Fuel Fix

(Photo by Eddie Seal for Bloomberg News)

U.S. oil rig count jumps up by a dozen, the first increase in 2015

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The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.

U.S. oil rig count jumps up by a dozen, the first increase in 2015

on
(Photo by Eddie Seal for Bloomberg News)
The amount of U.S. rigs drilling for oil increased for the first time this year after 29 consecutive weeks of declines.
(AP Photo/Gerald Herbert, File)

BP to settle Deepwater Horizon claims for $18.7 billion

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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.
Categories: featured, Gulf oil spill

    Jeff Allyn, a derrick hand with Raven Drilling, pauses with a cup of coffee while drilling for oil in the Bakken shale formation on July 23, 2013 outside Watford City, North Dakota. (Andrew Burton/Getty Images)

    Shale drillers’ safety net is vanishing

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    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.
    Categories: featured, Shale
(AP Photo/Pat Sullivan)

More Eagle Ford pipeline expansion

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A joint venture of Kinder Morgan Energy Partners LP and Magellan Midstream Partners LP has entered into a long-term agreement to move Eagle Ford Shale liquids for Anadarko Petroleum Corp.
Categories: Eagle Ford, Pipelines
BPsign

Top officials leave BP oil spill claims office

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BP’s latest full-page newspaper ad suggests the departure of two senior officials who administered payments to victims of the 2010 Gulf of Mexico oil spill is evidence of “mounting problems” at the settlement program.

Former Occidental Petroleum Chairman and CEO Ray Irani.

Occidental agrees to pay former CEO $14M to settle termination

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Occidental Petroleum Corp., the largest oil producer in the contiguous U.S., agreed to pay former Chairman Ray Irani $14 million as part of a settlement for his separation from the company.
Categories: Legal issues, People
A contractor walks through a steel tube at the PacifiCorp Lake Side 2 natural gas power plant under construction in Vineyard, Utah. About 49 percent of U.S. households use natural gas for heating, according to data from the Energy Information Administration, the statistical arm of the Energy Department in Washington. (George Frey/Bloomberg)

Speculators ‘throwing money’ at natural gas on icy blast

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Hedge funds got more bullish on natural gas as a blast of cold air swept across the U.S., pushing prices to the highest level in more than two years.
Categories: Natural gas, Weather

More Eagle Ford pipeline expansion

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A joint venture of Kinder Morgan Energy Partners LP and Magellan Midstream Partners LP has entered into a long-term agreement to move Eagle Ford Shale liquids for Anadarko Petroleum Corp. Kinder Morgan Crude and Condensate LLC and Double Eagle Pipeline LLC, a 50-50 joint venture between Magellan Midstream Partners LP and Kinder Morgan Energy Partners, […]
Categories: Uncategorized
The Empire State tanker is one of five that Kinder Morgan plans to purchase from American Petroleum Tankers, part of a $1 billion deal that also includes four newly built vessels from State Class Tankers. (American Petroleum Tankers)

Kinder Morgan to buy tanker businesses for $1B

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Pipeline giant Kinder Morgan Energy Partners will spend nearly $1 billion to move into the tanker business after agreeing to buy two companies that ship oil between U.S. ports, the companies said Monday.
Categories: Crude oil, featured, Offshore
(Photo: Marcellus Protest/Flickr)

Public weighs in on Illinois’ tough fracking law proposal

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The public hearings have ended, but state officials said there’s still time to submit public comments on proposed rules for the high-volume oil and gas drilling known as hydraulic fracturing.