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TransCanada (TRP) to Finish Southern Portion of Keystone XL by October

By  +Follow October 3, 2013 12:37PM
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TransCanada Corp. (TRP) said on Thursday that the southern portion of its massively unpopular Keystone XL pipeline would be completed by the end of the end of the month, and will begin transporting oil within 30 days.

The Gulf Coast portion of the pipeline will carry oil from Cushing, Oklahoma, the physical delivery location for West Texas Intermediate contracts traded on the NYMEX, to Nederland, Texas.

TransCanada has been working on the Gulf Coast pipeline, which has a projected capacity of over 800,000 barrels per day, for over a year now. The $2.3 billion project constitutes one third of the overall Keystone XL gambit, which has been in limbo since meeting stiff resistance from communities on both sides of the US-Canada border.

Despite TransCanada’s promises of the ostensible jobs that could be created as a result of the pipline’s construction, as well as guarantees about environmental safety, many residents of towns and cities along the northern portion of the Keystone route have concerns about the notoriously dirty tar sands oil that it would transport from Canada all the way down to the Gulf of Mexico for export.

Furthermore, while TransCanada and other supporters of the project have consistently tried to reassure its detractors by claiming that oil prices would drop across the Midwestern US as a result, it is not even clear if the company’s executives actually believe this themselves.

Indeed, it is no secret that one of the main goals of the pipeline is to increase demand for Canadian crude oil, and raise prices high enough to be competitive with Mexican and US crudes that also ship out of the Gulf Coast.

The US portion of Keystone XL has been under review for some six years now, with President Barack Obama having nixed the project last year amid enormous pressure from both supporters and opponents of the pipeline.

While the announcement could be considered somewhat of a victory for the Canadian gas utility, TransCanada admits that any construction in the absence of the full route would be relatively pointless. Company spokesman Les Cherwenuk told Bloomberg that “If something were to occur, then you build a smaller pipeline, but at this point in time, just building Keystone XL based on Bakken contract supplies is not attractive.”

Shares for TransCanada were down 1.35 percent to $43.13 heading in to Thursday’s close.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of equities.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions.


