Inter Pipeline LtdOTCPK - Current
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  • Wed, Oct. 5, 11:17 AM
    | Wed, Oct. 5, 11:17 AM
  • Thu, Sep. 8, 11:23 AM
    | Thu, Sep. 8, 11:23 AM | 2 Comments
  • Mon, Aug. 8, 5:14 PM
    • Williams Cos. (NYSE:WMB) and Williams Partners (NYSE:WPZ) agree to sell their Canadian businesses to Inter Pipeline (OTCPK:IPPLF) for C$1.35B (US$1.03B).
    • As part of the deal, WMB waives US$150M of incentive distribution rights in the quarter to facilitate WPZ's consent to the sale in recognition of the value of inter-company contracts; following the waiver, WPZ will receive US$817M net consideration and WMB will receive US$209M.
    • The companies say they plan to use the proceeds to reduce borrowings on credit facilities.
    | Mon, Aug. 8, 5:14 PM | 14 Comments
  • Thu, Aug. 4, 1:48 PM
    | Thu, Aug. 4, 1:48 PM
  • Thu, Aug. 4, 12:43 PM
    | Thu, Aug. 4, 12:43 PM | 2 Comments
  • Thu, Jul. 14, 2:52 PM
    • Williams Cos. (WMB +5.6%) moves sharply higher following a Reuters report that it has received at least seven bids for its Canada unit, in a potential sale that could fetch $1B-$2B.
    • Interest has come from pipeline companies Enbridge (ENB -0.4%), Pembina (PBA +0.5%), Keyera (OTC:KEYUF) and Inter Pipeline (OTCPK:IPPLF), as well as three Canadian pension plans, and an unspecified number of U.S. companies, according to the report.
    • The sale process reportedly is at an advanced stage, and a deal could result by the end of the month; interest is said to be strong, highlighting demand for midstream assets that offer a steady cash flow despite volatile oil prices.
    • Also: WPZ +3.3%, EEP +0.1%.
    | Thu, Jul. 14, 2:52 PM | 14 Comments
  • Thu, Jul. 7, 6:10 PM
    | Thu, Jul. 7, 6:10 PM
  • Thu, Jun. 9, 11:36 AM
    | Thu, Jun. 9, 11:36 AM
  • Tue, May 10, 7:25 PM
    • Canadian oil sands companies near Fort McMurray are beginning to restart their operations, as the out of control wildfire continues to rage but has now moved far enough away from the oil sands' sites to allow the companies to return.
    • Royal Dutch Shell (RDS.A, RDS.B) is the first company to resume its operation in the area, restarting production at its Albian mine, and Enbridge (NYSE:ENB) has begun inspecting its facilities and prepares to restart operations shuttered during the blaze.
    • Suncor (NYSE:SU) says it has restarted power generation at its Syncrude oil sands mine in Aurora, and CEO Steve Williams says he expects oil sands companies would resume production “in the coming days and maybe a week or so, but you’re not talking longer periods.”
    • Alberta Premier Notley says there was no damage to oil sands facilities north of Fort McMurray, although the fire caused minor damage to Nexen’s (NYSE:CEO) oil sands facility south of the city and to ENB’s above-ground facilities along its pipelines in the area.
    • The decline to production reportedly reached at least 839K bbl/day, or close to one-third of Canada’s overall daily production, before Shell's restart.
    • While ~2,400 homes and buildings were destroyed by fire, officials say ~90% of buildings in Fort McMurray, including schools and a hospital, remain intact; two people died in accidents related to evacuating the fires.
    | Tue, May 10, 7:25 PM | 39 Comments
  • Mon, May 9, 3:19 PM
    | Mon, May 9, 3:19 PM | 12 Comments
  • Mon, May 9, 12:39 PM
    | Mon, May 9, 12:39 PM
  • Mon, May 9, 12:27 PM
    | Mon, May 9, 12:27 PM
  • Sat, May 7, 12:32 AM
    • The devastating wildfires in and around Alberta's Fort McMurray may double in size to 2K sq. km over the weekend and burn for weeks, officials say.
    • Bank of Montreal has cut its Q2 Canadian GDP growth estimate to zero from 1.5%, citing “severe disruptions to oil production” due to the fires, and said the estimate was just a placeholder dependent on more information on the scope of the disaster.
    • Royal Bank of Canada estimates that as much as 1M bbls/day of production has been shut, or ~40% of oil sands output, as companies including Suncor (NYSE:SU), Shell (RDS.A, RDS.B), Exxon (NYSE:XOM) subsidiary Imperial Oil (NYSEMKT:IMO), ConocoPhillips (NYSE:COP), Husky Energy (OTCPK:HUSKF) and Athabasca Oil (OTCPK:ATHOF) cut production.
