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.
( Johnny Hanson / Chronicle )

Rig count tumbles again

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Categories: Crude oil, featured

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
A drilling rig aims for oil in the Bakken Shale near Watford City, N.D. (AP Photo/James MacPherson)

Analyst: The great US energy boom is already stagnating

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Last year was one for the ages for American oil production, as production grew a record 14%. 2013 has been a different story.
Categories: Production, Shale
(shankool007/Flickr)

Alaska pushing new plan for ANWR oil research

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Alaska Gov. Sean Parnell on Tuesday escalated his fight with the Obama administration over potential oil drilling in the Arctic National Wildlife Refuge, by formally submitting a plan to conduct seismic research in the region.
Categories: Arctic
The Energy Information Administration published a new interactive hurricane map. (Source: EIA)

Map shows hurricane progress toward oil assets

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As hurricane season is kicking into full gear, the U.S. Energy Information Administration released an interactive map that details the real-time progress of storms in relation to energy installations.
Categories: Gulf of Mexico, Weather
Construction is set to start soon on the Permian Rail Park, just west of Big Spring.

Crude by rail gets a boost in the Permian Basin

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The developers of San Antonio’s Mission Rail Park, which will serve the Eagle Ford Shale, said Tuesday they are starting construction on a rail park in West Texas. The Permian Rail Park, located between Big Spring and Midland, will be in the heart of the Wolfcamp and Cline Shale plays.
Categories: Midland, Transportation
Searchers dig through the rubble for victims of the inferno in Lac-Megantic, Quebec, Monday, July 8, 2013, as  firefighter continue to hose down tanker cars to prevent explosions.  A runaway train derailed igniting tanker cars carrying crude oil .  (AP Photo/ THE CANADIAN PRESS,Ryan Remiorz)

Rail disaster underscores risks in oil transportation

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A deadly crude oil train disaster in Canada has brought renewed scrutiny to the growing use of rail to carry oil – including hundreds of thousands of barrels in Texas – and prompted worries that the higher volume will mean more accidents.
Categories: Canada, Crude oil, featured
James Watson, director of the Bureau of Safety and Environmental Enforcement, speaks at the 2012 Offshore Technology Conference Tuesday, May 1, 2012, in Houston. ( Brett Coomer / Houston Chronicle )

Top offshore drilling regulator stepping down

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The nation’s top offshore drilling regulator is set to step down later this year, just as the federal government drafts new rules to boost the safety of coastal oil exploration.
Workers move a section of well casing into place at a Chesapeake Energy natural gas well site near Burlington, Pa. (AP Photo/Ralph Wilson, File)

Opinion: U.S. frackers can save millions of Chinese lives

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For years Chinese have been told that the blinding, sooty haze choking Beijing and other cities is the price of progress. All rapidly industrializing economies have endured appalling levels of pollution, officials say. They insist that the only alternative is to slam the brakes on China’s economy and consign tens of millions to poverty. Yet China’s appetite for energy is literally killing its people.
Morganton Public Safety officers speak with protesters on moving from the back gate during a protest outside of the Momentive resin plant, Monday, July 8, 2013, in Morganton, N.C. Dozens of environmental activists blocked a chemical plant Monday to protest against the company's sale of products used in the natural gas drilling process called hydraulic fracturing, or fracking. (AP Photo/The News Herald, Mary Elizabeth Robertson)

NC chemical plant blocked in anti-fracking protest

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Twelve activists who blocked a North Carolina chemical plant were arrested in a protest against the company’s sale of products used in the natural gas drilling process called hydraulic fracturing, or fracking.
(Photo: Steve Snodgrass/Flickr)

Engineer warns of problems at Ala. nuclear plant

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A Tennessee Valley Authority engineer says problems at the largest nuclear plant in Alabama have been worse than what federal regulators have reported.
Categories: Nuclear
US-OSHA-Logo

3 firms face fines in Parachute spill cleanup

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Federal regulators have proposed fines for a Williams Co. contractor and subsidiary following a natural gas liquids leak that was discovered in March near Parachute.
People watch relief operations on July 7, 2013 in Lac-Megantic, Quebec, Canada, one day after a train derailment and subsequent explosion and fire.   Five bodies of victims have been recovered in Quebec from the catastrophic derailment of an oil-laden cargo train, but 40 people are missing and the toll is expected to rise, Canadian officials said.      (AFP PHOTO /  François Laplante-DelagraveFrançois Laplante-Delagrave/AFP/Getty Images)

Death toll grows in Canada oil train accident

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Hazardous conditions hindered firefighters’ attempts Monday to search for some 40 people still missing after a runaway oil tanker train exploded over the weekend, killing at least five people, officials said.
Categories: Accidents, Pipelines
(Karen BLEIER/FILESKAREN BLEIER/AFP/Getty Images)

Energy companies dominate Fortune Global 500

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Energy corporations dominate this year’s Fortune Global 500 list of the largest corporations in the world by revenue, with China’s oil and power giants rising in the ranks.
Categories: Finance/Earnings