Archives for March 2017
Drilling permits suggest industry is recovering
The state of Texas approved almost 1,000 oil and gas drilling permits in February, as the industry responds to higher oil prices and slowly moves toward a recovery. The Railroad Commission of Texas, the state’s oil...
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Transocean to sell fleet of jack-up rigs for $1.35 billion
Swiss rig contractor Transocean has agreed to sell its fleet of jack-up rigs to Norwegian rival Borr Drilling for $1.35 billion. Borr Drilling said Monday it plans to buy 15 jack-up rigs, including five under...
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Prices fall on fears of U.S. drillers counteracting OPEC cuts
Oil fell as U.S. drilling continued to rise, undermining the potential for even an extended OPEC output-reduction deal to rebalance the market. Futures lost as much as 1.9 percent in New York after gaining 0.6...
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Fuel prices hold steady with struggling oil prices
Prices at the pump remain flat after a two-week stint of falling oil prices that kept fuel prices from rising. The Houston-area average for a gallon of regular unleaded gasoline still rose nearly half a...
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Paxton moves to block federal crackdown on natural gas storage sites
Texas Attorney General Ken Paxton is going to court to fight a new federal regulation requiring stricter safety standards on underground natural gas storage facilities. In a petition filed in the Fifth Circuit U.S. Court...
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