CS - TC Energy reaches six-year toll pact for Canadian Mainline - January 2020TC Energy applied with the Canada Energy Regulator for approval of a six-year negotiated and unanimously supported settlement with its customers and other interested parties on Canadian Mainline tolls. The 8,800-mile Canadian Mainline system primarily transports Western Canadian gas for delivery across the Prairie provinces and to Eastern Canada and the US. The system sets tolls for separate segments of the Canadian Mainline, including a 20% reduction from Empress, Alberta, to Emerson,...
Jan 08, 2020
MI - TC Energy reaches six-year toll pact for Canadian Mainline - January 2020TC Energy applied with the Canada Energy Regulator for approval of a six-year negotiated and unanimously supported settlement with its customers and other interested parties on Canadian Mainline tolls. The 8,800-mile Canadian Mainline system primarily transports Western Canadian gas for delivery across the Prairie provinces and to Eastern Canada and the US. The system sets tolls for separate segments of the Canadian Mainline, including a 20% reduction from Empress, Alberta, to...
Jan 03, 2020
CM - Encana doesn’t want to be Canadian anymore, moving to Denver - November 2019Citing easier access to capital and closer alignment to US peers, EnCana Corp. said it will redomicile in the US in early 2020. The move requires consent by its two stock exchanges— TSX and NYSE—as well as two-thirds of Encana’s shareholders, and regulatory approval. The move will also involve a name change to Ovintiv, Inc. In a preliminary proxy issued Nov. 6, the company said shareholders will be asked to approve measures at a special meeting in Calgary after the new year. “A domicile...
Nov 15, 2019
CS - Encana Corp. to redomicile to US early next year as Ovintiv - November 2019Citing easier access to capital and closer alignment to US peers, Encana Corp. said it expects to redomicile in the US in early 2020. The move will require consent by the company’s two stock exchanges—TSX and NYSE—as well as two-thirds of shareholders and regulatory approval. The move will also involve a name change to Ovintiv, Inc. and relocating its headquarters from Calgary to Denver, Colorado. In a preliminary proxy statement issued Nov. 6, the company said shareholders will be asked to...
Nov 12, 2019
CS - TransCanada Pipelines closes $1B unsecured debentures sale - October 2019TransCanada PipeLines Ltd. closed on the sale of $1 billion principal amount of unsecured debentures through two tranches on Sept. 16. The TC Energy Corp. subsidiary sold $300 million principal amount of 4.18% unsecured debentures due 2048 at 103.18 and $700 million principal amount of 3% notes due 2029 at 99.71. Interest on the debentures will be payable semi-annually on March 18 and Sept. 18 each year, commencing March 18, 2020. BMO Nesbitt Burns, CIBC World Markets, National Bank, RBC...
Oct 02, 2019
CS - Newly formed company wants to bring Western Canada oil east - October 2019Canadian Prosperity Pipelines Corp., still in its formative stages, is going to attempt to do what Transcanada, now TC Energy, could not with its Energy East initiative: get oil from Hardisty, Alberta, to Saint John, New Brunswick, in the east for export at a marine terminal. The Canadian Prosperity Pipeline Project would cost as much as $23 billion and travel through six provinces. Director of project management Doug MacLellan told Pipeline News the line may have a diameter of 36...
Oct 02, 2019
MI - Newly formed company wants to bring Western Canada oil east - September 2019Canadian Prosperity Pipelines Corp., still in its formative stages, is going to attempt to do what Transcanada, now TC Energy, could not with its Energy East initiative: get oil from Hardisty, Alberta, to Saint John, New Brunswick, in the east for export at a marine terminal. The Canadian Prosperity Pipeline Project would cost as much as $23 billion and travel through six provinces. Director of project management Doug MacLellan told Pipeline News that the line may have a diameter of 36...
Sep 26, 2019
ES - UGI Corp. Highlights - August 20, 2019In early July, UGI Corp. agreed to pay TC Energy $1.275 billion to buy Columbia Midstream Group, a set of five Appalachian gas gathering systems near the Pennsylvania-Ohio border. The transaction involves 240 miles of pipeline, just a portion of the 15,000 miles that TC—then called TransCanada—acquired in 2016 when it bought Columbia Pipeline Group for $13...
