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.
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.
BP is leading an industry-wide push to develop technology that can retrieve oil from formations that are so deep under the sea floor, and under such high pressure and temperature, that conventional equipment would melt or be crushed by the conditions.
Texas wind power producers earned far more money from the federal production tax credit than the state paid out to support the renewable energy policy, according to a study by the Institute for Energy Research released this week.
Nearly 60 House Democrats are pleading with Interior Secretary Sally Jewell to halt all Arctic energy development until the federal government writes new rules for the activity. Separately, conservationists recommended the Obama administration exclude four areas from a possible 2016 sale of Arctic drilling leases.
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