FuelFix
Marathon Oil to buy Permian Basin acreage for $700 million
Marathon Oil Corp. says it will pay $700 million for 21,000 net acres in the Northern Delaware Basin in New Mexico, its second deal in the region in less than two weeks. The Houston driller...
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Private equity firms partner to find oil patch deals
Three Houston private equity firms have teamed up to comb the oil patch for small but lucrative investment deals left behind by banks and larger firms. The private equity firms announced Tuesday they’ve formed an...
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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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