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

Dell results underpin buyout offer

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Share price hovers just above the $13.65 a share level that founder Michael Dell and private equity firm Silver Lake have agreed to pay
Categories: Uncategorized
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Specialists working to kill Apache well in Gulf

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Drilling specialists have been pumping heavy fluids into a gas well 50 miles off the Louisiana coast in a bid to halt natural gas moving among underground formations at the site.
Categories: General

Wall Street rises to fresh five-year high

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European equities firm after a stronger-than-expected survey of German economic sentiment, partially countering recent soft data from the region
Categories: Uncategorized

Apple’s internal systems hacked

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Systems were compromised by a vulnerability in Oracle’s Java software, about which the US Department of Homeland Security warned last month
Categories: Uncategorized

Indian iron ore sector faces torrid time

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Production bans and higher export tariffs have pushed India’s iron ore exports to the point of collapse, forcing miners to hunt abroad for resources
Categories: Uncategorized

China’s foreign oil output surges

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The International Energy Agency calculates China’s national oil companies will produce 3m barrels a day abroad in 2015, double their 2011 overseas output
Categories: Uncategorized
(StockMonkeys.com/Flickr)

Refinery troubles push gas price to February record

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U.S. consumers facing the highest gasoline pump prices ever for February may see further increases as global crude oil futures climb and down refineries reduce fuel supplies.
Categories: Refining, Transportation

Blavatnik hits out at ‘arrogant’ JPMorgan

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The case, which is awaiting a verdict, is one of the few brought by individual investors alleging wrongdoing from banks during the financial crisis
Categories: Uncategorized

Big Anglo-French buyout planned

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Appetite for deals revives as move by BC Partners and CVC for Elior looks set to be biggest buyout in continental Europe since Lehman collapse
Categories: Uncategorized

EU banks face strict transparency rules

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European parliament presses for country-by-country tax and profit breakdown along with strict curbs on bonuses as part of the law implementing the Basel III rules
Categories: Uncategorized

Heinz deal puts 3G in limelight

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Brazilian private equity group 3G Capital is in the limelight with its Heinz deal
Categories: Uncategorized

Obama takes aim at ‘meat cleaver’ cuts

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President issues warning over $1.2tn in automatic spending cuts as co-chairs of the bipartisan debt commission present plan to avert automatic sequester
Categories: Uncategorized

Mining industry hit by ‘capital strike’

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Funds raised by companies fell more than 25% last year from 2011, the first drop since the 2008-09 global financial crisis, according to Ernst & Young
Categories: Uncategorized
(Image courtesy Alaska Wilderness League)

Activists target Obama with anti-Arctic drilling ad

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Arctic drilling and a climate change crusade don’t mix, environmentalists are asserting today in half-page advertisements in USA Today aimed squarely at President Barack Obama.
Categories: Arctic

Immigration law fallout hits Alabama

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Businesses in northern Alabama are reeling after an immigration law passed in 2011 drove away thousands and altered daily life
Categories: Uncategorized