Aug 20, 2019
MI - TC Energy raises $2.2B in sale of Ontario power plants - August 2019TC Energy agreed to sell interests in three Ontario gas-fired power plants to Ontario Power Generation for C$2.87 billion ($2.17 billion). The deal brings TC Energy’s expected proceeds from assets sales in 2019 to about C$6.3 billion. OPG will acquire the 683-MW Halton Hills power plant, the 900-MW Napanee generating station, which is nearing completion, and TC Energy’s 50% interest in the 550-MW Portlands Energy Centre. The transaction is expected to close in late 2019, pending...
Aug 15, 2019
A&D - UGI buys Columbia Midstream from TC Energy for $1.3B - July 2019TC Energy will sell Columbia Midstream Group, a set of gas gathering systems
near the Pennsylvania-Ohio border, for $1.275 billion to UGI Energy Services, the
midstream and marketing subsidiary of energy distributor UGI Corp. The transaction,
announced July 2 and expected to close in Q4, brings UGI’s gas midstream
to the wellhead while helping to finance TC’s growth capex projects.
The CMG sale involves 240 miles of pipeline, just a portion of the
15,000 miles that TC—then called...
Jul 18, 2019
CS - TC Energy strikes $1.7B deal to sell Columbia Midstream - July 2019TC Energy agreed to sell Columbia Midstream Group for $1.7 billion (US$1.275
billion) to UGI Energy Services, the midstream and marketing subsidiary of energy
distributor UGI Corp. The transaction, announced July 2 and expected to close in Q4,
brings UGI’s gas midstream to the wellhead while helping to finance TC’s growth capex
projects.The CMG sale involves 240 miles of pipeline, just a portion of the 15,000 miles
that TC, then called Transcanada, acquired in 2016 when it bought...
Jul 10, 2019
MI - TC to sell five Appalachian gas systems to UGI for $1.3B - July 2019TC Energy will sell Columbia Midstream Group, a set of gas gathering systems
near the Pennsylvania-Ohio border, for $1.275 billion to UGI Energy Services, the
midstream and marketing subsidiary of energy distributor UGI Corp. The transaction,
announced late July 2, brings UGI’s gas midstream to the wellhead while helping to
finance TC’s growth capex projects.
The CMG sale involves 240 miles of
pipeline, just a sliver of the 15,000 miles
that TC—then called Transcanada—acquired in 2016 when it...
Jul 03, 2019
CS - TC Energy wins appeal for Keystone XL in US appeals court - June 2019The US Court of Appeals for the Ninth Circuit on June 6 overturned a lower court
injunction that blocked TC Energy from beginning construction on the Keystone XL
pipeline. The company, which changed its name from Transcanada in May, said delays
have already cost it the 2019 construction season.
The court dismissed US District Judge Brian Morris’ injunction, siding with
arguments that the presidential permit allowing the 830,000 bo/d project to
cross the border issued in March made moot...
Jun 19, 2019
MI - TC sells 85% of Alberta oil sands pipeline for $853 million - June 2019TC Energy Corp. agreed to sell an 85% interest in its Northern Courier pipeline to
institutional investor Alberta Investment Management Corp. for C$1.15 billion ($853
million). The price for the 90-km bitumen pipeline in Alberta is the highest paid for a
Canadian pipeline in nearly 12 months.
Formerly named Transcanada, TC is monetizing non-core assets as it
continues to fund its multi-year portfolio of C$30 billion in growth projects
without adding to its growing debt. TC exited Q1 with net...
Jun 11, 2019
MI - TC wins appeal for Keystone XL, but construction stalled - June 2019The US Court of Appeals for the Ninth Circuit on June 6 overturned a lower court
injunction that blocked TC Energy from beginning construction on the Keystone XL
pipeline. The company, which changed its name from TransCanada in May, said delays
have already cost it the 2019
construction season.
The court dismissed US
District Judge Brian Morris’ injunction, siding with arguments that the presidential permit
allowing the 830,000 bo/d project to cross the border issued in March made...
Jun 11, 2019