Fuel Fix

(Photo by Eddie Seal for Bloomberg News)

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.

U.S. oil rig count jumps up by a dozen, the first increase in 2015

on
(Photo by Eddie Seal for Bloomberg News)
The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.
(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

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BP has agreed to pay a record $18.7 billion to settle the federal and state claims against it for its role in the Deepwater Horizon oil spill, sidestepping years of litigation with a promise to pour funds for nearly two decades into efforts to repair vast environmental damage in the Gulf region.
Categories: featured, Gulf oil spill

    Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

    Shale drillers’ safety net is vanishing

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    SandRidge, the Oklahoma City-based producer, had about 90 percent of its oil and natural gas liquids output hedged in early 2015, according to a regulatory filing. Next year, the hedges cover less than a third.
    Categories: featured, Shale
(Andrey Rudakov/Bloomberg)

Shell issues profit warning for fourth quarter

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Royal Dutch Shell PLC has issued a profit warning for the fourth quarter, saying results will be worse than most analysts expected due to a mix of lower production, higher costs, and a worse performance by its refining division
A sign tower reaches toward the sky at the entrance to Schlumberger's Sugar Land campus. (AP file photo/Pat Sullivan)

Schlumberger income rises on robust Middle East, Asia demand

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Schlumberger Ltd.’s profit rose 28 percent in the fourth quarter on high drilling activity and demand for oilfield services in the Middle East and Asia, as well as sales in a resurgent Gulf of Mexico.

North Dakota's U.S. Attorney Tim Purdon, right, and North Dakota Attorney General Wayne Stenehjem are shown in 2013.  The North Dakota attorney general's office is looking for a new special prosecutor who will handle nothing but drug cases in the state's oil patch. (AP Photo/The Bismarck Tribune, Tom Stromme, File)

Prosecutor sought for N. Dakota oil patch drug cases

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North Dakota Attorney General Wayne Stenehjem hopes to have the position filled within two months.
Categories: General, Legal issues, Shale
(Photo courtesy of Shell Oil Co.)

Feds ask Shell for assurances on Arctic drilling

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Federal regulators scrutinizing Shell’s bid to resume Arctic drilling next summer are pressing the company for more evidence it has fixed the kind of problems that plagued its last search for black gold in the region.
Categories: Arctic, Politics/Policy
U.S. District Judge Carl Barbier (Bloomberg News)

Appeals court refuses to transfer Louisiana claims

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The Louisiana Attorney General’s Office accused U.S. District Judge Carl Barbier of ignoring the state‚Äôs spill-related claims.
Categories: Gulf oil spill
Oil Barrel

Oil slips back below $94 a barrel; pump price dips

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On Thursday, OPEC said in a report that it expects global demand for oil to increase by around 1 million barrels a day, up from an increase of 900,000 barrels a day in 2013.
Canadian Foreign Affairs Minister John Baird speaks at a U.S. Chamber of Commerce luncheon in Washington Thursday. (AP Photo/Cliff Owen)

Canada: Yes or no? Just make a call on Keystone XL

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President Barack Obama is expected to decide early this year.