Fuel Fix

A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)

Paragon Offshore reaches creditor deal for bankruptcy filing

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Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.
( Johnny Hanson / Chronicle )

Rig count tumbles again

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Categories: Crude oil, featured

Paragon Offshore reaches creditor deal for bankruptcy filing

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A Paragon Offshore rig working in the North Sea. (File photo/Paragon Offshore)
Under the plan, the oil services provider will be able to reduce more than $1.1 billion of debt and loosen some covenants, the company said.
( Johnny Hanson / Chronicle )

Rig count tumbles again

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The total rig count, which when including natural gas rig fell by 30, now stands at 541.
Categories: Crude oil, featured
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Mexico opposition party seeks legislation for Pemex to sell shares

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The changes would require additional legislation to enable a “small” share sale, said Salvador Vega, the party’s top member on the Senate Energy Committee. The proposal would also break the monopoly on electricity generation and distribution held by state power company Comision Federal de Electricidad.
Categories: General
(AP Photo/Brennan Linsley)

GOP advances bill to block federal fracturing rules

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The House Natural Resources Committee on Wednesday approved legislation that would effectively block the federal government from regulating the hydraulic fracturing process that is unlocking previously unrecoverable supplies of gas and oil.
(James Nielsen/Houston Chronicle)

Halliburton to plead guilty in spill case on Sept. 19

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Halliburton Energy Services has been arraigned on a charge that the Houston-based company destroyed evidence following BP’s 2010 oil spill in the Gulf of Mexico.
Categories: Gulf oil spill
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AAA: Gas prices jumped in July; Aug. could rise higher

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Gasoline prices jumped 14 cents per gallon in July, making this the third most expensive summer driving season so far, according to AAA.
Categories: Gasoline

Where the oil deals are: Bakken, Eagle Ford, Gulf of Mexico

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Where are the oil and gas deals happening? About half of the activity worldwide has been in the U.S. this year, and mostly focused on oil instead of natural gas, according to a new midyear report from Deloitte & Touche LLP. Deloitte says that although mergers, acquisitions and asset purchases have slowed in 2013, there’s  
Categories: Uncategorized
(Photo: Wikimedia Commons/Petr Adamek)

Commentary: The ultimate delay game

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As the five-year anniversary of Keystone XL’s application to the State Department approaches, proponents of the project agonize about the costly delays while opponents cite a lack of scientific certainty and certain doom for the environment if the project goes forward.
Categories: Nuclear, Politics/Policy
A fire ignited the Hercules 265 jack-up rig Tuesday after natural gas leaked from an uncontrolled natural gas well in the Gulf of Mexico, federal authorities reported. (U.S. Coast Guard)

Well plugging effort delays assessment of damaged Gulf rig

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Hercules Offshore says it does not know yet how badly one of its Gulf of Mexico rigs was damaged in a blowout and fire last week, and cannot take a close look until a relief well permanently kills the one that blew out.
(AP Photo/Lisa Poole, File)

Phillips 66 earnings fall with disappointments

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Refiner Phillips 66 said it underperformed in the second quarter of the year as its earnings from refining fell by nearly half compared with the same period a year ago.
This drilling rig bores into the Eagle Ford shale. (Forrest Mims III, San Antonio Express-News)

Drilling rigs in the Eagle Ford – and across the U.S.

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Texas has 848 drilling rigs hunting oil and gas – 47.7 percent of U.S. rigs, 24.6 percent of all rigs worldwide, according to the latest Baker Hughes rig count. The Permian Basin in West Texas has the biggest share – by a bunch – of the state’s drilling rigs, with 386. The Eagle Ford Shale  
Categories: General
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Domestic biodiesel production hits record in May

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U.S. biodiesel production hit a record level of 111 million gallons in May, according to data released Wednesday by the U.S. Energy Information Administration.
Categories: Biofuels, General, Refining
Aerial view of drilling activity at one of Carrizo’s wells in northern LaSalle County, Texas, a portion of the Eagle Ford Shale. (Carrizo Energy)

McKinsey: Shale, related industries could add $700B to US economy by 2020

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McKinsey & Company is estimating that the shale industry will generate $700 billion for the US economy by 2020, as it transforms related industries, such as manufacturing, trade and infrastructure demands.
Categories: Shale

Drumbeat: July 31, 2013

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The Whole World Is Getting Richer, and That’s Good News
This month the most accurate source for global data on the size of the world’s economies got a makeover. As a result, we have measures of economic growth and relative income across countries tha…
Categories: Uncategorized