Daily News Energy Headlines from June 16, 2016

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

CRUDE OIL
Oil Prices Reach One-Month Low - Oil prices declined 3% on Thursday, reaching a one-month low on a strengthening dollar, low U.S. drawdowns and concerns over Britain's possible exit from the European Union.

Price Pain for Oil & Gas Expected to Continue Until Demand Surges - Crude-oil prices have risen nearly 50% since their late-January lows, but analysts caution that current prices likely don't represent a sustainable recovery because prices have been pushed up by temporary supply interruptions more than demand growth.

FINANCIAL
Devon Energy Unloads Midland Basin Acreage - On Wednesday, Devon Energy (NYSE:DVN) (Oklahoma City, Oklahoma) announced that it had entered agreements to sell non-core assets in the Midland Basin for a combined $858 million, including acreage to Pioneer Natural Resources (NYSE:PXD) (Dallas, Texas) for $435 million.

PRODUCTION
Pioneer to Add Five Rigs to Spraberry/Wolfcamp - In addition to acquiring acreage from Devon Energy, Pioneer Natural Resources says it will add five horizontal rigs this year to the northern Spraberry/Wolfcamp region. The first will be added in September, followed by two each in October and November.

LNG
Gazprom, Shell Sign Agreement for Baltic LNG Project - Russia's Gazprom and Royal Dutch Shell plc (NYSE:RDS-A) (The Hague, Netherlands) have signed a memorandum of understanding for the construction of a liquefied natural gas (LNG) plant on the Russian coast of the Baltic Sea. The plant would have a possible annual capacity of 10 million tonnes.

POWER
Dynegy Speeds Up Purchase of 17 Engie Power Plants - Dynegy Incorporated (NYSE:DYN) (Houston, Texas) says that it will spend $750 million to take full control of 17 power plants previously owned by Engie (Paris, France) by buying out the 35% stake of private equity firm Energy Capital Partners for $750 million. Dynegy had previously said it would buy out the firm's stake within five years, but now says it will complete the transaction by the end of this year.

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About IIR Energy
Energy asset information on power plants, oil refineries and natural gas infrastructure is now more important than ever. A unit of Industrial Info Resources, IIR Energy provides infrastructure information on these assets, as well as real-time tracking of planned and unplanned interruptions affecting the trading, logistics and marketing communities. We are the number one source for information about electricity outages, refinery turnarounds and midstream natural gas disruptions.

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 https://www.industrialinfo.com/.