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

The man who capped the banks

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While countless politicians have decried banker pay and bonuses, few imagined Philippe Lamberts, a freshman MEP from Belgium, could do something about it
Categories: Uncategorized
(Photo: Fotolia)

US may swap light oil for heavy Mexican crude, Sieminski Says

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The U.S. might consider exporting light, sweet crude to Mexico in a swap for heavy crude, Adam Sieminski, administrator of the U.S. Energy Information Administration, said today at a conference in Houston.
Categories: Canada

Data show spots of brightness in US economy

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Manufacturing survey in the US shows robust growth but weak data from elsewhere in the world highlight reliance on world’s largest economy
Categories: Uncategorized

Einhorn drops lawsuit against Apple

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Activist hedge fund Greenlight drops lawsuit against the iPhone maker, saying that the unbundling of a shareholder vote had removed its grievances
Categories: Uncategorized
(arbyreed/Flickr)

Swift Energy stops oil flow after boat hit shut-in well

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Swift Energy Co. said today that as of Thursday afternoon it had brought under control an outflow of water, oil and natural gas from a shut-in wellhead in the shallow waters of its Lake Washington field in Plaquemines Parish, Louisiana.
Categories: General

Odinga warns of trouble if he loses poll

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A leading contender to become Kenya’s next president says that the public reaction to a rigging of Monday’s election in the country could be ‘worse than last time’
Categories: Uncategorized
Former BP Chief Executive Tony Hayward (center), current BP CEO Robert Dudley (right), and then-Chairman and President of BP America Lamar McKay (left) leave the White House following a meeting with U.S. President Barack Obama in 2010. McKay is now head of BP's upstream unit. Hayward is no longer with the company. (Win McNamee/Getty Images)

Steffy: BP habitually shields leadership

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Houston Chronicle columnist Loren Steffy responds to testimony from BP’s former safety official, who said the company’s internal report didn’t examine management’s culpability in the Gulf oil spill disaster.
Categories: General
Shareholders have criticized Chesapeake’s board for failing to rein in what they’ve seen as Chief Executive Officer Aubrey McClendon’s risk-taking and overspending at the company. (F. Carter Smith/Bloomberg )

Chesapeake under investigation by SEC

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Chesapeake Energy Corp. acknowledged Friday that it had been subpoenaed by the U.S. Securities and Exchange Commission and other authorities related to allegations of conflicts of interest and collusion.
Categories: Natural gas

Petrobras offshore presalt oil production reaches 300,000 b/d

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Oil production at Petrobras-operated fields in the presalt areas of the Campos and Santos basins has reached the 300,000 b/d mark.
Categories: Offshore

Wintershall lining up well on Mjøsa offshore Norway

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Bridge Energy has provided an update on its upcoming programs offshore Norway.
Categories: Offshore
electric_Power_pole

Texas electric supply will be ‘very tight,’ grid operator says

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Electric Reliability Council of Texas, the state’s grid operator, said there was a “significant chance” it would have to issue emergency alerts and ask consumers to reduce energy use on some days this summer.
Categories: Electricity

Centrica growing offshore North Sea oil and gas reserves base

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Centrica’s upstream capital investments last year totaled £2.7 billion ($4.06 billion), of which about £2 billion ($3 billion) was directed at North Sea gas and oil assets, including the completion of three acquisitions.
Categories: Offshore

Apache Main Pass 295 well control successful

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Well control action at Main Pass 295 in the Gulf of Mexico is complete and has stopped a kick, reports Apache.
Categories: Offshore

Statoil signs Aker, FMC to long-term subsea service agreements

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Statoil has awarded subsea services framework agreements to Aker Solutions and FMC Technologies for work on the Norwegian continental shelf.
Categories: Offshore

BP safety chief: probe ignored management role

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BP’s management has a long history of carefully excluding itself from scrutiny.
Categories: Uncategorized