Linn, which borrowed billions of dollars to expand during the height of the shale oil boom, saw its stock value sink below $1 a unit for the first time in January.
The boom in U.S. natural-gas supplies is boosting chemical exports to Asia, driving up demand for specialized ships that carry the products and sending freight rates to a five-year high.
At Royal Dutch Shell Plc’s (RDSA) compound in the Nigerian city of Warri, the gate is locked, the grounds are empty and grass has overgrown since Europe’s biggest oil company closed its operations in March after more than 40 years.
Enbridge Inc. will nearly triple the amount of contaminated sediment it dredges in Michigan’s Kalamazoo River to clean up after a July 2010 oil pipeline spill, the U.S. Environmental Protection Agency announced Tuesday.
ExxonMobil Corp. says it wants an investigation into a March oil spill in a Mayflower neighborhood to wrap up before it opens discussions about a pipeline’s path below a watershed that provides drinking water to hundreds of thousands of people in central Arkansas.
The boom in oil and gas fracking has led to jobs, billions in royalties and profits, and even some environmental gains.
Houston’s Oil States International, an energy services firm, said Tuesday it will spin off its housing business, creating two standalone companies.
Houston’s Kinder Morgan Energy Partners and Canadian midstream company Keyera Corp. announced plans Tuesday to jointly build a crude oil rail loading facility in Edmonton, Alberta.
In the wake of the fatal train derailment in Canada that killed dozens as crude oil tank cars exploded, the oil industry and railroads are resisting attempts by the Obama administration to boost rail safety standards. The Associated Press is reporting: “Industry groups say it is impractical to retrofit tens of thousands of existing
Crews plan to begin drilling Thursday to intercept and plug a Gulf of Mexico natural gas well that went out of control last week.
Plains GP Holdings LP, the company formed as a general partner to Plains All American Pipeline LP, filed to raise $1 billion in an initial public offering.
Eagle Ford Shale production will jump 50 percent this year, hitting an average 844,000 barrels per day, according to an analysis by research and consulting firm Wood Mackenzie.