Enbridge, Inc. (ENB) - NYSE
  • Fri, Jan. 29, 2:15 PM
    • Alberta's new government unveils its new oil and gas royalty framework that left rates unchanged on existing oil wells and oil sands projects, easing fears that it could lead to higher costs and job losses at a time when Canada's energy heartland is already staggering from collapsing oil prices.
    • The highly anticipated royalty review keeps the current commodity price-based system, but will levy rates once the cost of a well has been recouped based on industry averages for drilling costs in Alberta, will apply only to new wells from 2017 onward; existing royalty rates will remain in place for 10 years on wells drilled before 2017.
    • Relevant tickers: SU, CVE, OTCPK:HUSKF, OTCQX:COSWF, RDS.A, RDS.B, IMO, XOM, CNQ, ENB, TRP, PDS, OTCPK:MEGEF
    | Fri, Jan. 29, 2:15 PM | 38 Comments
  • Wed, Jan. 27, 5:54 PM
    • Enbridge (NYSE:ENB) agrees to acquire Murphy Oil's (NYSE:MUR) Tupper Main and Tupper West gas plants and pipeline assets in British Columbia for C$538M.
    • The deal includes the sale of existing infrastructure capable of processing up to 320M cf/day.
    • MUR says it plans to invest some of the proceeds in a new joint venture with Athabasca Oil (OTCPK:ATHOF) to develop the Duvernay and Montney fields in the Kaybob area.
    | Wed, Jan. 27, 5:54 PM
  • Thu, Jan. 14, 2:49 PM
    • The B.C. supreme court rules the province failed to properly consult with First Nations on Enbridge's (ENB +3.4%) Northern Gateway pipeline, another setback for the project which aims to ship 525K bbl/day of oil sands crude to the port of Kitimat for export to Asia.
    • The First Nations group who brought the case forward say the ruling could set back the controversial pipeline by years and throw a wrench into another high-profile project review.
    • The court ruling stems from the B.C. government's agreement with the federal government to hold a single environmental assessment process under the National Energy Board rather than parallel federal and provincial reviews.
    | Thu, Jan. 14, 2:49 PM | 5 Comments
  • Tue, Jan. 12, 11:33 AM
    • With B.C.’s rejection of Kinder Morgan's (KMI -4.3%) Trans Mountain pipeline expansion, Canada’s diversification strategy is unraveling, according to Financial Post's Claudia Cattaneo.
    • Of the four major export pipeline projects proposed to open new markets for Canadian oil production, Cattaneo says the Trans Mountain project should have been the easiest to achieve because it expands a pipeline that has been safely transporting oil from Alberta to the B.C. coast for 60 years.
    • The rejection came the B.C. government said KMI had failed to fulfill the five conditions for heavy oil pipelines, announced in 2012, including “world-leading” marine oil spill response, prevention and recovery; “world-leading” practices for land oil spill prevention, response and recovery systems; and that B.C. receives its “fair share” of the fiscal and economic benefits.
    • B.C. "pulled the same stunt" in opposing Enbridge's (ENB -1.1%) Northern Gateway project, Cattaneo writes, saying the moves raise questions about whether the province's conditions are actually attainable, or why Canada has a federal process to approve cross-border pipelines when B.C. effectively seems to have the final say.
    | Tue, Jan. 12, 11:33 AM | 45 Comments
  • Mon, Jan. 4, 10:06 AM
    • Enbridge (ENB -1.3%) agrees to pay the Red Lake Nation in northern Minnesota $18.5M to settle a nearly decade-long dispute over unauthorized use of a parcel of tribal land.
    • Beginning in 1950, Lakehead Pipeline, which is now owned by ENB, laid four oil pipelines through a small isolated section of Red Lake land, but the tribe never gave the company permission and was never paid for use of the land.
    • Red Lake's top administrator calls the settlement "a windfall for the tribe."
    | Mon, Jan. 4, 10:06 AM | 2 Comments
  • Dec. 16, 2015, 5:17 PM
    • The cost to produce crude oil from Alberta’s oil sands dropped this year after 15 years of continuous inflation, according to a new report from IHS Energy, as capital and operating costs in the region have fallen in response to collapsing global oil prices.
    • But the findings do not mean the oil sands are now a more competitive choice for energy companies’ investment dollars compared with shale or offshore oil formations, as costs across the global energy industry also have dropped.
