News

We keep up with what’s happening in the industry. Read more below.

Chevron, Facing Fossil Fuels Glut, Takes $10 Billion Charge

By Christopher M. Matthews and Rebecca Elliott Dec. 10, 2019 4:16 pm ET Chevron Corp. is writing down the value of its assets by more than $10 billion, a concession that in an age of abundant oil and gas some of its holdings won’t be ...

What Makes a Happy Employee?

Houston Business Journal Oct 31, 2019, 6:06pm EDT Over the past 19 years, the Houston Business Journal has learned a lot about what it takes to be one of the Houston area's Best Places to Work. From unlimited paid time off and ...

U.S. Oil and Gas Producers to Slash Spending for Second Straight Year in 2020

By Reuters Nov. 15, 2019, 6:49 a.m. ET The U.S. shale industry plans another spending freeze next year, and a sharp slowdown in production growth, as prolific oil and natural gas output has pressured prices and squeezed profits. Blistering growth in shale fields propelled ...

Houston Oil & Gas collapse could bring $81M well cleanup bill

POSTMEDIA NEWS November 6, 2019 Alberta’s orphan well count could grow by more than 1,000 after the receivership of Calgary-based Houston Oil & Gas Ltd., adding to the province’s growing inventory of oil and gas liabilities. Lars De Pauw, executive director of ...

Oil and Gas Sees Widescale VR Deployment

by  Andreas Exarheas Friday, November 01, 2019 The oil and gas industry is witnessing wide-scale deployment of virtual reality (VR) technology across its value chain. That’s according to GlobalData, which has produced a new report exploring how VR is finding its way ...

Government Loophole Gave Oil Companies $18 Billion Windfall

By Hiroko Tabuchi Oct. 24, 2019 The United States government has lost billions of dollars of oil and gas revenue to fossil-fuel companies because of a loophole in a decades-old law, a federal watchdog agency said Thursday, offering the first detailed accounting of the consequences ...