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

Salamander starts latest oil and gas search offshore Indonesia

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The semisubmersible Ocean General has spudded Salamander Energy’s latest exploratory well on the South East Sangatta PSC offshore Indonesia.
Categories: Offshore

TEN offshore oil development plan under review by Ghana’s government

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Tullow Oil estimates capex of $4.5 billion for the development of the TEN project offshore Ghana.
Categories: Offshore

Newfoundland yard starts work on Hebron platform base

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Kvaerner says construction is under way of the gravity base structure (GBS) for ExxonMobil’s Hebron platform, following refurbishment of the Bull Arm site in Newfoundland and Labrador.
Categories: Offshore

Vietnam TGT partners to drill offshore on southern fault block

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SOCO International says the Te Giac Trang (TGT) field offshore southern Vietnam continues to perform as expected, currently delivering 52-55,000 b/d of oil.
Categories: Offshore

Drilling under way on Goliat offshore Norway

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Production drilling has started on the Eni-operated Goliat oil field development in the Barents Sea.
Categories: Offshore

Dockwise, Boskalis boards reach merger agreement

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Dockwise’s board of directors is backing the company’s merger with Boskalis and have recommended acceptance of Boskalis’ latest share price offer.
Categories: Offshore

Cyprus confirms offshore block award

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Delek Drilling and Avner Oil Exploration have signed a production-sharing contract with Noble Energy for block 12 offshore Cyprus.
Categories: Offshore

Maersk extends North Sea drilling link with Plexus

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Maersk Oil North Sea UK has exercised two one-year extension options with Plexus Holdings.
Categories: Offshore

US retail sales growth slows

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Sales fall at car dealers, drug stores, home furnishing shops and clothing outlets as US consumers feel the pinch from end of a payroll tax holiday
Categories: Uncategorized

BP claims it now leads the way on safety

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Greater investment and new procedures for training and offshore drilling are aimed at making the oil group ‘the Harvard of well control’
Categories: Uncategorized

Switzerland imposes capital buffer on banks

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First big financial centre to force banks to hold extra capital to calm overheating parts of the economy in the face of a continuing housing market boom
Categories: Uncategorized
A WWL-TV investigation into the Grand Isle Shipyard's use of Filipino workers. (WWL-TV)

Black Elk Energy contractor tied to human trafficking

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The government has now granted some of the workers amnesty and designated them as victims of human trafficking.
Categories: Uncategorized

Drumbeat: February 13, 2013

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Diesel shortage pushes Egyptians to the brink
Diesel supplies are drying up as a cash-strapped government struggles to cap a mounting bill for subsidies it has promised the IMF it will reform to secure an elusive $4.8 billion loan desperately needed t…
Categories: Uncategorized

Activists keep tech sector on its toes

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Majority of activist positions have made money, reflecting the rapidly changing nature of the tech business and their lack of takeover defences
Categories: Uncategorized

Deere reports record earnings

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The drought in the Great Plains saw new sales of farm equipment, including John Deere tractors, rise 18 per cent in the first quarter
Categories: Uncategorized