Thu, Mar. 26, 2:36 PM
- Canada's government says it will give the National Energy Board until next year to deliver up-to-date guidelines for oil pipeline companies to improve safety and protect the environment.
- The instructions coincide with several major pipeline expansion projects proposed in Canada by companies such as Kinder Morgan (NYSE:KMI), Enbridge (NYSE:ENB) and TransCanada (NYSE:TRP).
- The Conservative government has promoted expansion of the oil and gas industry, pledging to make the country an "energy superpower."
- Meanwhile, the NEB reportedly is investigating up to a dozen new allegations of natural gas pipeline safety code violations at TRP, which would mark the second time in recent years the regulator has probed safety practices at TRP following complaints by a whistleblower.
Wed, Mar. 25, 11:36 AM
- MKM Partners chief market technician Jonathan Krinsky offers his picks and pans in the world of energy MLPs, based mostly on relative strength compared to the sector’s benchmark Alerian MLP Index, which has slumped for the past six months.
- Krinsky's Buy recommendations: ALDW, BPL, CPLP, ENB, ETE, KMI, PAGP, SEMG.
- However, he tags CNP, NRP, SDLP and TOO with Sell ratings.
- ETFs: AMLP, AMJ, MLPL, YMLP, MLPI, MLPA, MLPN, EMLP, MLPG, MLPX, MLPS, MLPY, AMU, YMLI, MLPJ, ZMLP, ENFR, AMZA, ATMP, MLPW, MLPC, IMLP, OSMS, YGRO, MLPO
Tue, Mar. 17, 10:58 AM
- The Keystone pipeline disappointment is hardly a death knell for TransCanada (NYSE:TRP), as the company remains one of the top holdings in Skip Aylesworth’s Hennessy Gas Utility fund, which climbed 21% last year as distribution gains trumped price drops.
- TRP is "a fine, healthy company and, yes, this is a hiccup, and they would love to see Keystone happen, but it is just a part of their business," Aylesworth tells Barron's.
- Of one Aylesworth's favorite energy investments actually is Berkshire Hathaway (BRK.A, BRK.B), which is heavily involved in the distribution of natural gas and owner of Burlington Northern, which is exploring using natural gas to fuel long-distance freight trains.
- Other favorites: ENB, WMB, LNG, NJR, KMI, SE
Fri, Mar. 6, 12:21 PM
- Enbridge (ENB +0.3%) says it plans to boost the size of two lines carrying crude from Alberta's oil sands while cutting C$400M from their original price tag.
- ENB says the two planned regional lines, the Athabasca Twin and Wood Buffalo extension projects, will now cost a combined C$2.6B, down from its prior C$3B estimate.
- The pipe diameter of the Wood Buffalo project will be boosted to 36 inches from a planned 30-inch diameter, while the Athabasca Twin will add pumping capacity to raise its throughput to 800K bbl/day from 450K.
Fri, Feb. 20, 4:58 PM
- Shale producers in Alberta’s Duvernay region are told to monitor and prevent earthquakes after provincial regulators linked a series of seismic events over the last two months to fracking.
- Producers must test for quakes and, if they detect seismic events greater than magnitude 2.0 on the Richter scale, take measures to reduce the impact of their activity; if a tremor is detected above 4.0, producers must immediately halt drilling and can’t resume until they get approval from regulators.
- Fracking is blamed for several Alberta quakes in December and January, including one with a magnitude of 4.4.
- Chevron (NYSE:CVX), Royal Dutch Shell (RDS.A, RDS.B) and Encana (NYSE:ENB) are among companies drilling for natural gas liquids in the Duvernay region.
Fri, Feb. 20, 2:56 PM
- Enbridge (ENB +0.2%) says it is considering opening a new route to bring crude oil from western Canada and North Dakota to U.S. Gulf coast refiners,as the company says U.S. Gulf is becoming more of a competitive market for Canadian oil.
- The project originally was announced in early 2013 with a planned start-up date this year; ENB was unable to secure commitments with shippers two years ago, but believes that now there may be more demand for such a pipeline due to increased interest in Gulf coast refineries.
- If ENB moves forward, the project would become the third planned pipeline to bring large amounts of Canadian and North Dakotan oil from the Midwest to the U.S. refining hub along the Gulf Coast, joining Enterprise Products' Seaway Twin pipeline, which also links to ENB’s Flanagan South, and TransCanada's Keystone XL.
Thu, Feb. 19, 7:14 PM
- Enbridge (NYSE:ENB) reported adjusted Q4 earnings that fell short of expectations, but says it remains confident it can deliver 10%-12% average annual EPS growth over the next four years.
- ENB also says its revenue increase to nearly $8.8B from $8.29B was partly the result of new income from its call for line fill on its Flanagan South and Seaway Crude pipeline projects; the completion of the two projects allowed large quantities of heavy crude oil from Alberta to the U.S. Gulf coast for the first time.
