Fuel Fix

Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)

A single oil rig was shut down last week, extending six month decline

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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 single oil rig was shut down last week, extending six month decline

on
Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)
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.
Original byline: Jim Blecha/

Vanguard Natural Resources scoops up smaller Houston rival for $474 million

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The most recent deal comes on the heels of Vanguard’s announcement in April that it will acquire LRR Energy LP for more than $250 million.
Categories: Crude oil, Deals, featured, Shale

Icahn muscles in on Dell deal

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News of stake comes as group faces shareholder opposition to planned $24.4bn buyout by founder Michael Dell and Silver Lake, the private equity firm
Categories: Uncategorized

TGS schedules two Barents offshore geophysics surveys

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TGS will start the 2013 European acquisition season with two 3D multi-client surveys in the Norwegian Barents Sea.
Categories: Offshore

India witnesses SUV boom

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Sales of 4x4s are up 59%, driven by an increasingly wealthy and brand-conscious middle class, even as the overall car market in India is dropping
Categories: Uncategorized

ExxonMobil sells interests in 20 deepwater GoM tracts to Neftegaz

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ExxonMobil has sold a 30% interest in 20 deepwater Gulf of Mexico exploration blocks to Neftegaz America Shelf LP.
Categories: Offshore
(Photo: NuStar Energy)

NuStar in dispute on pipeline

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San Antonio-based NuStar Energy LP says it’s checking out all its legal options in a dispute with TexStar Midstream Services LP, which has backed out of the second of two deals to sell assets to NuStar.
Categories: Pipelines

Bills target those long oil field hotel stays

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Hotel rooms and worker lodges are full across South and West Texas, as the oil and gas industry rushes to drill thousands of new wells.
Categories: Eagle Ford
(AP Photo/Xinhua, Liang Xiaopeng, File)

U.S. has clean-energy trade surplus with China

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American clean-energy companies racked up a $1.6 billion trade surplus with China in 2011, according to a report issued Wednesday.
Categories: Solar
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After repair, Motiva reaches capacity

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The expanded Motiva Port Arthur Refinery has reached its full operating capacity of 600,000 barrels of crude processing nearly eight months after a new unit suffered internal damage, causing a major disruption in the $10 billion expansion project.
Categories: General
Crewmen work a site for TransCanada's Keystone XL project in Wood County, Wednesday, Oct. 24, 2012, in Winnsboro. (Cody Duty / Houston Chronicle)

Keystone fails Texas common-carrier test, landowners say

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TransCanada Corp. (TRP) faces court arguments from Texas landowners that its plans for the Keystone XL pipeline to transport Canadian tar-sands oil to coastal refineries don’t give it the right to condemn their property.
Categories: Keystone XL
A contractor closes a valve on a tanker truck at a Range Resources hydraulic fracturing operation in Pennsylvania. (AP Photo/Keith Srakocic)

Dearth of skilled workers imperils $100 billion in projects

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After spending years searching for enough crude to pump, the U.S. oil and natural gas industry now is struggling to find and pay for enough skilled workers to tap the abundant supply in shale rock, putting $100 billion in planned petrochemical projects at risk.

Kenyan candidate claims vote rigging

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Campaign team behind Raila Odinga claims results of Kenya’s presidential election are being doctored and calls for count to be halted
Categories: Uncategorized
Sally Jewell, CEO of REI, and President Barack Obama's pick to succeed Ken Salazar as Interior Secretary, leads a five-woman team to the top of Mount Rainier in this July 2010 photo.  (AP Photo/The News Tribune, Janet Jensen)

Obama Interior pick championed outdoor jobs over oil

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As she stood before governors from western U.S. states last June, Sally Jewell made a pitch that was self-evident and revolutionary: Public lands are an economic boon.
Categories: Politics/Policy

China moves to make its markets credible

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Country aims to be included in major international stock indices but the timing of reforms and corporate governance, are likely to be sticking points
Categories: Uncategorized
India Exxon Valdez

Project to archive Exxon Valdez records continues

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A project to archive records related to the Exxon Valdez oil spill is continuing after the state sought to address concerns raised by a federal judge.
Categories: Crude oil

Rift over forcing banks to deal with losses

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London-based IASB calls for more money to be set aside earlier, but its proposals fail to bridge regulatory disagreement with US
Categories: Uncategorized