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Pioneer Natural Resources to ramp up drilling despite loss

Pioneer Natural Resources says it will ramp up its drilling program in the Permian Basin oil fields despite reporting a second quarter loss. The Irving-based energy company reported a second quarter net loss of $218 million, or $1.46 per diluted share. Without adjustments for noncash derivatives and other unusual items, income for the second quarter was $15 million after taxes, ...

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Exxon adapts to light crude refining in Texas, could more follow?

Exxon Mobil will extend the capacity for processing light crude at its Beaumont, Texas, refinery in order to capitalize on U.S. production. United Press International reported that Exxon intends to increase production capacity by roughly 6 percent (20,000 barrels per day) in order to take in more crude produced by the regional shale sector. “This project will grow our capacity ...

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Two companies continue cuts in Texas energy industry

Two Houston-based oilfield companies have announced more job cuts on the horizon for Texas. National Oilwell Varco and Cal Dive International will cut a combined 276 jobs this month, according to state regulators on Monday. Fuel Fix reported that Cal Dive, which filed for Chapter 11 bankruptcy protection in March, told the Texas Workforce Commission it is closing two facilities ...

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TxDOT approves $22.8 million in roadway improvements

The Texas Transportation Commission approved six projects worth $22.8 million for the 12-county Odessa District, including two funded by Proposition 1, according to a Monday release from the Texas Department of Transportation. The six projects approved from the July bid openings are: — A project to resurface approximately 2.5 miles of West Loop 338 from Kermit Highway going north was ...

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ERCOT warns of potential need for power outages

After power consumption broke 2011 records for three consecutive days this month, the Electric Reliability Council of Texas issued a call for conservation Thursday morning. During the peak period of 3 to 7 p.m., energy consumers in Texas are being asked to help keep the power grid in working condition by making changes to how they use their electricity. ERCOT ...

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Chevron pulls nearly 1,000 jobs in Houston

Chevron announced Tuesday that the company will lay off 1,500 oil and gas workers companywide, including over 900 positions in Houston. In a statement released to KPRC 2 News, Chevron said that due to cost reduction efforts approximately 950 positions will be reduced in Houston. Operations in San Ramon, California will experience a reduction of 500 jobs and internationally, 50 ...

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