    • The fire is said to be “at the gates” of Nexen’s (NYSE:CEO) Long Lake project, but a few companies including Canadian Natural Resources (NYSE:CNQ), Cenovus (NYSE:CVE) and MEG Energy (OTCPK:MEGEF) say their production has been unaffected so far.
    • Among pipeline companies, no assets have incurred significant damage, but Enbridge (NYSE:ENB) shut all pipelines in and out of Cheecham Terminal, Inter Pipeline (OTCPK:IPPLF) shut parts of its system in the province, and Keyera's (OTC:KEYUF) South Cheecham rail and truck terminal is shut down; TransCanada (NYSE:TRP) says it does not expect the fires to affect deliveries of natural gas.
    • SU, Phillips 66 (NYSE:PSX) and Statoil (NYSE:STO) have declared force majeure on supplies from the region.
    | Sat, May 7, 12:32 AM | 102 Comments
  • Thu, May 5, 6:38 PM
    • Alberta's raging wildfire has caused Canadian crude oil output to drop by at least 475K bbl/day, or nearly 20% of Canada's 2.5M barrels in total oil sands production - much of it typically sent to U.S. refineries.
    • While no oil operations have sustained damage from the fires, many operators have cut output amid evacuations of non-essential staff, pipeline outages and the risk from encroaching fire.
    • The amount of daily oil production threatened by the Canadian fires would be enough to nearly wipe out the world's oversupply, says Tim Pickering of Auspice Capital Advisors, calling the blaze "the most important issue in oil today."
    • The Bank of Nova Scotia says the destruction of property and loss of production could mean "very little" GDP growth during Q2 for the overall Canadian economy and that the damage to infrastructure will slow the recovery in the country's oil patch.
    • In the latest of a series of plant closures, ConocoPhillips (NYSE:COP) today shut down its Surmont oil sands site that produces 50K bbl/day and evacuated all staff, and Suncor (NYSE:SU) cut output at its 350K bbl/day Syncrude mining operation and its 203K bbl/day Firebag well site without specifying how much.
    • Other relevant tickers include: RDS.A, RDS.B, IMO, XOM, CNQ, ENB, PBA, CEO, OTCPK:HUSKF, OTCPK:IPPLF.
    | Thu, May 5, 6:38 PM | 59 Comments
  • Wed, May 4, 11:18 PM
    • The huge wildfire (I, II) that already has forced more than 80K people to flee their homes in and around Fort McMurray and disrupted oil sands operations in Alberta reportedly is set to expand.
    • Wildfire officials say the blaze probably will grow to 100 sq. km (40 sq. miles) from ~80 now, and that although lower temperatures may aid firefighters tomorrow, the fire is expected to last at least until the weekend.
    • WTI crude oil prices have jumped past $45/bbl overnight as the fire disrupts oil sands production.
    • Alberta oil sands producers are not yet in the fire's path but have cut or halted operations because of evacuations: Royal Dutch Shell’s (RDS.A, RDS.B) Canadian unit shut its Albian Sands mining operations which produce ~255K bbl/day, Suncor (NYSE:SU) cut production at all of its oil sands sites, Inter Pipeline (OTCPK:IPPLF) partially closed its 540K bbl/day Polaris pipeline system and its 346K bbl/day Corridor system, Husky Energy (OTCPK:HUSKF) cut output at its Sunrise oil sands plant by two-thirds to 10K bbl/day, Exxon’s (NYSE:XOM) Imperial Oil (NYSEMKT:IMO) Canadian unit says production has not yet been affected, and operations by Enbridge (NYSE:ENB), Pembina Pipeline (NYSE:PBA) and Canadian Natural Resources (NYSE:CNQ) apparently have not been affected.
    • The inferno is shaping up to be worse than the Slave Lake fire of 2011, one of the most costly natural disasters in Canada’s history, and is a severe blow to an area already devastated by job losses stemming from low energy prices.
    | Wed, May 4, 11:18 PM | 38 Comments
  • Mon, Apr. 11, 1:16 PM
    • Inter Pipeline (OTCPK:IPPLF) declares C$0.13/share monthly dividend, in line with previous.
    • Forward yield 5.96%
    • Payable May 16; for shareholders of record April 22; ex-div April 20.
    | Mon, Apr. 11, 1:16 PM | 1 Comment