TC Pipelines Shuts Keystone Pipeline After Oil Spill Into Kansas Creek, Investigation Starts

• TC Pipelines LP (NYSE: TRP) has shut down the Keystone Pipeline System and mobilized people and equipment in response to a confirmed release of oil into a creek in Washington County, Kansas, approximately 20 miles (32 kilometers) south of Steele City, Nebraska.

• An emergency shutdown and response was initiated at approximately 8 p.m. CT, on Dec. 7, 2022, after alarms and a detected pressure drop in the system. The affected segment has been isolated, and booms deployed to control downstream migration of the release.

• The system remains shut down as the company's crews work to contain and recover the oil.

• The leak size is currently unknown, and it is unclear how long the line will be closed, Reuters reported.

• The 622,000 barrel-per-day Keystone line is essential for shipping heavy Canadian crude from Alberta to refiners in the U.S. Midwest and the Gulf Coast.

• U.S. Pipeline And Hazardous Materials Safety Administration personnel are investigating the leak.

• Reuters notes that Keystone's shutdown is expected to hamper deliveries of Canadian crude both to the U.S. storage hub in Cushing, Oklahoma, and to the Gulf.

• Price Action: TRP shares are up 0.29% at $42.65 on the last check Thursday.

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