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Is bankruptcy next for Sabine Oil & Gas?

After its recent departure from the New York Stock Exchange (NYSE), Houston-based Sabine Oil & Gas is now dealing with default claims, the Houston Business Journal reports. Issues have continued to arise after Sabine’s merger with Colorado-based Forest Oil when shareholders officially approved the merger last December. Sabine has yet to file its annual report, although the company says it ...

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Are oilfield thefts on the rise?

The Permian Basin may have a modern day version of Bonnie and Clyde on their hands after multiple oil field thefts have been reported to authorities recently in a three-county area of West Texas. The thefts have gotten so staggering that the El Paso division of the FBI has been brought in to help identify stolen oilfield equipment and suspects. ...

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Big Foot sighting in the Gulf of Mexico

After years of construction, the colossal Big Foot platform is proving it isn’t just an urban legend. The deepwater offshore rig is finally heading out into the Gulf of Mexico. Although Big Foot was built in Korea, additional work has been ongoing since March 2013 in the Gulf Marine Fabrication yards in Corpus Christi, according to FuelFix. But the rig’s ...

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Pipeline project would bring thousands of jobs

According to a study conducted by researchers at Pennsylvania State University, the design and construction process of a new natural gas pipeline project will bring in an estimated $1.6 billion in additional wages, revenues and investments to the regional and state economies of Pennsylvania and Virginia. The results of the analysis show that the Williams Atlantic Sunrise pipeline project has ...

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Texas LNG seeking approval of Eagle Ford gas exports to Mexico


The business of liquefied natural gas (LNG) is going strong in places like Brownsville, Texas where one company is submitting a request to the Federal Energy Regulatory Commission (FERC) to export processed LNG to Mexico. Texas LNG Brownsville LLC, a Houston-based company, submitted the pre-filing letter to the federal agency on March 9. The natural gas company will take gas ...

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Whiting to sell part of company, not whole

James Volker, chairman of the board and chief executive officer of Whiting Petroleum Corporation, speaks to guest and investors during an OGIS' conference for mid- and small-tier oil and gas companies in New York, April 7, 2014. REUTERS/Eduardo Munoz

Last week, Reuters published a report with mixed predictions for the future of Whiting Petroleum Corp.’s ownership; a Wall Street Journal article reported the company’s plans to sell, but an unnamed Whiting source seemed unaware of any such plans. Today, Investor’s Business Daily reports that the Denver-based company is seeking buyers for portions rather than ownership. According to the report, ...

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Potential mega-deal meets rumor mill

A potential monster-sized acquisition that would even make Halliburton blush is soon to be coming to a water cooler near you. Norwegian-based oil giant Statoil ASA (NYSE: STO) is tossing around the idea of potentially acquiring Houston-based EOG Resources Inc. (NYSE: EOG) in a deal that could be worth over $50 billion, according to the Houston Business Journal. That dollar ...

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P.A. needs a train derailment task force, according to Casey

oil transport

Pennsylvania Senator Bob Casey is pushing for a federal legislation that would put in place a task force to acknowledge the increasing number of crude oil train derailments occurring in Pennsylvania. The legislation, titled The Response Act, would develop a Federal Emergency Management Agency National Advisory Council subcommittee that would assist first responders in dealing with crude oil train derailments.  ...

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Murray Energy is making moves in the coal business

Murray Energy Corp. is planning to spend $1.4 billion on controlling interest in a coal company located in St. Louis. The St. Clairsville-based company is purchasing stakes in Foresight Energy GP LLC and Foresight Energy LP (NYSE: FELP).  Murray says the acquisition will be a “transformative event” for the coal industry around the world.  The three companies combined will be ...

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Top 5 Bakken stories of the week

Here are the top five stories from Bakken.com for the week of March 7 through March 13. Enjoy! 5. Whiting Petroleum set to thrive despite low prices Denver-based Whiting Petroleum Corp. was and continues to be structured around making money at current oil price levels, says James J. Volker, the company’s president and Chief Executive Officer. During the company’s fourth quarter ...

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