Daily News Energy Headlines from January 16, 2017

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News highlights gathered by Industrial Info and IIR Energy (Sugar Land, Texas) dealing with the energy markets.

FINANCIAL
Noble Energy to Buy Clayton Williams Energy - Noble Energy Incorporated (NYSE:NBL) (Houston, Texas) has agreed to purchase Clayton Williams Energy Incorporated (NYSE:CWEI) (Midland, Texas) for $2.7 billion in cash and stock in order to expand its footprint in the Permian. (Bloomberg)

Then & Now: Sanchez Slashes Capex, Boosts Production While Waiting for a Price Recovery - In 2014, Sanchez Energy Corporation (NYSE:SN) (Houston, Texas) produced about 30,000 barrels of oil equivalent per day (BOE/d) with a capital spend of nearly $700 million. For 2016, however, production nearly doubled, to about 52,000 BOE/d, and full-year capital outlays were lowered by over 50%, to between $250 million and $300 million. Better drilling science in Sanchez's core Eagle Ford, plus rising crude-oil prices and the sale of some non-core assets, are boosting the outlook for the independent Oil & Gas producer, which was formed in 2011. (IIR)

POWER
ITC Wins Key Approval for Major Transmission Line from Ontario through Eastern U.S. - ITC Holdings Corporation's (NYSE:ITC) (Novi, Michigan) Lake Erie Connector transmission line received a much-needed jolt in the arm last week when it received a Presidential Permit, which is required for international border-crossing projects, from the U.S. Department of Energy. (IIR)

Saudi Arabia Plans for Renewable Build-out - Saudi Arabia will start soliciting bids in the next few weeks for the first phase of a "massive" renewable-energy program costing $30 billion to $50 billion, Energy Minister Khalid Al-Falih said. OPEC's biggest producer plans to generate close to 10 gigawatts from renewables, primarily solar and wind power, by 2023, he said at an energy conference in Abu Dhabi. (Bloomberg)

LNG
Increased LNG Demand Could Lead to Shortages in Coming Decade - This Bloomberg article discusses how low liquefied natural gas (LNG) prices are driving up LNG demand, but driving down investment in LNG production facilities, which could lead to a shortage of LNG in the coming years, spiking prices. (Bloomberg)

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About Industrial Info
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, five offices in North America and 10 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle™, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn. For more information on our coverage, send inquiries to info@industrialinfo.com or visit us online at http://www.industrialinfo.com.