Home / Exclusives / Top Eagle Ford news stories: April 15-22
Top Eagle Ford news stories: April 15-22
In this video grab a large plume of smoke rises from the Mexican State oil company Petroleos Mexicanos' petrochemical plant after an explosion in Coatzacoalcos, Mexico, Wednesday, April 20, 2016. The explosion killed several people, injuring dozens and sending flames and a toxin-filled cloud into the air, officials said. (Omar Diaz/Oaxaca Integro via AP)

Top Eagle Ford news stories: April 15-22

A deadly explosion devastated a Mexican community and low gasoline prices continue to cause problems in the Gulf states. Scroll down to recap this week’s top Eagle Ford news headlines.

5. ‘Hard choices’ in Texas as oil bust, costly lawsuits collide

Image: Robert Galloway via Flickr

Image: Robert Galloway via Flickr

HOUMA, La. (AP) — It might sound strange, but the penny-pinching folks in Louisiana’s Oil Patch can’t wait for the price of gasoline to go back up.

Cheap gas at the pump — though a welcome cash infusion for millions of American households — is a way of saying “recession” in south Louisiana, where oil wells are as common as shrimp nets and alligators.

Since 2014, Louisiana has lost about 12,000 oil and gas jobs as prices have declined, according to the Louisiana Workforce Commission. Nationwide, about 100,000 jobs related to the oil and gas industry have been lost since January 2015, the federal Bureau of Labor Statistics reports.

Read more about ‘hard choices’ in Texas here.

4. Louisiana and Mississippi driller Goodrich files bankruptcy

Image: Joshua Delaughter via Flickr

Image: Joshua Delaughter via Flickr

JACKSON, Miss. (AP) — One of the oil companies most active in drilling wells in the Tuscaloosa Marine Shale formation in Mississippi and Louisiana has sought bankruptcy protection.

Houston-based Goodrich Petroleum filed for Chapter 11 bankruptcy Friday after securities owners rejected swapping their holdings for common stock to lower debt payments. The company cites $99 million in assets against $507 million in debts.

Law firm Haynes & Boone says 60 North American petroleum companies have sought bankruptcy since 2014.

Read more about Goodrich Petroleum here.

3. 24 dead in Mexico petrochemical plant blast, 8 still missing

A relative of a missing worker argues with a Mexican army soldier as he demands to be allowed to get more information, outside the Pajaritos petrochemical complex in Coatzacoalcos, Mexico, Thursday, April, 21, 2016. At least 13 people are now confirmed dead and scores of others were injured in a Wednesday afternoon explosion inside the plant. The state oil company Petroleos Mexicanos, or Pemex, said the plant, operated by Mexichem, in partnership with Pemex, produces vinyl chloride, a hazardous industrial chemical. (AP Photo/Felix Marquez)

A relative of a missing worker argues with a Mexican army soldier as he demands to be allowed to get more information, outside the Pajaritos petrochemical complex in Coatzacoalcos, Mexico, Thursday, April, 21, 2016. At least 13 people are now confirmed dead and scores of others were injured in a Wednesday afternoon explosion inside the plant. The state oil company Petroleos Mexicanos, or Pemex, said the plant, operated by Mexichem, in partnership with Pemex, produces vinyl chloride, a hazardous industrial chemical. (AP Photo/Felix Marquez)

COATZACOALCOS, Mexico (AP) — The death toll from an explosion that ripped through a petrochemical plant on Mexico’s southern Gulf coast is now 24, state oil company Petroleos Mexicanos reported.

Pemex raised the toll late Thursday from the 13 fatalities previously known and said eight workers remained missing. It also said 19 people remained hospitalized, with 13 of them in serious condition.

In a statement, the company said 12 of the bodies had been identified and eight of them delivered to family members.

Read more about the petrochemical plant explosion here.

2. Oil meeting in Qatar collapses without freeze as Iran absent

Saudi Oil Minister Ali al-Naimi, center right, arrives at an oil-producers' meeting in Doha, Qatar, on Sunday, April 17, 2016. Oil-producing countries are meeting in Qatar to discuss a possible freeze of production to counter low global prices, but Iran's last-minute decision to stay home could dilute the impact of any agreement. (AP Photo/Jon Gambrell)

Saudi Oil Minister Ali al-Naimi, center right, arrives at an oil-producers’ meeting in Doha, Qatar, on Sunday, April 17, 2016. Oil-producing countries are meeting in Qatar to discuss a possible freeze of production to counter low global prices, but Iran’s last-minute decision to stay home could dilute the impact of any agreement. (AP Photo/Jon Gambrell)

DOHA, Qatar (AP) — A meeting of oil-rich countries in Qatar that had been expected to boost crude prices by freezing production fell apart Sunday as Iran stayed home and vowed to increase its output despite threats by Saudi Arabia.

Oil prices, which hit a 12-year low in January by dipping under $30 a barrel, had risen above $40 in recent days, buoyed by the bullish talks surrounding the Doha summit.

But instead of a quick approval of a production freeze, the meeting of 18 oil-producing nations saw hours of debate and resembled the dysfunction of an unsuccessful meeting of the Organization of the Petroleum Exporting Countries in December that sent oil prices tumbling.

Read more about the Qatar meeting here.

1. A bust hits Louisiana Oil Patch as rest of nation enjoys cheap gas

This March 18, 2016 photo, shows the empty Halliburton Co. facility in Houma, La. Halliburton says the facility is being sold and that workers there were relocated in 2015. Louisiana's oil industry is being clobbered by an unexpected worldwide oversupply of crude oil. The Louisiana Workforce Commission says the state has lost about 12,000 oil and gas jobs since 2014 as gas prices have ebbed. (AP Photo/Cain Burdeau)

This March 18, 2016 photo, shows the empty Halliburton Co. facility in Houma, La. Halliburton says the facility is being sold and that workers there were relocated in 2015. Louisiana’s oil industry is being clobbered by an unexpected worldwide oversupply of crude oil. The Louisiana Workforce Commission says the state has lost about 12,000 oil and gas jobs since 2014 as gas prices have ebbed. (AP Photo/Cain Burdeau)

HOUMA, La. (AP) — It might sound strange, but the penny-pinching folks in Louisiana’s Oil Patch can’t wait for the price of gasoline to go back up.

Cheap gas at the pump — though a welcome cash infusion for millions of American households — is a way of saying “recession” in south Louisiana, where oil wells are as common as shrimp nets and alligators.

Since 2014, Louisiana has lost about 12,000 oil and gas jobs as prices have declined, according to the Louisiana Workforce Commission. Nationwide, about 100,000 jobs related to the oil and gas industry have been lost since January 2015, the federal Bureau of Labor Statistics reports.

Read more about the oil bust in Louisiana here.

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