EnLink Midstream, California Hydropower: Your Daily Energy News

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Energy Market highlights gathered by Industrial Info and IIR Energy

CORPORATE
EnLink Midstream to Acquire North Texas Gathering and Processing System - EnLink Midstream LLC (NYSE:ENLC) (Dallas, Texas) announced that it has entered into an agreement to acquire North Texas gathering and processing assets from Crestwood Equity Partners LP (NYSE:CEQP) (Houston, Texas) for $275 million. The assets include 500 miles of gas gathering pipeline and three processing plants with 425 million cubic feet per day of capacity. (PR Newswire)

POWER
EIA: California Drought Could Nearly Halve Hydropower Output - The extended drought in California could lead to hydropower producing 8% of California's electricity generation, compared with 15% under normal precipitation conditions, the U.S. Energy Information Administration (EIA) said on Thursday. In April, the California Department of Water Resources said statewide snowpack was just 38% of the average for this time of year, following three straight months of record dry conditions. (Reuters)

CRUDE OIL
Oil Rises to 2-Month High - Oil prices climbed about 3% to a two-month high on Thursday on signs of tight supply ahead of U.S. summer driving season, as the European Union wrangled with Hungary over plans to ban crude imports from Russia over its invasion of Ukraine.

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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 commodity-trading community. We are the number one source for information about power plant outages, refinery turnarounds and midstream natural gas disruptions.

About Industrial Info
Industrial Info Resources (IIR) is the world's leading provider of market intelligence across the upstream, midstream and downstream energy markets and all other major industrial markets. IIR's Global Market Intelligence Platform (GMI) supports our end-users across their core businesses, and helps them connect trends across multiple markets with access to real, qualified and validated project opportunities. Follow IIR on: LinkedIn.