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

BP widens Technip Angola offshore support role

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BP Angola has awarded Technip a five-year contract for engineering and modification services for FPSOs in blocks 18 and 31 offshore Angola.
Categories: Offshore

Northern Offshore returns to UK North Sea

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ADTI has contracted Northern Offshore’s jackup Energy Endeavour for a one-well program in the UK North Sea.
Categories: Offshore

Vatican reaches out in Latin America

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Latin America accounts for some 40% of the world’s 1.2bn Catholics, yet spiritual the ‘market share’ is less than it appears, which has forced the Church to act
Categories: Uncategorized

Chairman aims to put Nascar back on track

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Brian France hopes that star driver Danica Patrick and a new-generation cars will end a run of poor ratings, falling ticket sales and patchy sponsorship in the US
Categories: Uncategorized

BHP Billiton appoints CEO

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Marius Kloppers will retire as CEO and a director of BHP Billiton on May 10, and will retire from the group on Oct. 1, 2013.
Categories: Offshore

US new home starts hit four-year high

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An improving jobs market, record low interest rates and the bottoming out of home prices spur demand, as groundbreakings climb to 2008 levels
Categories: Uncategorized
A fiber optic accelerometer, used to measure vibration, is displayed during a tour of Halliburton's Fiber Optics Facility in Houston. ( Michael Paulsen / Houston Chronicle )

Fiber optic tech providing clearer downhole data

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New fiber optic technology is removing some of the uncertainty in drilling, opening the door for well operators to have up-to-the-minute, detailed data about a well’s contents, temperature, pressure and even sound.
Categories: General

UTEC to support pipelay offshore northwest Australia

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UTEC has contracted to supply survey support to the Greater Western Flank pipelay project offshore Australia.
Categories: Offshore

Toll Brothers hit by lower home prices

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New orders jumped 49 per cent to 973 homes, but the average selling price for those properties fell 7.5 per cent to $631,000 from a year ago
Categories: Uncategorized

Drumbeat: February 20, 2013

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2013 gasoline prices could hit record highs
After sending consumers into sticker shock the past month, how much more can gasoline prices climb?

Another 20 to 50 cents a gallon — a level that could propel the cost of gasoline, now $3.75 a gallon, to…

Categories: Uncategorized

CGG embarks on central North Sea 3D seismic survey

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CGG has begun a 3D multi-client seismic survey in the Central North Sea.
Categories: Offshore

Petrobras starts offshore oil production from Baúna field

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Petróleo Brasileiro S.A. (Petrobras) (NYSE:PBR) has initiated operations of the FPSO Cidade de Itajaí to start oil production at Baúna field in block BMS-40 offshore Brazil in the southern Santos basin.
Categories: Offshore
Jacob Garza of Cheapeake Energy pours a chemical mixture used in the hydraulic fracturing  process at a Chesapeake site in South Texas' Eagle Ford Shale (Photo: John Davenport/San Antonio Express-News)

Coming soon: A searchable FracFocus.org

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Regulator says FracFocus will soon be searchable, but the “trade secret” exemption remains.
A drilling rig in Pavillion, Wyo., used to drill a deep water well for testing. (Photo: EPA).

EPA Region 8 chief resigns, GOP cites email probe

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A regional administrator of the U.S. Environmental Protection Agency who oversaw investigations that involved hydraulic fracturing in Wyoming and asbestos contamination in Montana is resigning.
Categories: Environment
(Jerry Lara/San Antonio Express-News)

Eagle Ford oil output surges in December

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EOG Resources Inc. and other drillers increased production in Texas’s Eagle Ford shale formation by 68 percent in December compared with the same period a year earlier.
Categories: Crude oil, Eagle Ford