CVR Energy on Thursday reported that higher profit margins and federal tax reform substantially boosted its earnings last year. The Sugar Land refiner and petrochemicals maker reported $234.4 million in annual profits, up from $24.7 million in 2016. Annual revenue increased to nearly 6 billion, up from $4.8 […]
The federal government said Tuesday it’s investigating the death of an offshore oil and gas worker on a Gulf of Mexico platform operated by Houston’s Talos Energy. The employee, who’s identity wasn’t immediately revealed, died Saturday after an accident while he was removing out-of-service fire suppression equipment on the […]
US Rig Count is 1,076 this week (+6). Permit count is 1,070 (-178). 39 rigs waiting to spud.
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WASHINGTON – A bankrupt Texas clean coal developer has been cited by the Department of Energy’s Inspector General for misspending $2.5 million in federal funds. Summit Texas Clean Energy LLC announced plans in 2008 to develop a coal plant in West Texas that would capture 90 percent of […]
China has entered its first long-term contract to import U.S. liquefied natural gas, following a push by the Trump administration to open the rapidly growing market to U.S. suppliers. CheniereEnergy Inc., LNG +1.57% which has already exported LNG to China, said Friday that it had signed two purchase […]
Last Friday Feb. 2, oil prices were right at $66 a barrel. In less than one week prices have plunged nearly $5 and will close around $60 a barrel today. Leaving many of us scratching our heads wondering what’s going to happen next. Are the recent crazy swings […]
Irving-based Pioneer Natural Resources announced Tuesday that it was selling its non-Permian Basin acreage and infrastructure to focus its money and attention on what’s sometimes called a “Super Basin.” A large chunk of the sale — 70,000 acres — is in South Texas’ Eagle Ford shale, which includes both oil […]
The U.S.’s Permian Basin is looking like Saudi Arabia, with as much as 1 million barrels of spare oil capacity ready to go into production, according to Nansen Saleri, former head of reservoir management at Saudi Aramco, the world’s largest crude exporter. Oil producers in the Permian Basin […]
HOBSON (Karnes County TX) – A worker continues to recover from burns after officials say he was injured when his truck caught fire at a tank battery off Farm-to-Market Road 81, which is operated by 1776 Energy Operators, LLC. According to Texas Railroad Commission (RRC) spokesman Ramona Nye, […]
