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.
( Johnny Hanson / Chronicle )

Rig count tumbles again

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Categories: Crude oil, featured

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
The sun rises over a drilling site in Frio County, Texas. (Jerry Lara/San Antonio Express-News)

US energy rigs grow to 2013 high on oil price surge

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Oil and gas rigs in the U.S. gained for the sixth time in seven weeks, reaching the highest level this year as producers boosted drilling to profit from a $9-a-barrel surge in crude prices over the past two months.
Categories: Exploration, Production
Bob Kimbell and Dale Bookout of GRS (Global Registration Solutions) set up one of the welcome banners George R. Brown Convention Center, overall of the summer North America Prospect Expo convention setting up at the GNB. Here, L-R: . 8/14/13 (Craig H. Hartley/For the Chronicle)

NAPE conference attracts 5,500 to downtown Houston

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The Summer NAPE conference ends today, having attracted 5,500 people to the George R. Brown Convention Center in downtown Houston to trade oil and gas properties and to hear industry leaders’ outlooks on the business.
Categories: Exploration, Production
A crewman directs a pipe for the southern leg of TransCanada's Keystone XL project in Wood County, Texas. The northern leg has not yet received approval from the Obama administration. (Cody Duty / Houston Chronicle)

Building Keystone XL could damage US parks, Interior Dept. says

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Building the Keystone XL pipeline would lead to more manmade light and noise in sparsely populated regions, which may harm natural resources, wildlife and visitors to national parks, the U.S. Interior Department said.
Categories: Environment, Pipelines
Exterior view of Southern Natural Gas Company, L.L.C.’s (SNG) Wrens, Ga. compressor station.  Multiple SNG system lines are tied into the compressor station, located in northeastern Georgia.  The Elba Express Pipeline also has an interconnection at the Wrens compression facility. (Kinder Morgan)

Natural gas transport project in high demand, Kinder Morgan says

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The Elba Express Company and Southern Natural Gas Company expansion projects would be able to move nearly 600 million cubic feet of natural gas per day combined, with a total capital investment of more than $200 million, according to the announcement released this week.
Categories: Natural gas, Pipelines
(Liz Hafalia/The San Francisco Chronicle)

Environmentalists turn on ally over fracking bill

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California state Sen. Fran Pavley’s bill to regulate fracking in California is under attack from some of his most ardent supporters — environmentalists.
David Rainey, BP's then-vice president for Gulf of Mexico production, speaks to the media in New Orleans about the Deepwater Horizon offshore drilling unit explosion in April 2010. (AP Photo/Cheryl Gerber, File)

Former BP exec wants Gulf spill case halted during appeal of key charge

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A former BP executive accused of lying to the U.S. government about the amount of oil that spilled after the 2010 Gulf of Mexico disaster wants his case halted while a federal appeals court considers whether one of the key charges he faces is valid.
Categories: Gulf oil spill

Drumbeat: August 16, 2013

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Foreseeing Trouble in Exporting Natural Gas
MIDLAND, Mich. — As Dow Chemical’s chief executive, Andrew N. Liveris has made himself into something of an outcast among his fellow business leaders.

The reason? He is spearheading a public campaign aga…

Categories: Uncategorized
Black Elk Energy's sign is seen on the front of its office in the 11400 block of Katy Freeway. (Cody Duty / Houston Chronicle)

Black Elk Energy: Fatal fire hit finances, production

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Houston-based Black Elk Energy said Thursday it was still dealing with economic fallout from last year’s fatal explosion at one of its Gulf of Mexico production platforms, even as federal investigators continue to probe the company’s overall safety.
Categories: Gulf of Mexico, Offshore
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Eagle Ford boom helps spur Holt Cat expansion

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Much of the investment helps Holt Cat respond to an increase in business, thanks to the Eagle Ford Shale boom in recent years.
Categories: Eagle Ford
(Photo: Steve Snodgrass/Flickr)

Nuclear reactors in U.S. seen at risk of terrorist attack

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Commercial U.S. nuclear reactors remain vulnerable to terrorist threats more than a decade after the 2001 attacks spurred added safety measures, according to an independent study prepared for the Defense Department.
Categories: Nuclear
(LM Otero/AP)

Exxon, Talisman said to seek Hess, Newfield Asian assets

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Exxon Mobil Corp. (XOM) and Royal Dutch Shell Plc (RDSA) are among bidders for Asian oil and natural gas fields that may fetch about $3 billion for Hess Corp. (HES) and Newfield Exploration Co., said two people with knowledge of the matter.
Categories: Deals
Waorani indigenous youth practice using a blowpipe at the Yasuni National Park in the Upper Napo Valley of the western Amazon region in Ecuador. Ecuador's President Rafael Correa announced Thursday, Aug. 15, 2013 that he has abandoned a unique and ambitious plan to persuade rich countries to pay Ecuador not to drill for oil in the pristine Yasuni rainforest preserve. The idea was to set a precedent in the fight against global warming by lowering the high cost to poor countries of going green. (AP Photo/Dolores Ochoa, File)

Ecuador’s president abandons no-drilling plan

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President Rafael Correa said Thursday that he has abandoned a unique and ambitious plan to persuade rich countries to pay Ecuador not to drill for oil in a pristine Amazon rainforest preserve.
Categories: Crude oil, Natural gas