Daily News Energy Headlines from March 18, 2016

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

PRODUCTION
U.S. Oil Drillers Increase Rig Count - After 12 weeks of rig cuts, U.S. oil drillers added a rig for the week ending March 18 for a total of 387 rigs drilling for oil. Gas rigs fell by five to 89.

Mexico to Open Up Shale Fields - Mexico's Deputy Energy Minister Lourdes Melgar says that the country will hold an auction this year to drill in the nation's shale oil fields.

FINANCIAL
TransCanada to Buy Columbia Pipeline - TransCanada Corporation (NYSE:TRP) (Calgary, Alberta) says it will buy natural gas pipeline company Columbia Pipeline Group (NYSE:CPGX) (Houston, Texas) for $10.2 billion. Columbia owns about 15,000 miles of natural gas pipelines. TransCanada is putting many U.S. power assets up for sale to help fund the purchase.

Eni Plans Asset Sales, Cost Cuts -Italy's Eni SpA (NYSE:E) (Rome) says it plans additional asset sales valued at $7.9 billion by 2019 and that it will target production growth of 13% by thattime, while reducing upstream capital spending by 18% compared to 2015.

POWER
Minnesota-Manitoba Transmission Line Awaits Presidential Import Permit -Plans by Minnesota Power (MP) (Duluth, Minnesota), a subsidiary of ALLETE Incorporated (NYSE:ALE) (Duluth), to build a 224-mile, 500 kilovolt (kV) transmission line connecting Minnesota and Manitoba took a step forward late last month after the Minnesota Public Utilities Commission (MPUC) approved the route for the proposed line. Because the line crosses international boundaries, the utility needs a presidential permit before it can begin construction of the Great Northern Transmission Line (GNTL).

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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.