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.

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

Drumbeat: June 28, 2013

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What natural gas glut? Just export, baby, export!
Drill, baby, drill! Energy companies are doing that all over America right now, sparking fears of a natural gas glut.

But the experts are not concerned, saying demand — especially from overseas — is …

Categories: Uncategorized
Production of biomass-based diesel fuel has begun at the Diamond Green Diesel plant, where green tanks that store animal fat are shown. The plant, a joint venture of Valero Energy Corp. and Darling International Inc., produces renewable diesel fuel that Valero will market. The plant is located at Valero's St. Charles refinery in Louisiana, (bottom right) where it has access to a rail line and docks. (Darling International Inc.)

Valero plant will produce diesel from animal fat

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Valero Energy Corp.’s investments in renewable fuel moved forward Thursday with the completion of a plant that soon will produce renewable diesel fuel from fat.
Categories: Biofuels, featured
Chevron's Tahiti platform (Simone Sebastian/Houston Chronicle)

Deep-water drilling expansion will strain workforce, study says

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Global spending on deep-water wells will surge to $114 billion by 2022, compared to $43 billion last year, creating a critical need for offshore rig workers, according to a new analysis by Wood Mackenzie.
CNPC’s largest overseas acquisition will deepen Kazakhstan’s relationship with China as the start of production at Kashagan, eight years late and at double the original cost, boosts oil exports. Nariman Gizitdinov/Bloomberg

CNPC said set to buy $5 billion stake in largest Kazakh field

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China National Petroleum Corp (CNPZ). plans to pay about $5 billion for a stake in Kazakhstan’s biggest oil field, people with knowledge of the matter said.
Categories: Crude oil, Offshore
Workers adjust piping during a natural gas hydraulic fracturing  operation at an Encana Oil & Gas Inc. drilling site in western Colorado. (Brennan Linsley/AP)

Methane scrutiny in Obama climate plan may cost drillers

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Riding shotgun in a Toyota 4Runner rigged up with a carbon-fiber pipe and a spectrometer, Duke University researcher Rob Jackson trolled through Washington searching for evidence that natural gas is not quite the climate champion President Barack Obama claimed this week.
A badge on the back of the Volkswagen Jetta TDI, a diesel vehicle that gets better fuel economy than a gasoline-powered Jetta. (Ross Dettman / AP Images for Volkswagen)

Study: Diesel vehicle owners save money on fuel, resale costs

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It costs less to own a diesel vehicle than a gasoline-powered one, according to a study that looked at new car prices, fuel economy and resale values.
Categories: Transportation
President Barack Obama (AP file)

Fracking critics unhappy with Obama climate speech

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President Barack Obama’s speech this week on climate change forcefully rejected some key arguments made by opponents of natural gas fracking, upsetting some environmental groups that otherwise back his climate goals.
(Photo: Ano Lobb/Flickr)

NM farmers selling water to oil and gas developers

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With a scant agriculture water supply due to the prolonged drought, some farmers in Eddy County with supplemental wells are keeping bill collectors at bay by selling their water to the booming oil and gas industry.
Categories: Oil field services

‘Peak Car’…It’s All Downhill From Here

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There have been a number of recent research reports addressing the notion of ‘Peak Car’ – whether driving has peaked per person in the US. So here are a bunch of interesting tidbits and nuggets I have gleaned from the reports ‘A New Direction‘ and ‘Has Motorization in the US Peaked?’, as well as an […]
Categories: Gasoline
Divers and a fish swim by a rig that has become an artificial reef in the Gulf of Mexico. (Chris Ledford / Texas Parks and Wildlife Department)

Feds hope more rigs will become reefs with policy revisions

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The popular rigs-to-reefs program, which allows operators to leave non-producing platforms deep in the Gulf as a makeshift home for underwater creatures, has been revised to encourage more operators to donate their rigs.
Categories: Gulf of Mexico, Offshore
(Bill Montgomery/Houston Chronicle)

Obama nominates Colo. energy regulator to FERC

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President Barack Obama has nominated the former head of Colorado’s Public Utilities Commission to chair the Federal Energy Regulatory Commission.
A view of the facility at Shell's Ursa project in the Gulf of Mexico. Shell is the operator on the project, but working partners include BP, Exxon Mobil and ConocoPhillips. (Photo: Shell)

House advances plan to unleash drilling on US-Mexico maritime border

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The House of Representatives advanced two items on the oil industry’s wish list Thursday, by passing legislation that would unleash drilling in the Western Gap area of the Gulf of Mexico and waive new financial reporting requirements on companies’ foreign dealmaking.