- ENB says it expects to place another C$9B of pipeline projects into service this year after completing 15 projects worth C$10B in 2014; one project that has not been completed is the reversal of the Line 9 pipeline, and ENB says earnings from its mainline system were impacted by “the absence of revenues from Line 9B."
Thu, Feb. 19, 5:30 PM
Thu, Feb. 19, 4:30 PM
Mon, Feb. 9, 12:30 PM
- Alberta is in talks with Alaska about shipping oil sands crude through the state to the Pacific, as energy supporters struggle to convince opponents in Vancouver and Washington state of the merits of building new pipelines to ship crude out of the land-locked province.
- An Alaska plan that would involve constructing a pipeline along the Mackenzie River valley and then west to existing ports on the U.S. coast is "technically feasible, [but] whether it’s economically feasible has yet to be determined," Alberta Premier Jim Prentice tells Bloomberg.
- The route for a potential Alaska pipeline would cross through Canada’s Yukon and Northwest Territories, where both governments are supportive, Prentice says.
- Enbridge's (NYSE:ENB) planned Northern Gateway pipeline would terminate at B.C.'s Kitimat port, where groups oppose the project; Kitimat is ~1,000 miles southeast of the Alaskan port of Valdez.
- Alberta’s other pipeline options include TransCanada’s (NYSE:TRP) Energy East project to the Atlantic port of Saint John, New Brunswick; TRP's Keystone XL pipeline to the Gulf of Mexico; and Kinder Morgan’s (NYSE:KMI) Trans Mountain expansion to the port of Vancouver.
Mon, Feb. 9, 10:58 AM
- Enbridge (ENB +0.8%) says it is asking the National Energy Board for permission to start up its recently reversed Line 9 pipeline between Montreal and Ontario to begin service by the end of June, after addressing safety and environmental concerns raised by the regulator.
- The NEB approved the Line 9 reversal last March, but then held up the project citing deficiencies in ENB’s safety plan; it said Friday that the number and placement of emergency shut-off valves on the 300K bbl/day pipeline is now appropriate.
- The pipeline would ship crude oil from western Canada to refineries in eastern Canada.
Thu, Feb. 5, 8:27 AM
- Enbridge (NYSE:ENB) says the U.S. investigation into BP breaking anti-fraud and reporting rules on using oil pipelines is related to crude shipments on ENB's Mainline system.
- The CFTC told BP in November that it planned to recommend an enforcement action alleging violations of the Commodity Exchange Act in connection with Canadian pipeline nomination procedures and related trades.
- ENB says the CFTC has not indicated that it was under investigation.
Wed, Jan. 21, 7:11 PM
- Suncor Energy (NYSE:SU) expects Enbridge's (NYSE:ENB) Line 9B crude pipeline to start up towards the end of Q2 2015, according to Suncor CFO Alister Cowan.
- SU is a committed shipper on the pipeline, which will take crude from Sarnia, Ontario, to Montreal, Quebec.
- Line 9B originally was scheduled to start up late last year but ran into delays after Canada's National Energy Board requested data on valve placements on the revamped pipeline.
Tue, Jan. 13, 9:16 AM
- Enbridge (NYSE:ENB) says it was selected to build and operate a crude oil pipeline that will connect the planned Stampede deepwater project to an existing pipeline system.
- ENB says the new pipeline will be built in the Gulf of Mexico for ~$130M and begin operations in 2018.
- Hess (NYSE:HES), which plans to drill as many as six production wells in the Stampede area starting early this year, owns Stampede alongside partners Statoil, Nexen and Chevron.
Wed, Jan. 7, 11:48 AM
- Whether or not Pres. Obama would veto a bill approving TransCanada’s (TRP -0.8%) Keystone XL pipeline, Canada's dreams of becoming a global oil superpower are being washed away by a confluence of forces over which the country has no control, Financial Post's Terence Corcoran writes.
- When even a Republican-dominated U.S. Senate can’t muster enough support to force Obama’s hand, it means environmentalists and other Keystone foes effectively control the U.S. pipeline decision-making process, according to Corcoran.
- The economic environment looks even worse, as the promoted alternatives to Keystone - Northern Gateway (ENB -0.4%) to the west coast and Energy East through to Quebec and New Brunswick - almost certainly are rendered uneconomical if ~$50/bbl oil remains for any extended period of time.
- Instead of Canada selling oil elsewhere, the U.S. will sell its own oil elsewhere after recently lifting the 40-year-old ban on oil exports; with the surge in U.S. oil production and the new oil price level providing a boost for the U.S. dollar and U.S. consumers, Corcoran believes Obama has no reason to change his mind.
Fri, Jan. 2, 10:03 AM
- Enbridge (ENB -0.4%) says it restarted its North Dakota pipeline system after a fire at a truck-loading facility.
- The fire began yesterday at the facility that was leased to ENB's Tidal Energy Marketing unit; eight out of 12 crude storage tanks, each with a capacity of 400 barrels, caught fire at the site.
- ENB's North Dakota Pipeline Co. operates an 826-mile system from Plentywood, Mont., to Clearbrook, Minn., with a capacity to transport 210K bbl/day.
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