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

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
(AP photo)

NRG Yield shares jump in IPO

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The initial public offering for a subsidiary of NRG Energy Inc. got off to an electric start on Wednesday, jumping more than 24 percent in morning trading.
Categories: Electricity
Shell's Auger tension-leg platform in the Gulf of Mexico. (Photo: Shell)

Shell shuts in giant Gulf platform for well hookups

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Shell announced Wednesday it had temporarily halted operations at its oldest tension-leg platform in the Gulf of Mexico as it nears the final stage of a $2.5 billion project to drain deep oil and gas reserves at the site.
A boat is surrounded by oil near the site of the Deepwater Horizon accident in June 2010. (Smiley N. Pool / Houston Chronicle)

Judge sets hearing on BP request to halt oil spill payments

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A federal judge has scheduled a hearing for Friday on BP’s request for an injunction to temporarily halt all payments from its multibillion dollar Gulf oil spill civil settlement.
Categories: Gulf oil spill

Drumbeat: July 17, 2013

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Senators Grill Refiners Over High Prices Amid Oil Boom
Lawmakers grilled representatives of oil producers and refiners seeking an explanation for a rise in gasoline prices at the pump amid a boom in U.S. oil production.

Senators at an Energy and Natur…

Categories: Uncategorized
A massive fire from a PG&E pipeline explosion roars through a mostly residential neighborhood in San Bruno, Calif. in Sept. 2010. (AP Photo/Paul Sakuma, File)

Calif. seeks record fine in pipeline explosion

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California regulators on Tuesday called on Pacific Gas & Electric Co. to pay at least $300 million in fines in connection with a deadly 2010 gas pipeline blast in what they said would amount to the largest fine ever levied by the state Public Utilities Commission.
Categories: Legal issues, Pipelines
(Bill Montgomery/Houston Chronicle)

Power plants face ‘collision course’ with water, researchers say

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U.S. power producers must reduce their dependence on water or they may be forced to lower output as drought and other extreme weather events curtail their access to water supplies, researchers said today.
Categories: Electricity
(StockMonkeys.com)

Barclays pledges to fight US energy fine

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Barclays has vowed to fight a fine by U.S. regulators, who allege the bank manipulated the electricity prices in California and other western states to make money off of trades.
Categories: Legal issues
(Image: Fotolia)

NM reaches $920K settlement with gas processor

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State environment officials have reached a settlement with the operator of a natural gas processing plant in southeastern New Mexico over alleged pollution violations.
BPsign

BP asks court to suspend spill payouts pending investigation

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BP is asking a federal court to suspend payments under a settlement arising from the 2010 Gulf oil spill pending completion of an independent probe into the claims administration process.
Categories: Accidents, Legal issues
Supporters of a successful effort in 2012 to renationalize Argentina's largest oil company, YPF, wave flags. (AP Photo/Natacha Pisarenko)

Chevron, YPF to spend $1.2B to develop shale resources in Argentina

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Chevron and Argentinian oil firm YPF and inked a deal to spend $1.2 billion to further develop shale oil and gas resources in the Vaca Muerta formation in Argentina.
Categories: Latin America, Shale
A massive fire from a PG&E pipeline explosion roars through a mostly residential neighborhood in San Bruno, Calif. in Sept. 2010. (AP Photo/Paul Sakuma, File)

Calif. seeks record fine in pipeline explosion

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California regulators on Tuesday called on Pacific Gas & Electric Co. to pay at least $300 million in fines in connection with a deadly 2010 gas pipeline blast in what they said would amount to the largest fine ever levied by the state Public Utilities Commission.
Categories: Accidents