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
BP CEO Bob Dudley speaks at an energy conference in Houston. (Johnny Hanson/Houston Chronicle)

BP asks court to suspend seafood payments for fraud probe

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BP Plc asked a U.S. judge to stop payments in the $2.3 billion seafood-industry portion of its settlement over the 2010 Gulf of Mexico oil spill, pending an investigation of a fraud claim against a plaintiffs’ attorney.
(AP Photo/Cyprus Press and Information Office, File)

Noble Energy announces $4.8B capital plan for 2014

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Noble Energy is planning to plough the lion’s share of its $4.8 billion planned capital investments in onshore plays in 2014, aiming to continue its double-digit production growth in these prolific unconventional fields both in the US and abroad.
Categories: Finance/Earnings

Sen. Robert Menendez, D-N.J., listens during a congressional hearing. (AP Photo/Charles Dharapak)

Senator to Obama: Don’t give in to Big Oil on exports ban

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Democratic Sen. Robert Menendez is warning the Obama administration not to give in to oil industry demands and lift a decades-old ban on crude exports. Menendez insists that easing the crude export ban would be “a win for Big Oil,” but would “hurt American consumers.”
Categories: Markets, Politics/Policy
FRACKING WELL 01 JL

Shale well depletion raises questions over US oil boom

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Hydraulic fracturing creates an initial production spike that soon turns south. Behind the headlines boasting of a U.S. oil boom, producers have been grappling with rapid production declines at aging shale-play wells. The only answer: drill more and more wells.
Thilde Jensen of Truxton, N.Y, protests against natural gas drilling in New York state during a rally in Albany, N.Y., on Monday, Jan. 25, 2010.  (AP Photo/Mike Groll)

NY gov could delay fracking ban decision until after election

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Gov. Andrew Cuomo on Monday said he would decide whether New York should allow hydraulic fracturing for natural gas by Election Day next year — maybe.
(StockMonkeys.com)

Billionaire pushes California lawmakers for oil tax

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Billionaire environmentalist Tom Steyer said Monday that he will launch a campaign next year urging California lawmakers to approve taxes on companies that extract oil in the state.
(Image: Fotolia)

State regulators OK NV Energy sale to MidAmerican

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Nevada utility regulators gave their approval Monday for the sale of the state’s largest electric utility to a company controlled by billionaire Warren Buffett.
Categories: Deals, Electricity