Sign Up for FREE Daily Energy News
 
BREAKING NEWS:
WEC - Western Engineered Containment
Copper Tip Energy Services
Hazloc Heaters
WEC - Western Engineered Containment
Hazloc Heaters
Copper Tip Energy

TransCanada Profit Tops Estimates Ahead of Key Legal Decisions


May 3, 2019 by Kevin Orland

(Bloomberg)

TransCanada Corp. posted first-quarter profit that topped analysts’ estimates, giving the pipeline company momentum as it enters a period that’s likely to feature key legal decisions on some of its major projects.

Key Takeaways

TransCanada is benefiting from increased energy production and a shortage of pipeline capacity that’s keeping its Keystone oil pipeline system and Columbia natural gas system running at high rates. The earnings strength may reassure TransCanada investors as the company awaits a Nebraska Supreme Court ruling on regulatory approval for its proposed Keystone XL pipeline’s route through the state. The company said Friday it expects the decision on the $8 billion project this quarter. TransCanada is entering a key period for its C$6.2 billion ($4.6 billion) Coastal GasLink natural gas project. Regulatory approval for the line also been challenged, and a decision is expected in the third quarter, the company said Friday. TransCanada added that there’s been progress on plans to sell a majority stake in the project. Some of the company’s natural gas pipelines in Mexico also are facing delays. The start of the Sur de Texas line has been delayed by force majeure events, and construction on part of the Tula project has been set back because of a lack of progress by the government’s energy department.



Share This:



More News Articles


New SHOWCASE Directory Companies

 

Millennium Directional
Alliance Borealis Canada Corp.
Kicker Video
U of C Executive Education
RAE Engineering
DRYAIR Manufacturing Corp.
Stress Engineering
John Brooks