|Bid||35.35 x 2900|
|Ask||35.75 x 1400|
|Day's Range||35.20 - 35.52|
|52 Week Range||28.82 - 38.04|
|Beta (3Y Monthly)||0.47|
|PE Ratio (TTM)||48.68|
|Forward Dividend & Yield||2.21 (6.27%)|
|1y Target Est||45.03|
Enbridge (ENB) is set to build the 135.5-mile Rio Bravo Pipeline with a transportation capacity of 4.5 billion cubic feet of natural gas per day.
NextDecade Corporation (NextDecade) (NEXT) and Enbridge Inc. (Enbridge) (ENB.TO) (ENB) announced today a Memorandum of Understanding (MOU) to jointly pursue the development of the Rio Bravo Pipeline (Rio Bravo) and other natural gas pipelines in South Texas to transport natural gas to NextDecade’s Rio Grande LNG project located in Brownsville, Texas. Rio Bravo is designed to transport 4.5 billion cubic feet per day of natural gas from the Agua Dulce area to Rio Grande LNG.
(Bloomberg) -- Enbridge Inc.’s Line 3 oil pipeline replacement and expansion project won’t face a challenge in front of the Minnesota Supreme Court from groups opposing it, removing one potential roadblock for the already-delayed proposal.The court on Tuesday denied a petition for further review from the non-profit group Honor the Earth and the Mille Lacs Band of Ojibwe, who had been seeking to challenge the project’s approval by state regulators. The court also denied a similar request from Friends of the Headwaters.The decision removes one possible obstacle for Line 3’s replacement and expansion, a key project for Canadian crude producers suffering from a lack of pipeline capacity. The proposal already had been set back by a year because of permitting issues, a delay that ultimately prompted the Canadian production hub of Alberta to extend its mandatory output cuts for a year to prevent a glut of oil from overwhelming the province.Enbridge said the ruling will allow the Minnesota Public Utilities Commission to start addressing a deficiency that was found in the project’s environmental review, and the company is confident the regulator will soon provide guidance on the next steps in that process.“Having clarity on the remaining process and schedule will allow us to start making real commitments with contractors, labor and other partners in local Minnesota communities who are eager to see the economic impacts,” Todd Nogier, an Enbridge spokesman, said in an emailed statement.The roughly C$9 billion ($6.7 billion) Line 3 project would add 370,000 barrels of daily shipping capacity along a 1,031-mile route from the Alberta oil hub of Hardisty to Superior, Wisconsin.Enbridge shares rose 0.1% to C$46.68 at 2:44 p.m. in Toronto. Shares of the Calgary-based company had risen almost 10% this year through Monday.\--With assistance from Andrew Harris, Rachel Adams-Heard and Joshua Fineman.To contact the reporter on this story: Kevin Orland in Calgary at firstname.lastname@example.orgTo contact the editors responsible for this story: Simon Casey at email@example.com, Christine BuurmaFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
CALGARY and DULUTH, MN, Sept. 17, 2019 /PRNewswire/ - Enbridge Inc. (ENB) (ENB) today said it supports today's ruling by the Minnesota Supreme Court that a further review of the Line 3 Replacement Project (L3RP)'s Final Environmental Impact Statement (FEIS) is not necessary. "We agree with this decision from the Minnesota Supreme Court which now allows the Minnesota Public Utilities Commission to move forth with the permitting process for the Line 3 replacement," said Guy Jarvis, Executive Vice President, Liquids Pipelines. Forward-looking information, or forward-looking statements, have been included in this news release to provide information about the Company and its subsidiaries and affiliates, including management's assessment of Enbridge and its subsidiaries' future plans and operations.
The Minnesota Supreme Court declined on Tuesday to hear environmental and tribal challenges to Enbridge Inc's Line 3 oil pipeline, a decision that removes one potential obstacle for the already-delayed project. The ruling means the Minnesota Public Utilities Commission (MPUC), the state regulator that approved the Line 3 project last year, will not have to consider additional environmental issues. Line 3 is part of Enbridge's Mainline network that transports western Canadian oil to Midwest refineries.
Enbridge Inc called on Canada's energy regulator on Wednesday to ignore calls from some of its shippers and avoid intervening in the pipeline company's contentious proposal to revamp contracts on its Mainline network. The written submission to the Canada Energy Regulator (CER) is the latest salvo in a dispute between Calgary-based Enbridge and some of Canada's biggest oil companies over the future of the Mainline network. It currently allocates capacity according to monthly nominations from shippers, and Enbridge is proposing to switch to long-term fixed-volume contracts on 90% of the pipeline.
CALGARY, Alberta/WINNIPEG, Manitoba (Reuters) - Enbridge Inc's plan to overhaul contracts on its Mainline pipeline system has outraged many Canadian shippers but is cheered by investors who see monetizing existing infrastructure as a safer bet than trying to build new pipelines. The Mainline is North America's largest pipeline network, transporting nearly 3 million barrels per day, or 70%, of crude from western Canada to the U.S. Midwest. Many shippers opposed say Enbridge is abusing its market power and the changes will hurt Canadian producers by imposing unfair terms and tolls.
