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 rebound in oil prices that bottomed near $44 a barrel in March has provided some relief to stronger companies that have been able to compensate with cost cuts and more efficient operations. For many smaller, cash-strapped producers, current prices of almost $60 still aren’t enough to make ends meet compared to the $100-plus prices seen during the boom days.
South Sudan’s central government lost control of the capital of a key oil-producing state on Sunday, the military said, as renegade forces loyal to a former deputy president seized more territory in fighting that has raised fears of full-blown civil war in the world’s newest country.
If you’ve been missing out on this whole oil boom thing that’s happening in South Texas, the new Shiner Landing development is offering a chance to win some Eagle Ford Shale mineral rights. OK, so it’s a small amount of minerals.
Plains All American Pipeline has announced $120 million in capital projects for the Eagle Ford Shale region, including a new natural gas liquids fractionator. The fractionator, expected to be operational in the second quarter of 2015, will be able to process up to 15,000 barrels per day of natural gas liquids, the Houston-based company announced [...]
FuelFix.com is your daily must-read source for news and analysis on the energy business. Anchored by business reporters at the Houston Chronicle and other Hearst Newspapers, Fuel Fix incorporates blogs by energy experts, market updates, useful data and a real-time summary of the top ideas, hottest stories and latest news in the oil, gas and energy industries.
Browse previous blog posts by month and year of entry. You'll see all the posts for that time period.