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
Seismic-and-Exxon

Feds promise report next month on effects of Atlantic seismic testing

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Marking a significant step toward eventual oil drilling off the East Coast, the Interior Department is set to soon publish a final assessment of the environmental effects of a new generation of seismic research in U.S. Atlantic waters in February.
Categories: Politics/Policy
Exxon Mobil CEO Rex Tillerson

Exxon chief: US will be energy secure by 2020 (video)

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The United States will be energy secure by the end of the decade, Exxon Mobil CEO Rex Tillerson told CNBC Thursday.
Categories: Asia, Shale

A new group, called Texans for Reliable Power, ran a full-page ad Thursday in the Austin Statesman that warns of future power shortfalls in Texas if market modifications are not made. This is the top of the ad.

Interest groups point fingers over Texas’ near-blackout

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Generators are arguing that Monday’s electricity shortage is related to poor incentives for construction; opponents say that poor planning and maintenance could be the root cause.
Categories: Electricity
KiOR's facility in Columbus, Miss. (KiOR)

Biofuels producer stops production to make improvements

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Officials with KiOR, which owns the biomass conversion facility in Lowndes County, will use the first quarter of 2014 to focus on improving its operations not producing fuel.
Categories: Biofuels
(Image: Fotolia)

Oil settles above $92 after hitting 8-month low

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Crude rose on report that economy added fewer jobs than expected, fueling speculation Federal Reserve will reconsider slowing its economic stimulus.

Categories: Crude oil, Markets
A gas drilling rig in the Fayetteville Shale near Quitman, Ark. (AP file photo/Mike Wintroath)

UT study: Fayetteville Shale still holds promise

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The Fayetteville Shale in Arkansas will be one of the nation’s most prolific regions for natural gas production, with reserves that can be economically extracted through 2050, according to a study released this week.
Categories: featured, Natural gas, Shale
Cheniere Energy already is expanding this LNG plant in Louisiana, but federal agencies are in conflict over plans for a Texas facility. (Cheniere Energy)

Manufacturers call for halt on natural gas export approvals

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Dow Chemical and other big industrial users of natural gas are imploring the Obama administration to stop approving licenses to broadly export the fossil fuel.