CALGARY , Sept. 5, 2019 /CNW/ - Enbridge Inc. (ENB) (ENB) (Enbridge or the Company) provided an update today on the Canadian Mainline open season regulatory process. On August 2, 2019 , Enbridge commenced an open season, offering firm capacity on its crude oil Mainline system, effective upon expiry of the Competitive Toll Settlement that is in place until July 1, 2021 . The open season is the first stage of Enbridge determining whether there is sufficient commercial interest for its offering to provide priority access on the Mainline for terms of 8 – 20 years.
More than two dozen oil companies wrote to Canada's energy regulator on Thursday to support or oppose it intervening in Enbridge Inc's contentious proposal to overhaul shipping contracts on the Mainline pipeline network. The Mainline is North America's largest pipeline system, shipping around 3 million barrels per day of crude from western Canada to the U.S. Midwest. Enbridge currently allocates capacity based on monthly nominations from shippers, but is proposing to switch to long-term fixed-volume contracts.
CALGARY, Aug. 30, 2019 /PRNewswire/ - Enbridge Inc. (ENB) (ENB) (Enbridge or the Company) today announced that it has reached a commercial agreement with shippers to place the Canadian portion of the Line 3 replacement pipeline into service by the end of this year. Enbridge will be filing a tariff with the Canada Energy Regulator for a temporary surcharge with a proposed effective date of December 1, 2019. Forward-looking information, or forward-looking statements, have been included or incorporated by reference in this news release to provide information about Enbridge Inc. ("Enbridge" or the "Company") and its subsidiaries and affiliates, including management's assessment of Enbridge and its subsidiaries' and affiliates' future plans and operations.
In order to privatize the plunging Tallgrass Energy (TGE) that is partially under Blackstone Group's control, the latter plans to purchase the left-over stakes worth $3.03 billion.
(Bloomberg) -- Enbridge Inc.’s proposed shift to long-term crude shipping contracts on its Mainline pipeline network is drawing the ire of a growing number of producers, and now Canada’s energy regulator is getting involved, which could delay the process.After ConocoPhillips and Canadian Natural Resources Ltd. became the latest companies to object to Enbridge’s search for long-term shipping commitments, the regulator on Tuesday asked all involved to present their views. It’s asking for arguments on whether the so-called open season should be delayed until the new system has been approved by the regulator. Enbridge has argued that it needs the commitments before it seeks approval.The tussle is just the latest outcome of a pipeline bottleneck that’s dogging the Canadian oil industry as producers await major projects like Keystone XL and the Trans Mountain expansion to be built. With a dearth of options, producers fear a shift from the current monthly sign-up system will leave them less room to maneuver.Enbridge says that long-term contracts, which would only apply to Canadian segments of the system, would be the best way to balance the needs of all shippers. The change could also lend an advantage to some of the largest refiners in the U.S. Midwest, such as BP Plc and Exxon Mobil Corp., who source crude on the Mainline, according to Mike Walls, an analyst at Genscape Inc.“Producers are concerned that if a relative few large refiners in the U.S. control a large portion of the Mainline space, their access to customers will be limited as well as their ability to get to more diverse markets like the Gulf Coast,” Walls said in an email. “They would have less spot capacity and in the end would have to sell to the owners of the committed capacity.”Exxon declined to comment. BP didn’t immediately respond to a request for comment.Enbridge wants to reserve as much as 90% of space on the Mainline to companies with multiyear contracts, charging them whether they ship oil on the line or not. The 2.8 million barrel-a-day Mainline has seen heavy rationing as surging production has run into nationwide pipeline bottlenecks. Enbridge aims to start sending contracted volumes down the line in 2021.“The offering that we’ve got in that open season is responding to the needs of our customers and is supported by shippers representing the majority of the volume on our system,” Guy Jarvis, Enbridge’s executive vice president for liquids pipelines, said by phone. In his objection Tuesday, Canadian Natural President Tim McKay argued that the plan disadvantages non-integrated producers in favor of “shippers who can supply their own downstream” facilities.Separately, ConocoPhillips Canada President Kirk Johnson said the plan creates uncertainty for companies with contracts to ship on connecting pipelines such as the Flanagan South system that runs from Illinois to Oklahoma. The plan already has drawn objections from Suncor Energy Inc., Canada’s largest integrated energy producer, as well as oil-sands driller MEG Energy Corp. and the Explorers & Producers Association of Canada, which represents small- and medium-sized producers.To contact the reporters on this story: Robert Tuttle in Calgary at firstname.lastname@example.org;Kevin Orland in Calgary at email@example.comTo contact the editors responsible for this story: David Marino at firstname.lastname@example.org, Carlos Caminada, Simon CaseyFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The acquisition of SRC Energy will make PDC Energy (PDCE) the second-largest oil producer in the Denver-Julesburg Basin after Houston-based Occidental Petroleum.