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Despite oil bust, Texas prepares more students for oil jobs

HOUSTON — The oil industry is mired in its latest bust, with thousands of jobs evaporating like flares flaming out over natural gas wells. But in Texas, education officials are preparing more young people for the oil patch, showing the state’s unshakeable commitment to the energy sector despite the employment uncertainties. The Houston school district is planning to expand its ...

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Louisiana parish drops suits against oil and gas companies

NEW ORLEANS — A coastal Louisiana parish on Thursday voted to drop its lawsuits against oil and gas companies over damages officials had said the oil industry caused to wetlands by digging numerous canals. The Plaquemines Parish council voted to dismiss 21 suits it had pending against 68 oil companies, officials and a lawyer said. The vote took place at ...

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Oil City clerk arrested on theft charge

SHREVEPORT, La. — A town clerk for Oil City has been arrested for allegedly stealing over $24,000. Caddo Parish Sheriff Steve Prator, in a news release, said 44-year-old Melissa Doise, of Oil City, was booked with felony theft for embezzling cash and manipulating accounting records in an effort to conceal the alleged crime. Authorities say Doise is accused of altering ...

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Estero, Florida hears from Rodrigues on fracking

Estero’s village council on Monday heard Rep. Ray Rodrigues explain his plan to regulate in Florida the oil drilling industry’s use of an extraction method known as “fracking.” Hydraulic or acid fracturing, better known as fracking, is the process of drilling into the earth and then injecting a high-pressure mixture to force oil out of the ground. The mixture can ...

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Ohio’s Utica Shale development grows by $5.7 billion or 20.4 percent since last spring

natural gas

Ohio’s Utica Shale has seen an additional $5.7 billion in investment or a 20.4 percent increase since last spring, a Columbus law firm says in a new report. The shale industry has invested $33.7 billion in Ohio, according to the report from Bricker & Eckler LLP, which tracks the industry. Ohio’s shale development is growing despite low commodity prices and ...

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Struggling U.S. oil producers get credit lifeline amid downturn

NEW YORK – An autumn credit crunch was expected to hit many independent U.S. oil producers, starving the industry of billions of dollars and further denting company budgets and drilling plans. But banks that adjust their loans to energy companies every six months based on the oil price and volumes of reserves were more lenient than many expected this time, ...

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U.S. shale oil output will be less resilient than gas: Kemp

(John Kemp is a Reuters market analyst. The views expressed are his own) LONDON – U.S. natural gas production hit a new record in August, despite the deepening slump in gas prices and a fall in the number of rigs targeting gas formations. The failure of gas production to respond to lower prices and a falling rig count has left ...

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Magnum Hunter warns of bankruptcy for gas companies

About a month after Magnum Hunter Resources Corp. said it had hired advisers to help boost the struggling company’s financial position, the oil and gas producer warned that it may be heading toward bankruptcy. It joins other oil and gas companies reeling from the body blows dealt by plummeting commodity prices — many have announced layoffs, suspended drilling in some ...

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Allegheny Township residents consider appealing gas drill ruling

Three Allegheny Township residents are weighing whether to again appeal the zoning ordinance that permits Marcellus shale natural gas well drilling throughout the township. A Westmoreland County judge recently upheld a March decision of the Allegheny Township Zoning Hearing Board, which had refused to invalidate the township’s regulations pertaining to gas and oil operations. Willowbrook Road residents Dolores Frederick, Patricia ...

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Oil price to rise only gradually to $80 by 2020: IEA

LONDON – Oil is unlikely to return to $80 a barrel before the end of the decade, despite unprecedented declines in investment, as yearly demand growth struggles to top 1 million barrels per day, the International Energy Agency said on Tuesday. In its World Energy Outlook, the IEA said it anticipates demand growth under its central scenario will rise annually ...

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