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

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

Getco profits drop 82% on weak US market

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High-frequency trading firm says core business of market-making in US equities suffered a sharp slowdown due to poor market conditions
Categories: Uncategorized

Vodafone eyes bid for Kabel Deutschland

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UK-based mobile group has been linked with various European cable operators because it could gain access to their fibre networks
Categories: Uncategorized
Calpine's Magic Valley project near Edinburg, Texas (Photo: Calpine)

Calpine returns to a profit in 4th quarter

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Independent power producer Calpine returned to a profit in its fourth quarter, partly helped by some lower expenses and an income tax benefit.
Categories: General
A crew works on a Marcellus Shale drilling rig to produce natural gas. (AP Photo/Keith Srakocic)

NY health chief: Longer gas-drilling study needed

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Environmental groups praised state regulators for delaying a decision on shale gas development until a more in-depth health study is finished, but landowners eager to reap profits from their mineral resources were frustrated at another delay in a rulemaking process that has kept drilling on hold for 4 1/2 years.
Categories: Natural gas
A man walks back to his temporary housing unit outside of Willisburg, N.D. With what many are calling the largest oil boom in recent North American history, temporary housing for the huge influx of workers, known as "man camps, " now dot the sparse North Dakota landscape. (AP Photo/Gregory Bull)

Inside North Dakota’s largest man camp

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The North Dakota winter is relentless. Air temperatures hover around zero degrees Fahrenheit. Yet that’s easy to forget here, inside a network of steel mobile homes opened in 2011 in the state’s northwestern corner. Guys walk around in flip-flops, shorts and T-shirts. They eat ice cream at regularly available opportunities and then sweat it off on a treadmill.
Categories: Crude oil, Natural gas
Statoil's Polar Pioneer drills in the Skrugard field in the Barents Sea. (Photo: Harald Pettersen/Statoil)

Statoil abandons Kazakh Caspian oil project after 7 years

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Statoil ASA is giving up a Kazakh offshore block after Norway’s biggest energy producer spent about seven years negotiating to start exploration, the latest international defection from a Caspian Sea project.
Categories: Crude oil, Natural gas
(Photo: Tullow Oil)

Tullow CEO says focus on exploration over developing oil finds

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Tullow Oil Plc, the worst-performing oil stock in the U.K.’s benchmark index, will maintain its focus on exploration rather than developing existing discoveries.
Categories: Crude oil, Offshore
(Cody Duty / Houston Chronicle)

Sierra Club chief to risk arrest over oil pipeline

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Prominent environmental leaders, including the head of the Sierra Club and the organizer of a public campaign to oppose the Keystone XL pipeline, are planning to risk arrest Wednesday at a protest outside the White House.
Categories: Crude oil, Offshore
(AP Photo/Gerald Herbert, File)

Palazzo wants offshore rig demolitions halted

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Congressmen from Mississippi and Alabama want the Department of Interior to stop demolishing inactive offshore oil rigs until more study details the dangers to Gulf of Mexico fish species.
Categories: Crude oil, Offshore
An ERCOT worker mans a desk in the Texas electric grid manager's Austin control room. (Photo: ERCOT/Tom Reel)

Natural gas glut leads to tough times for power generators

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A glut of natural gas available to generate power has forced down wholesale electricity prices in deregulated U.S. markets, but the effect is less acute in Texas because of higher demand and tight capacity.
Categories: Electricity

SocGen unveils shake-up amid losses

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French bank unveils plans to split its investment and retail banking businesses as it reports losses for the final quarter of 2012
Categories: Uncategorized

Obama strikes unapologetically partisan tone

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US president rejected the largely Republican narrative of fiscal crisis, making the fiscal divide between the parties look even sharper than ever
Categories: Uncategorized