Fuel Fix

LINN Energy buys BP Hugoton Basin acreage for $1.2 billion

LINN Energy has reached a deal with BP America Production Co. to acquire 600,000 acres in the Hugoton Basin for $1.2 billion, according to the Houston-based oil and natural gas development company.  More »
Protesters of the proposed Keystone XL oil pipeline at a rally in Washington, D.C. (Puneet Kollipara / the Houston Chronicle)

New Keystone plan splits pipeline in parts

TransCanada Corp. announced it would build its Keystone XL tar-sands oil pipeline in two separate steps as it prepares to file a new application for U.S. approval of a cross-border permit.  More »
The mobile offshore drilling unit Development Driller III at the Deepwater Horizon site on May 7, 2010. (U.S. Coast Guard file photo)

A legal expert’s take on BP’s settlement talks

As settlement talks continue between the Plaintiff Steering Committee and BP over the Deepwater Horizon disaster, outside legal experts are speculating on the potential value of the plaintiffs’ cases.  More »

(Melissa Phillip/Houston Chronicle)

Transocean 4th quarter loss includes $1 billion Macondo charge

Transocean recorded a $1 billion contingency loss for its role in the largest offshore oil spill in U.S. history, adding to a total $6.1 billion fourth-quarter loss.  More »
(Photo: gotosira, Flickr)

Phoenix stinks. No, really, it does

Phoenix fire officials say they think they know what caused a big stink that prompted 250 calls over two hours, with some people complaining of nausea and headaches.  More »
(Nick De La Torre / Houston Chronicle)

Blackstone commits $2 billion to Cheniere gas-export plant

Cheniere Energy Partners LP, operator of the largest U.S. natural gas-import terminal, said Blackstone Group LP agreed to invest $2 billion toward construction of a $10 billion plant to export the fuel.  More »
Transocean's Marianas semisubmersible drilling rig. (Photo: Transocean)

Transocean reports $6.12 billion 4Q loss on charge

Transocean Ltd., the world’s largest offshore-rig operator, reported a fourth-quarter loss after the company’s contract drilling business lost market value, resulting in a writedown.  More »
Workboats operate near the Transocean Development Driller II at the site of the Deepwater Horizon incident in the Gulf of Mexico. (AP file photo/Dave Martin)

Steffy: What a BP settlement could look like

With news Sunday that the start of the mammoth BP trial was delayed for a week, speculation immediately moved to talk of a settlement and what it would look like.  More »
This image provided by BP's spillcam on June 6, 2010 shows oil leaking out of the Macondo well head in the Gulf of Mexico. (AP file photo/BP)

Report: BP ready for lengthy oil spill trial

BP chief executive Bob Dudley said the company is able to fight a lengthy court battle over the 2010 oil spill in the Gulf of Mexico.  More »

Permian Basin of West Texas seeing oil boom

The Permian Basin of West Texas is experiencing an oil boom, leading some of the region’s top oilmen to predict that Texas oil production will double within five to seven years.  More »
Statoil's Polar Pioneer drills in the Skrugard field in the Barents Sea. (Photo: Harald Pettersen/Statoil)

Statoil venture finds large oil field off Brazil

Norway’s Statoil says its joint venture with Petrobras and Repsol Sinopec has discovered oil some 120 miles off the Brazilian coast in the Atlantic Ocean.  More »
Fire boat response crews battle the blazing remnants of the Deepwater Horizon rig in the Gulf of Mexico in April 2010.  (Photo: HO/AFP/Getty Images)

Spill trial delayed a week

The start of the massive Deepwater Horizon spill trial has been delayed by a week to allow BP and a committee representing various plaintiffs that have sued BP more time to reach a settlement.  More »
Oil from the Deepwater Horizon spill is seen floating on the surface of the water in Bay Jimmy, near where oil was spotted in June 2011. (AP Photo/Gerald Herbert, File)

Steffy: Justice delayed for Deepwater Horizon victim

Almost 1,000 documents have been filed since the lawsuits against BP and other companies involved in the Gulf oil spill were combined in a New Orleans court.  More »
(Photo: Loozrboy/Flickr)

Eminent domain isn’t solid ground for oil industry

Texas is in the midst of a shale drilling boom, but the oil and gas industry is concerned that an eminent domain fight over a carbon dioxide pipeline near Beaumont could slow that down.  More »
(Jorgosphotos / Flickr)

Gasoline continues fueling politics

A gallon of regular averaged $3.65 nationwide Friday, AAA reported, up from $3.53 a week earlier. Oil interests see that as a chance to push harder for more domestic energy development.  More »