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Tag Archives: East Texas

Anadarko CEO gives industry outlook

The Texas Rose Festival and the petroleum business in East Texas have deeply entwined roots, Anadarko Petroleum CEO Al Walker told the Texas Rose Festival Men’s Luncheon on Friday. And they have flourished alongside each other. Now, however, the oil and gas industry is experiencing some tough times, as Saudi Arabia and OPEC keep pumping oil despite a supply glut ...

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Nobody hurt in East Texas derailment, including 2 tankers

BIG SANDY, Texas — Nearly a dozen freight cars have derailed in East Texas including two tankers carrying sulfuric acid but none of the toxic cargo spilled. Big Sandy police say nobody was hurt in Thursday morning’s derailment involving a 115-car Union Pacific train. Authorities say 11 cars derailed, including some that overturned. Officer Noe De La Cruz says authorities ...

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Tornado in East Texas town of Van blamed for $40M damage

VAN, Texas — An emergency official says a deadly tornado that blasted an East Texas town left behind about $40 million in damage. Van Zandt County emergency management coordinator Chuck Allen provided the damage estimate as recovery continues from Sunday’s twister in Van. Hundreds of homes and businesses were damaged or destroyed in the violent weather that killed a husband ...

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Cleanup continues after East Texas tornado, 2 killed

VAN, Texas — Cleanup continues in an East Texas town after a tornado left two people dead, several critically hurt and dozens of buildings damaged. The Van Independent School District canceled classes again Tuesday amid damage to campuses. School was also called off Monday. A man and a woman were killed Sunday night when the tornado hit Van, a town ...

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Ex-Railroad Commissioner Buddy Temple dies at 73

Buddy Temple

LUFKIN, Texas — Former Railroad Commissioner Buddy Temple, who withdrew from the 1982 Democratic primary for governor and unified the party behind state Attorney General Mark White’s eventual winning campaign, has died at age 73. Buddy Zeagler, executive director for the Temple family’s philanthropic foundation, told The Lufkin Daily News that Temple died at his Lufkin home Tuesday. Temple, an ...

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Midcoast Energy moves in on Eaglebine assets

oil pipe

On Monday, Midcoast Energy Partners L.P. (NYSE: MEP) announced its new ventures into the Eaglebine shale play in East Texas through two key transactions totaling approximately $160 million. According to a press release from Enbridge Energy Partners, the expansion on behalf of the corporation includes the construction of a new natural gas pipeline gathering header and the acquisition of various ...

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Exco Resources suspends dividend

oil barrels

Exco Resources Inc. said Monday that it has suspended its cash dividend due to a fall in oil prices, which sent its shares down sharply. The Dallas-based oil and natural gas company said that it will reinvest the money that it would have spent on the dividend into the company. Exco CEO Jeff Benjamin said that the board determined this ...

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Goodrich plans startling 2015 budget amidst low oil prices

pump jack

Goodrich Petroleum Corp. has 99 problems, but low oil prices isn’t one. Goodrich released its capital expenditure budget for 2015, and it has some people scratching their heads. Over 95 percent of the $150-200 million budget is oil-directed and will go in its entirety to the development of the Tuscaloosa Marine Shale (TMS). According to the company’s press release, “costs ...

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