Daily News Energy Headlines from June 16, 2017

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

PRODUCTION
U.S. Drillers Add Oil Rigs - U.S. drillers added six oil rigs in the week to June 16, bringing the total count up to 747, the most since April 2015. (Reuters)

ExxonMobil Makes Final Investment Decision to Proceed with Oil Development in Guyana - Exxon Mobil Corporation (NYSE:XOM) said today it has made a final investment decision to proceed with the first phase of development for the Liza field, located offshore Guyana. (Business Wire)

PIPELINES
Plains All American Pipeline Announces Open Season for Delaware Basin to Cushing Pipeline - A subsidiary of Plains All American Pipeline, L.P. (NYSE: PAA) on Friday announced that it is conducting an open season for committed crude oil pipeline capacity from the Delaware Basin to Cushing, Oklahoma. The pipeline will originate at Conan Station in Loving County, Texas. (Business Wire)

FINANCIAL
BP Energy Partners to Sell Portfolio Company - BP Energy Partners is selling portfolio company Pinnacle Midstream, sources familiar with the matter told Reuters. Houston-based Pinnacle, which operates natural gas and crude gathering, processing and transloading services, could sell for at least $300 million, one of the sources said. (Reuters)

NATURAL GAS
Gas Rises on Warm Weather Forecast, Low Stockpile Growth - Gas futures jumped 4.2% Thursday, the steepest one-day gain in 10 weeks, after a government report showed stockpiles grew less than expected. Prices could extend gains given forecasts for unusually warm weather that's set to sweep across most of the lower- 48 states in the next two weeks. (Bloomberg)

CRUDE OIL
Oil Posts Longest Weekly Run of Losses Since 2015 - Oil posted the longest run of weekly losses since August 2015 as OPEC member Libya restored production and the surplus in the U.S. shows little sign of abating. Oil slumped to the lowest close in seven months this week as concerns grew that rising U.S. supplies will offset the production curbs by the Organization of Petroleum Exporting Countries and allies including Russia. (Bloomberg)

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About Industrial Info
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