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.
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.
As a former oil industry executive and a member of the House Natural Resources Committee, Texas Rep. Bill Flores is at the center of big debates about offshore drilling, hydraulic fracturing and domestic energy supplies. He also is a big trader in energy stocks.
The derailment of a train carrying oil in North Dakota on Monday, and the subsequent evacuations caused by its explosion, could draw more regulatory scrutiny to rail shipments of crude. But the soaring use of trains to move oil is a long-term trend that is not likely to change soon, analysts say.
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