The number of U.S. drilling rigs fell by 15 this week, to 2,001, according to Houston-based oil field services firm Baker Hughes.

Oil rigs declined by eight, to 1,125, and natural gas rigs dropped by six, to 871. Miscellaneous rigs shrank by one, to five.

The Texas rig count fell by two, to 914.

In North Texas' natural gas-rich Barnett Shale, there were 59 rigs drilling on Friday, up seven from a week earlier, according to RigData. The leading counties were Tarrant, 21; Wise, 8; and Johnson, Denton and Montague, 5 each.

As oil prices creep upward, lawmakers in Washington are staking out familiar and competing positions over how to address the rising price of energy.

The Energy Department itself remains tangled in the scandal over failed solar firm Solyndra. Amid signs that gas prices could soon hit an upswing, top Energy officials are distracted preparing for testimony before Congress and answering the House Energy and Commerce Committee's requests for documentation on its renewable energy loan program. 
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 BHP Billiton Ltd. plans to invest roughly US$4.5 billion developing the shale oil and gas assets it bought in the U.S. this financial year as it ramps up production, the head of the mining company's petroleum division said Monday.

BHP expects capital spending to jump to almost US$6 billion in the 2015 fiscal year and roughly US$6.5 billion by 2020 as the company ramps up the number of rigs on its four project areas, Michael Yeager said in a conference call from Melbourne. Read more »

United Country Bonnette Auction Company announces the auction 8,029 acres in Hackberry, La., on Thursday, December 15, 2011, at 1pm CST, according to Barbara Bonnette, auctioneer.

"This is one of the most fantastic properties ever offered for acquisition in Louisiana," noted Bonnette. "The income potential for this property is staggering. The recreation possibilities and beauty of this tract are second to none. Tracts this size are rarely available." Read more »