp. unit.  More »