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.

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

Tamar offshore rig, off the coast of Israel
 (Albatross via Getty Images)

Israel’s deepest well targets 1.5 billion barrels of oil

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The deepest oil well drilled in Israel’s 65-year history may be the most important.
Categories: Offshore
Specialized tankers carry natural gas after it's chilled to a liquid state. It then is turned back into gas at its destination. (AP)

Temasek racing Exxon to build biggest LNG terminal stash

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A Temasek Holdings Pte unit is up against Exxon Mobil Corp. (XOM) and Royal Dutch Shell Plc (RDSA) in a contest to fill storage tanks that will hold three times as much liquefied natural gas as Singapore will consume this year.
Categories: LNG
(AP file photo/Grand Forks Herald, Eric Hylden)

Minn. regulators OK proposed pipeline expansion

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The Minnesota Public Utilities Commission unanimously approved plans Wednesday by Enbridge Energy to boost the capacity of its oil pipeline in the state.
Categories: Pipelines
Smoke rises from Unit 3 of the tsunami-stricken Fukushima Dai-ichi nuclear power plant in northern Japan (AP Photo/Tokyo Electric Power Co.)

TEPCO sees steam but no crisis at nuclear plant

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Steam or vapors appeared to be coming from a damaged reactor building at Japan’s tsunami-crippled nuclear plant Thursday, but the plant operator said radiation levels were steady.
Categories: Nuclear
(Houston Chronicle file photo)

Texas ranks last on green state list

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Texas has been ranked dead last in the “How Green Is My State?” assessment by MPH Online, ranking high for its friendliness to renewable energy, but losing points for air quality.
Categories: Environment
Interior Secretary Sally Jewell (Andrew Harrer/Bloomberg)

Interior chief defends Obama’s plan to stiffen drilling rules

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Interior Secretary Sally Jewell on Wednesday defended the Obama administration’s plans to stiffen requirements for oil and gas wells drilled on federal lands, saying it was important to establish baseline standards that apply nationwide.
Categories: Politics/Policy
(Photo: ToddMorris/Flickr)

Natural gas declines on forecast of heat wave’s end

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Natural gas futures declined in New York for the first time in four days on speculation that moderating heat will reduce demand for the power-plant fuel.
Categories: Electricity, Natural gas
(Photo: Mathijs B/Flickr)

Officials: 5 workers burned in oil field explosion

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The McKenzie County Sheriff’s Department says five men have been injured in an oilfield explosion near Alexander.
Copano Energy's Eagle Ford Gathering Freer Station, one of the assets Kinder Morgan gets in its $4 billion acquisition of the gas gathering and processing company. (Copano Energy)

Kinder Morgan reports higher second-quarter earnings

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Profit soared for pipeline giant Kinder Morgan Energy Partners in the second quarter of the year, with recent acquisitions helping it multiply its net income more than seven times from the same period a year ago.
Funny?  Sure.  Knowledgeable about hydraulic fracturing?  No...(Photo: imdb.com)

Commentary: “Celebrities Against Fracking”? Please…

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In a sea of valid facts and concerns coming from both the “pro” and “anti” hydraulic fracturing groups, I think we can all agree that in contrast celebrities provide the LEAST reliable frame of reference from which to carry on the discussion and create nothing but “noise” that prevents real progress from being made.
Valero Energy's Jean Gaulin Refinery in Levis, Quebec. (Valero Energy Corp.)

U.S. refinery demand rises to highest in eight years

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U.S. refineries used the most crude in almost eight years last week, draining supplies for the third straight time even as domestic production rose the highest level since 1990 and imports increased.
Categories: General
Archer’s Board of Directors has appointed Houston-based David King as chief executive officer. (Archer)

Archer appoints new CEO

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Archer Limited, a recently formed oilfield services company, has appointed ex-Halliburton executive David King as its new chief executive officer.
Categories: Oil field services