    • The report also says 70% of oil sands production growth over the next five years will come from the expansion of existing projects, and 80% of that growth will be from steam-based, rather than mining, projects.
    • Relevant tickers: SU, CVE, OTCPK:HUSKF, OTCQX:COSWF, RDS.A, RDS.B, IMO, XOM, CNQ, ENB, TRP, OTCPK:MEGEF
    | Dec. 16, 2015, 5:17 PM | 34 Comments
  • Dec. 11, 2015, 7:26 PM
    • Alberta's provincial government says it will delay the release of a controversial review of royalty rates paid by oil and gas producers until early next year.
    • Premier Notley and her NDP party had promised to reassess royalty rates on energy production as part of an election campaign that swept them into office earlier this year, but the review has drawn sharp criticism in the oil patch and from opposition parties because it comes as the province and energy industry struggle with tanking oil prices.
    • Alberta's energy minister has said any changes in royalty rates would not take effect before 2017, a move intended to ease the impact on the energy industry.
    • Relevant tickers: SU, CVE, OTCPK:HUSKF, OTCQX:COSWF, RDS.A, RDS.B, IMO, XOM, CNQ, ENB, TRP, OTCPK:MEGEF
    | Dec. 11, 2015, 7:26 PM | 33 Comments
  • Dec. 7, 2015, 5:38 PM
    • Enbridge (NYSE:ENB) says it shut down its 300K bbl/day Line 9 crude oil pipeline after protesters locked themselves to equipment at a valve site in Quebec.
    • ENB says it shut the pipeline, which runs from Sarnia, Ontario, to Montreal as a precaution and the protesters were removed by police; the company expects to be able to restart the line later today and does not anticipate any impact on deliveries to customers.
    | Dec. 7, 2015, 5:38 PM | 7 Comments
  • Dec. 3, 2015, 5:57 PM
    • Enbridge (NYSE:ENB) says it expects to make a decision on whether to go ahead with the Northern Gateway pipeline in H2 2016.
    • CEO Al Monaco said on a conference call today that ENB is not giving up on the C$7.9B project, even after the newly formed Canadian government announced a ban on tanker traffic along the north coast of British Columbia, effectively slamming the door on the pipeline.
    • ENB also confirmed its Line 9 pipeline is operational and would generate revenue in December.
    • Earlier: Enbridge raises 2016 cash flow guidance
    • Earlier: Enbridge Line 9 delivers first crude oil to eastern Canada
    | Dec. 3, 2015, 5:57 PM | 3 Comments
  • Dec. 3, 2015, 9:59 AM
    • An eastern Canadian refiner has begun receiving crude oil, including Bakken oil from North Dakota, via Enbridge’s (ENB +0.2%) newly reversed Line 9B, Bloomberg reports.
    • Companies such as Suncor Energy (SU +0.4%) and Valero Energy (VLO -0.3%) have said their refineries in Quebec could rely 100% on North American crude after the reversed 300K bbl/day pipeline ramps up to full capacity.
    • The new flow has redirected some crude that used to go to the Cushing, Okla., storage hub; ENB’s Spearhead pipeline, which runs to Cushing from Illinois, will run below capacity in December and January for the first time in two and a half years.
    | Dec. 3, 2015, 9:59 AM | 7 Comments
  • Dec. 3, 2015, 9:15 AM
    • In addition to increasing its dividend, Enbridge (NYSE:ENB) announces a five-year strategic plan which includes a C$38B ($28.5B) growth program, of which C$25B is commercially secured and in execution.
    • ENB says it expects 2016 available cash flow from operations per share of C$3.80-C$4.50, up from its 2015 estimate of C$3.30-C$4.00, and 2016 adjusted EBIT of $4.4B-$4.8B enterprise-wide.
    • ENB says the increase in cash flow guidance reflects growth from existing businesses, including projects brought on in 2015 such as the Mainline expansion program, the Edmonton-to-Hardisty pipeline, the Line 9 reversal and the Woodland pipeline expansion.
    | Dec. 3, 2015, 9:15 AM | 1 Comment
  • Dec. 3, 2015, 7:06 AM
    • Enbridge (NYSE:ENB) declares $0.53/share quarterly dividend, 14% increase from prior dividend of $0.465.
