Oil Rig Count, Energy Transfer Partners, EOG Resources: Your Daily Energy News

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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 Add Rigs for Fifth Straight Week - U.S. oil drillers added nine oil rigs in the week to May 4, bringing the total count to 834, the highest level since March 2015 and the fifth consecutive week of additions. (Reuters)

CRUDE OIL
Oil Hits Highest Since November 2014 - Oil prices rose about 2% on Friday, with U.S. crude hitting its highest in more than three years as global supplies remained tight and the market awaited news from Washington on possible new U.S. sanctions against Iran. (Reuters)

PIPELINES
Energy Transfer, Enterprise Products to Revive Natural Gas Pipeline - Enterprise Products Partners L.P. (NYSE:EPD) and Energy Transfer Partners L.P. (NYSE:ETP) today announced the formation of a 50:50 joint venture to resume service on the Old Ocean natural gas pipeline, which has been essentially idled since 2012. The 24-inch-diameter pipeline, which originates at Maypearl, Texas in Ellis County and extends south approximately 240 miles to Sweeny, in Brazoria County, Texas, is expected to resume service in the second quarter of 2018. (Business Wire)

FINANCIAL
Energy Master Limited Partnerships Fall Out of Favor with Investors - This Reuters article discusses how investors are steering clear of energy-based master limited partnerships, many of which are oil and natural gas pipeline companies, after the Federal Energy Regulatory Commission said in March they will no longer be allowed to recover an income tax allowance as part of the fees they charge to shippers under a "cost of service" rate structure. (Reuters)

EARNINGS REPORTS
EOG Profits Surge - Independent oil explorer and producer EOG Resources (NYSE:EOG) posted surging profits of $639 million for the first quarter of 2018, well up from $29 million during the first three months of 2017. (Fuel Fix)

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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, six offices in North America and 12 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.