Chesapeake posts first-quarter loss on hedging bets
Losses for the quarter totaled $205 million, or 32 cents per share. A year earlier the independent Oklahoma City-based natural gas and oil producer reported a profit of $732 million, or $1.14 per share. More »
LyondellBasell is in expansion mode in the U.S.
The chemical maker that emerged from bankruptcy a year ago, plans expansions at existing plants, possibly in Channelview and La Porte, over the next few years to increase its ethylene output by about 500 million pounds a year. More »
Shell to submit new Arctic offshore drilling plan
Shell Oil will apply to drill 10 wells off Alaska’s Arctic shore over the next two years under exploration plans headed to federal authorities. The company hopes to see results from a $3.5 billion investment that has been thwarted in recent years by court challenges or inability to obtain federal permits. More »
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With acquisition, Arch Coal makes a bet on steel
Arch Coal said Monday that it will buy the International Coal Group for $3.4 billion in cash, creating one of the world’s largest coal producers. The deal would create the second-biggest producer of metallurgical coal in the U.S. at a time when prices for such steel-making coal are rising. More »
Raises: Did you get yours?
You may not have gotten a pay bump for a while, but somebody did: Houston led the nation’s top 15 cities in wage increases over the past year, driven by oil and gas companies that have been giving raises throughout the recession. More »
OTC 2011: More family-friendly than flashy this year
Back in the day the exhibit hall of the Offshore Technology Conference would be filled with lots of flashy, umm, distractions. On Day one this year the Houston Dynamo girls were as racy as it got on the trade show floor. More »
OTC 2011: Many new products revealed with an eye toward Macondo
If there was a problem identified in the Deepwater Horizon accident, chances are someone at the Offshore Technology Conference is selling a solution for it. Take a look at the new products companies are pushing at the trade show this year. More »
Oil settles lower on bin Laden’s death, stronger dollar *updated*
“It’s kind of a see-saw effect,” said Michael Lynch, president of Strategic Energy & Economic Research. “There will be a fear, I think, in the short-term in the markets that something might happen in the next week or two. I do think in the longer term, it suggests likely more stability in the Middle East.” More »
OTC 2011: Regulators will share checklist for drilling permits
The feds plan to make public a clear outline of the components operators must have in their drilling permit applications before permits can be approved — a move industry leaders have pushed for in the wake of the Deepwater Horizon disaster and deep-water drilling ban. More »
Bromwich at OTC 2011: Feds will regulate offshore contractors *updated*
The nation’s top offshore drilling regulator, Michael Bromwich, said the government’s offshore drilling agency has the power to oversee oilfield service firms, rig suppliers and other offshore contractors who traditionally have been outside the ocean energy bureau’s watch. More »
OTC 2011: An old idea behind a new way to cut pipe
A bit of late-night inspiration from a T-3 Energy engineer led to a new way for cutting drilling pipe during an oil well blowout. More »
OTC 2011: After stress of Macondo, this year ‘feels normal again’
At last year’s event BP’s Macondo well was still gushing thousands of barrels of oil into the Gulf of Mexico. Now, things are looking up as drilling activity resumes in the deep-water Gulf and high oil prices are providing a tailwind for new global exploration. More »
April 26, 2013
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