    • Forward yield 5.99%
    • Payable March 1; for shareholders of record Feb. 16; ex-div Feb. 11.
    | Dec. 3, 2015, 7:06 AM | 2 Comments
  • Nov. 25, 2015, 4:56 PM
    • Enbridge (ENB -1.1%) says it's acquired 100% interest in the New Creek Wind Project, an under-development 103-megawatt wind farm, from EverPower Wind Holdings.
    • Enbridge is in for about $200M on the West Virginia project, which is backed by renewable energy credit sales and off-take agreements with fixed pricing. It gives Enbridge an interest in a total near 2,000 megawatts of net renewable generating capacity.
    • The project comprises 49 turbines and is expected to be in service in December 2016.
    • Enbridge shares were up 0.5% after hours ahead of the news.
    | Nov. 25, 2015, 4:56 PM | 1 Comment
  • Nov. 24, 2015, 12:49 PM
    • Canadian oil producers may say they are on board with Alberta’s new climate change policy goals, but the requirement that companies reduce their methane emissions by 45% will add costs "in the tens or hundreds of millions of dollars over the next five years," the Canadian Association of Petroleum Producers says.
    • Alberta’s oil and gas sector produced 30.4 megatons of methane emissions in 2013, accounting for 70% of the province’s overall methane emissions.
    • National Bank Financial analyst Kyle Preston calls Alberta’s climate change policy “fair and accommodating” for oil and gas companies, and says newer energy projects such as Canadian Natural Resources' (NYSE:CNQ) Horizon oil sands project and MEG Energy’s (OTCPK:MEGEF) Christina Lake facility emit less greenhouse gas than older facilities, which will be hit harder by the new policies.
    • Other related tickers: TRP, ENB, IMO, XOM, RDS.A, RDS.B, OTCQX:COSWF, OTCPK:HUSKF, CVE
    | Nov. 24, 2015, 12:49 PM | 18 Comments
  • Nov. 24, 2015, 11:30 AM
    • Analysts are betting that renewable energy developers such as Enbridge (ENB +1.2%) and TransCanada (TRP +1.9%) will be among the best placed to make the shift to Alberta's new carbon policies, Bloomberg reports.
    • As the government boosts the province’s share of renewable electricity to 30% from 9% by 2030, "renewable power contracts are going to go to the bidder that needs the least amount of government support, developers with most financial flexibility and overall lowest cost of capital” such as ENB and TRP, says National Bank Financial's Patrick Kenny.
    • The two companies already are among Canada’s largest renewable power operators: ENB owns 2,065 MW of wind power across Canada, enough to power 650K homes, while TRP operates wind, hydro and nuclear plants as part of its 11.8K MW of power generation.
    • TransAlta (TAC -2%) surged 9.5% yesterday as investors felt Alberta's new policy avoided the worst-case fastest potential phase-out of coal plants.
    • Earlier: TransAlta +12% on Alberta climate change plan (Nov. 23)
    | Nov. 24, 2015, 11:30 AM
  • Nov. 23, 2015, 8:19 AM
    • Alberta's government announces plans to cap oil sands emissions for producers, phase out coal power plants and implement a carbon tax in an effort to curb pollution.
    • The provincial government in impose a limit of 100 megatons/year of carbon emissions, above current annual emissions of ~70 megatons, phase out coal power plants by 2030, and set a carbon price of C$20/metric ton (US$15) by 2017 which rises to C$30 in 2018.
    • The Canadian Association of Petroleum Producers supports the initiative, saying it could help improve Alberta’s image in markets to which oil sands producers hope to expand access.
    • "This will create a wealth of opportunities and jobs for generations to come. We in Alberta want to take a leadership role on climate," says Suncor (NYSE:SU) CEO Steve Williams.
    • Coal producers criticized the new policy, however, saying it will raise electricity costs in Alberta and cost Canadian jobs.
    • Other relevant tickers: TRP, ENB, IMO, XOM, RDS.A, RDS.B, OTCQX:COSWF, OTCPK:HUSKF, CVE, CNQ
    | Nov. 23, 2015, 8:19 AM | 24 Comments
Company Description
Enbridge, Inc. transports, generates and distributes energy in Canada and U.S. The company is involved in natural gas transmission and midstream businesses. It operates through five business segments: Liquids Pipelines, Gas Distribution, Gas Pipelines, Processing and Energy Services, Sponsored... More
Industry: Oil & Gas Pipelines
Country: Canada