Linn enters debt agreement, files Chapter 11

Linn Energy LLC, Houston, filed voluntary petitions on May 11 for restructuring under Chapter 11 of the bankruptcy code in the US Bankruptcy Court for the Southern District of Texas. The firm says it expects its operations to continue as usual throughout the process. Source: News

Senate passes Heitkamp’s first responders training improvement bill

The US Senate approved legislation to improve emergency first responders’ capacity to act following accidents involving rail shipments of crude oil and other hazardous materials. S. 546, which US Sen. Heidi Heitkamp (D-ND) introduced in February 2015, was referred to the US House Transportation and Infrastructure Committee for further action on May 10. Source: […]

EIA: Oil market share to slip but stay strong

Oil’s share of the global energy market will decline but remain dominant through 2040 as natural gas becomes the fastest-growing fossil fuel, predicts the US Energy Information Administration. Source: News

Contracts terminated for two Gulf of Mexico drillships

Freeport-McMoRan Oil & Gas LLC (FMOG) and its parent company Freeport-McMoRan Inc. have agreed with drilling contractor Noble Corp. PLC to cancel contracts for the Noble Sam Croft and Noble Tom Madden drillships. Source: News