Fuel Fix

Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)

A single oil rig was shut down last week, extending six month decline

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As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.

A single oil rig was shut down last week, extending six month decline

on
Rigs stacked at a business 20 miles west of Farm-To-Market Road 1788 photographed Tuesday, Feb. 24, 2015. (AP Photo/Reporter-Telegram, James Durbin)
As the price of oil seemingly began to stabilize for now near $60 a barrel, the U.S. oil rig count slowed its pace of decline down to a crawl. The number of U.S. oil rigs is now at 659, according to Baker Hughes data, after dropping by eight oil rigs a week prior.
Original byline: Jim Blecha/

Vanguard Natural Resources scoops up smaller Houston rival for $474 million

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The most recent deal comes on the heels of Vanguard’s announcement in April that it will acquire LRR Energy LP for more than $250 million.
Categories: Crude oil, Deals, featured, Shale

RBS plans partial float of US unit

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A partial float of Citizens in two years’ time could raise up to £2bn for RBS, which, like other UK banks, needs to find new capital
Categories: Uncategorized

Silicon Valley in immigration reform call

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A coalition of entrepreneurs, venture capitalists and social media experts are launching a campaign for comprehensive immigration reform
Categories: Uncategorized

BP stuck in holding pattern

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The oil company’s underlying business simply isn’t growing, and the promise of improved profitability remains just that – a promise
Categories: Uncategorized

Minister rejects anti-France ‘falsehoods’

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Firebrand industry minister hits back at ‘negative campaign’, pointing to ‘a tradition of welcome for foreign companies that goes back a long way’
Categories: Uncategorized

Kuroda emerges as BoJ frontrunner

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Prime minister Shinzo Abe is set to make a final decision on the nomination in the coming days, having consulted with opposition parties
Categories: Uncategorized
Sunlight illuminates a lingering oil slick off the Mississippi Delta on May 24, 2010. (NASA Goddard Photo and Video/Flickr)

Feds: BP its own worst enemy in civil trial

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BP’s own statements, and analyses prepared by people it hired, may make it difficult to defend itself against billions of dollars more in penalties related to the 2010 Gulf of Mexico oil spill. As a civil trial is set to get under way in federal court Monday in New Orleans over a web of litigation related to the disaster, the U.S. government believes it has an ace in the hole – the British oil giant itself.
Categories: General, Gulf oil spill
A drilling site in the Haynesville Shale. (James Nielsen/Houston Chronicle file photo)

West Texas shale could dwarf Eagle Ford

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Texas is awash in oil and gas, with rigs proliferating from the Permian Basin to the Haynesville Shale. Now, another shale play in West Texas is causing a stir, with early estimates of recoverable reserves at 30 billion barrels of oil.
Categories: Eagle Ford, Shale

Pope delivers his final Sunday address

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Benedict’s last days in office have been overshadowed by reports that decision to step down was motivated by scandals and conspiracies within the city state
Categories: Uncategorized

Tech Talk – Thoughts On the Precautionary Principle

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As Michael Brander tells it in his book on the Scottish Highland Regiments, the Scottish Highlands produced, between 1740 and 1815, men for some 86 Highland Regiments who travelled around the world to strengthen the British Empire. But towards the end …
Categories: Coal, Europe, Wind

Abertis eyes sale of airport operations

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The Spanish toll road group considers offloading some of its worldwide airport portfolio as it aims to ride out economic turbulence
Categories: Uncategorized
(Photo: James Nielsen, Houston Chronicle)

Supreme Court won’t hear pipeline case

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The Texas Supreme Court denied LaSalle Pipeline LP’s request to review a $605,000 jury award to a Texas landowner when jurors agreed that his entire family ranch — not simply the portion the pipeline itself traverses — would be devalued by the presence of a pipeline.
Categories: Legal issues, Pipelines
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Life on the shale

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No one in Karnes County, Texas have grasped the implications of Conoco-Phillips’ secretive decision to drill a deep, expensive well into the mysterious formation known as the Eagle Ford Shale.
Categories: General

Banksy mural withdrawn from sale

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The removal of Banksy artwork from a wall in a London street outrages international art lovers and prompts an international investigation
Categories: Uncategorized
A beachgoer in June 2010 enjoys a morning walk in Pensacola, Fla., as crews work to clean up oil from the Deepwater Horizon spill. Some workers allege they were sickened by chemicals used to clean up the spill. Photo: Billy Smith II / Houston Chronicle

U.S. Justice Department, states prepare offer for BP

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The U.S. Justice Department and several Gulf of Mexcio states have prepared a last minute offer to BP to resolve civil claims related to the 2010 Gulf of the Mexico oil spill as a trial over the disaster nears, according to people briefed on the talks.
Categories: General

Osborne vows to press on with austerity

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Loss of triple A status unlikely to impact spending but damaging for chancellor, who pinned his economic credibility on maintaining the rating
Categories: Uncategorized