Oilfield services company Baker Hughes Inc. says the number of rigs exploring for oil and natural gas in the U.S. declined by 21 this week to 1,048 amid falling oil prices.
When the price of oil is climbing, exploration and production companies pile on debt to drill. But when the price drops, executives pay off the credit cards and hoard cash to survive the cycle.
Gas prices are going up this week to a national average of $2.20 a gallon, according to the Lundberg survey.
Gas prices are now averaging just over $2 a gallon, the cheapest since 2009. Will that change now that Saudi Arabia, the world's second largest producer of crude oil, has a new leader?
A closer look at the state of the airline industry reveals some airlines are saving big on jet fuel but the savings are not being passed on to you.
Two big oil companies are evacuating their workers from Iraq, as the President still considers military action.
Researchers from the University of Texas and the University of Texas at Arlington will be testing water in Montague County to see if chemicals used in hydraulic fracturing, or fracking as it's commonly called, make their way into groundwater in Montague County.
This story begins in the 1900’s when oil was discovered on Spindletop Hill in Texas the first major gusher of the Texas oil boom.
An estimated 2,000 barrels of crude oil rushed from a ruptured pipeline soaking a neighborhood.
Two people are hospitalized after an early morning explosion and fire at an East Texas oil storage facility.
Proud Texans have long welcomed the industry because of the cash it brings to sustain agriculture, but also see its presence as part of their patriotic duty to help wean the United States off "foreign" oil. So the answer to companies that wanted to build pipelines has usually been simple: Yes.
Oklahoma is the best place on earth to do business in oil and gas.
"Deep Impact: The History of Oil and Gas in North Texas" contains a narrative history of the industry, and gives biographies of some of the key players.
Oil and gas industry experts addressed what they say is the biggest problem facing their industry: high energy prices. Experts say the key to affordable energy is through domestic energy sources.
Solar energy panels can help companies be more environmentally friendly and also help them save on energy cost.