Archives for October 2016
Permian pumped at record rates
Oil production in the Permian Basin keeps growing as other U.S. shale plays falter. The region spanning West Texas and New Mexico will produce more than 2 million barrels of oil a day next month...
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Luminant cutting 132 Texas jobs with mine closure
The state’s largest power generator, Dallas-based Luminant, said it will eliminate 132 jobs in December as it shutters its Oak Hill mine south of Longview in East Texas. As coal power plants continue to struggle...
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General Electric cutting 255 Houston jobs; keeping Channelview complex open
GE confirmed in September that it planned to shut down much of its turbine repair operations at its East Houston complex, but GE at the time would not say how many of its more than...
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Dril-Quip acquires longtime manufacturer TIW Corp. for $143 million
Dril-Quip Inc., an offshore drilling equipment manufacturer, has agreed to buy fellow Houston-based manufacturer TIW Corp. for $143 million. TIW Corp. has been in business for 100 years and builds liner hanger systems, or equipment used...
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Iran offers 50 oil and gas fields to foreign bidders
TEHRAN, Iran — Iran’s national oil company said Monday that it has offered 50 oil and gas fields to international bidders, the first time it has done so since last year’s landmark nuclear deal with...
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