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National Oilwell Varco closing Louisiana facility

National Oilwell Varco headquarters in Greater Sharpstown, Houston. (Image: WhisperToMe via Wikimedia commons)

HOUMA, La. — National Oilwell Varco, a manufacturer and parts supplier to the oil and gas industry, is shutting down its facility in Houma, Louisiana, and that will put 80 employees out of work. The Louisiana Workforce Commission tells The Advocate the layoffs at the facility started Monday, and will continue in phases until NOV shuts down sometime between March ...

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US stocks open slightly higher as crude oil price stabilizes

NYSE

NEW YORK  — U.S. stocks are moving higher Thursday, led by gains in energy companies as the prices of crude oil and natural gas recover from steep plunges the day before. KEEPING SCORE: The Dow Jones industrial average added 112 points, or 0.7 percent, to 15,878 as of 10:15 a.m. Eastern time. The Standard & Poor’s 500 index rose 10 ...

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Buffett’s firm buys another 1.6 million Phillips 66 shares

OMAHA, Neb. — Berkshire Hathaway is continuing this month string of Phillips 66 stock purchases, and Warren Buffett’s conglomerate now controls 12.9 percent of the oil refiner. Berkshire filed documents with the Securities and Exchange Commission on Friday that disclosed purchases of another 1.6 million Phillips 66 shares. Buffett’s company has now bought nearly 7.5 million shares of Phillips 66 ...

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Minimizing the risk of bankruptcy with efficient oilfield water management

For many years the industry has discussed the importance of the Energy-Water Nexus. This term highlights the interconnection and critical nature of water in energy production and conversely the requirement of energy for water production. Professionals in the upstream energy sector live and work within this Nexus on a daily basis. Water is both the largest input and output within ...

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Sourcewater Founder Joshua Adler to Speak at Produced Water Society, Houston

Sourcewater

Sourcewater, the water exchange for the energy ecosystem, announced that its founding chief executive Joshua Adler will be a featured speaker at the Produced Water Society Annual Seminar at the Omni Westside Hotel in Houston, Texas, January 26-28, 2016. This year’s meeting will focus on reducing the cost of oil and gas operations through best practices, new technology and strategic ...

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US stocks rebound a day after plunge, led by energy sector

NYSE wall st stocks

U.S. stocks bounced back from an early slide Thursday, recouping some ground a day after their worst drop since September. Energy stocks led the rally as the price of crude oil climbed more than 2 percent. Exxon Mobil and Chevron jumped 4 percent, by far the largest gains in the Dow Jones industrial average. Investors also had their eye on ...

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US border agents begin inspecting US-bound trucks in Mexico

US Mexico border

TIJUANA, Mexico — U.S. authorities began working Tuesday on Mexican soil for the first time to inspect trucks bound from Tijuana to the United States as part of a new enforcement program intended to reduce congestion and speed cargo across one of the nation’s busiest border crossings. The joint inspections by U.S. and Mexican officials were launched after Mexican lawmakers ...

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IHS Names Sourcewater Inc an Energy Innovation Pioneer for 2016

IHS, the leading source of insight, analytics and expertise in critical areas that shape today’s business landscape, has named Sourcewater, Inc. an Energy Innovation Pioneer for 2016. Sourcewater will be featured at CERAWeek, the world’s premier energy industry gathering, to be held February 22-26 in Houston. Sourcewater, a spinout from MIT’s Energy Ventures program, is the first online marketplace for ...

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