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

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Hess agrees to replace some directors amid investor pressure

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Investors led by Elliott Associates have accused chief executive John Hess of stacking the board with cronies, some of whom had served as directors for almost three decades.
Categories: Refining
Photo: Flickr.com/sskennel

Reporters flood week-long energy conference

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Scores of reporters from as far as China are joining the crowds of executives and analysts as IHS CERAWeek gets underway in Houston.
Categories: CERAWeek

Money Roll

Senator’s natural gas vehicle bill would have benefited top donor

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Sen. Robert Menendez of New Jersey sponsored failed legislation that would have boosted tax credits and grants for vehicle fleets that converted to alternative fuels, a business investment of his biggest political donor.

Wall Street stages late rebound

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Chinese developers lead decline after the country’s service sector expands at the slowest pace in five months and mortgage rules are tightened
Categories: Uncategorized

Boeing defends refusal to abandon 787 battery

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Commercial aircraft chief says company is ‘comfortable’ with controversial lithium-ion batteries, despite overheating incidents that grounded fleet
Categories: Uncategorized
Construction at Chevron Phillips Chemical's Cedar Bayou 1-Hexene plant in Baytown will will be completed in early 2014. The expansion there and at other Chevron Phillips plants along the Gulf coast was prompted by low natural gas prices. (Chevron Phillips)

Houston ranks No. 1 for corporate growth

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The Houston area had more corporate expansion projects last year than any other large city in the country, according to a new report from Site Selection magazine.

FSA crackdown on cash for CEO access

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Analysis by regulator of the use of client commissions by 15 asset managers found large payments totalling millions that were ‘hard to justify’
Categories: Uncategorized

InterMoor to present on Lufeng project at Offshore Asia

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InterMoor’s recent permanent mooring project in the South China Sea, involving the upgrade and relocation of the Lufeng FSOU mooring system, will be one of the highlights at Offshore Asia March 6-8, 2013, in Kuala Lumpur, Malaysia.
Categories: Offshore
(Nick de la Torre/Houston Chronicle)

Best tweets from CERAWeek 2013

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Downtown Houston will be buzzing with energy this week as the annual CERAWeek conference gets underway. With the world’s energy leaders gathering to discuss issues from technology to policy, here’s who’s chiming in from the social media sphere.
Categories: CERAWeek

Obama moves to fill cabinet

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Republicans offered a positive reaction to Sylvia Mathews Burwell’s appointment as the White House budget director, including rare praise from Paul Ryan
Categories: Uncategorized

Rigs in the Eagle Ford – and beyond

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Where are they drilling for oil and gas across the country? As of March 1, there were 841 drilling rigs operating in Texas, 187 in Oklahoma, 175 in North Dakota, 104 in Louisiana, 77 in New Mexico, 74 in Pennsylvania, 55 in Colorado, 45 in Wyoming, 34 in California, 28 in Utah and 22 in West Virginia, [...]
Categories: Uncategorized

Hess announces new director slate amid investor pressure

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As the battle has unfolded in recent weeks, Hess shares have risen and shareholders could reap even more benefits as the dispute continues.

Investors click out of Apple into Google

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Apple’s recent stock market weakness stands in contrast to the strong momentum in Google’s shares, which have risen 15% since the start of 2013
Categories: Uncategorized

London banks turn to law on bonus caps

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Drastic options being weighed up by City bankers underline industry anxiety over moves to impose a fixed ratio pegging bonuses to salary
Categories: Uncategorized
ConocoPhillips operations in the Eagle Ford Shale in South Texas.

Shedding refineries could hurt ConocoPhillips, some analysts say

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While the company focuses on growing U.S crude production, ConocoPhillips’ decision to split from its refineries could come back to haunt it, some analysts are saying.
Categories: Crude oil