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Results for trp
MJ
18 Sep 14 22:01:03
$IPL bumped up to all new high... possibly from the $TRP "rumour"? $37.99 +$0.94 +2.54%
ollielindsay
18 Sep 14 21:19:38
Unusual Vol Up Sept 18: $TRP $MSCI $PUK $VSI $APD $AOL $DD $AMBA $EPAM $EEP $GNC $KSS $CAG
Stock Signaling
18 Sep 14 21:01:15
Movers and Shakers: Making Range Advances: $GNC $SLM $TRP $ARNA $VVUS $FHN $ONTY $CY $SD $AIG $FANG $JPM $MCHX $MSCI $PWE #analyst #nasdaq
Sheeraz Raza
18 Sep 14 19:45:55
RT @valuewalk: TransCanada Corp could be target of activist U.S. hedge funds — including Daniel Loeb’s Third Point http://t.co/QNtBkCBzek $…
ValueWalk
18 Sep 14 19:41:50
TransCanada Corp could be target of activist U.S. hedge funds — including Daniel Loeb’s Third Point http://t.co/QNtBkCBzek $TA.CA $TRP
Professor_money
18 Sep 14 19:24:33
$TRP daily chart http://t.co/Kgcb6UNFqo
MJ
18 Sep 14 18:45:01
$TRP EXCLUSIVE-TransCanada eyed by U.S. investor activists -sources http://t.co/SAGNPBDvpP @reuters
BlackCabbieTrader
18 Sep 14 18:10:15
19/9/14 Watch List Part 3 $TRP $TUES $VFC $VOYA $WFC $XRS $ZTS
Scaling Green
18 Sep 14 17:37:01
Keystone pipeline cost expected to double, TransCanada CEO says $TRP http://t.co/SpijEBF9jT via @WSJ
Tom Loffman
18 Sep 14 16:52:30
Biggest gainers today large caps: $JD 5.16% $KEP 5.00% $ERIC 4.66% $CAG 4.59% $BIDU 4.28% $TRP 3.76% $LVLT 3.62% $EEP 3.48% $SWKS 3.44%
Cassandra Sweet
18 Sep 14 16:09:41
Keystone pipeline cost expected to double, TransCanada CEO says $TRP http://t.co/LWo2lPKwNP via @AmyAHarder
NASDAQ
18 Sep 14 15:40:03
$TRP - Canada, U.S. Sign Deal to Boost Energy Cooperation http://t.co/fBSLmrSbtb
Rita Devlin Marier
18 Sep 14 14:56:51
RT @CarlosCaminada: TransCanada shares jump most since 2008 on hedge fund activism speculation http://t.co/ea2XWvWq4L $TRP
Divya Balji
18 Sep 14 14:56:24
RT @CarlosCaminada: TransCanada shares jump most since 2008 on hedge fund activism speculation http://t.co/ea2XWvWq4L $TRP
dominic
18 Sep 14 14:53:01
$TRP up a/h I see nothing. I am long
Carlos Caminada
18 Sep 14 14:46:53
TransCanada shares jump most since 2008 on hedge fund activism speculation http://t.co/ea2XWvWq4L $TRP
Ben Dummett
18 Sep 14 14:07:59
Keystone pipeline cost expected to double, TransCanada CEO says $TRP http://t.co/PWVfwfNaaE via @WSJ
MarketCurrents
18 Sep 14 13:40:57
Keystone pipeline cost expected to double, TransCanada's Girling says http://t.co/N1UGVz0FsI $TRP
Bennie An
18 Sep 14 13:31:01
RT @amberkanwar: Dan Loeb of Third Point reportedly takes stake in $TRP. His last major position in Canadian stock was $BBRY and he didnt …
Amber Kanwar
18 Sep 14 13:30:16
What would an activist try to achieve at TransCanada? Full story at @BNN $TRP http://t.co/No3RK8cjnQ http://t.co/Qpu6Vb1X7C
Max Fawcett
18 Sep 14 13:21:39
RT @ElenaCherney: $5.4 billion price tag on Keystone to double, TransCanada CEO says $TRP http://t.co/CqICFUrdjC via @WSJ
Mark Seed
18 Sep 14 13:20:08
TransCanada eyed by U.S. investor activists: sources http://t.co/67N3adR0dI $TRP
Moody9001
18 Sep 14 13:11:43
$TRP nice one point short on it , http://t.co/BDzjs0FEhK
Elena Cherney
18 Sep 14 13:05:02
$5.4 billion price tag on Keystone to double, TransCanada CEO says $TRP http://t.co/CqICFUrdjC via @WSJ
Stock Signaling
18 Sep 14 13:01:18
Range/Volume Advances: $TRP $FHN $VVUS $DD $ERIC $EEP $ONTY $FANG $NQ $MCHX $MSCI $CIDM $PWE $APD $KSS http://t.co/Vtx6dLy0Nw #swingtrading
Market Newswire
18 Sep 14 13:01:00
Keystone Pipeline Cost Expected to Double, TransCanada CEO Says - WSJ - http://t.co/zTo0rrd0nP $TRP #stocks #newsfeed #trading
Divya Balji
18 Sep 14 12:58:44
RT @NadiaSpeaks: EXCLUSIVE-TransCanada eyed by U.S. investor activists: sources http://t.co/75O98qA8ql via @reuters $TRP #corpgov
Divya Balji
18 Sep 14 12:56:18
RT @WSJcanada: #Keystone pipeline cost expected to double, TransCanada CEO says $TRP http://t.co/fO3Y7FHCGR via @WSJ
WSJ Canada
18 Sep 14 12:56:00
#Keystone pipeline cost expected to double, TransCanada CEO says $TRP http://t.co/fO3Y7FHCGR via @WSJ
Ariel Silahian
18 Sep 14 12:53:23
Algorithmic trading CLOSING Sep/18 $TRP(3.3 %) $DRH(0.1 %) $MCRL(2.0 %) $PLL(0.0 %)
Ariel Silahian
18 Sep 14 12:49:41
Algorithmic trading CLOSING Sep/18 $XL(0.8 %) $CFN(0.9 %) $LNC(1.9 %) $HE(2.6 %) $TRP(3.4 %)
Ariel Silahian
18 Sep 14 12:49:40
Algorithmic trading CLOSING Sep/18 $AET(1.9 %) $AMBA(8.6 %) $HNT(3.5 %) $PLL(0.0 %) $HNT(2.1 %) $DORM(-0.2 %) $TRP(2.4 %) $FCH(1.8 %)
Freefdawatchlist
18 Sep 14 12:43:49
http://t.co/iFYkqucKGq $TRP Trade: Trading the crossover http://t.co/PX71e2A6RN
Bruce Campbell
18 Sep 14 12:43:07
RT @amberkanwar: Dan Loeb of Third Point reportedly takes stake in $TRP. His last major position in Canadian stock was $BBRY and he didnt …
Ariel Silahian
18 Sep 14 12:42:37
Algorithmic trading CLOSING Sep/18 $AOD(0.2 %) $DRH(0.2 %) $TRP(1.9 %) $LNC(2.8 %) $AMBA(16.0 %) $PLL(0.0 %) $XL(0.8 %) $CFN(0.9 %)
Ariel Silahian
18 Sep 14 12:42:37
Algorithmic trading CLOSING Sep/18 $EMN(2.7 %) $PLL(0.1 %) $R(2.2 %) $FFIV(1.5 %) $PVH(1.1 %) $TXN(1.7 %) $TRP(2.9 %) $AET(0.3 %)
Ariel Silahian
18 Sep 14 12:42:37
Algorithmic trading CLOSING Sep/18 $XL(1.0 %) $TRP(4.0 %) $CFN(0.5 %) $VRTX(2.7 %) $AET(2.0 %) $MDR(1.2 %) $LNC(1.9 %) $PLL(0.6 %)
Boyd Erman
18 Sep 14 12:39:31
RT @amberkanwar: Dan Loeb of Third Point reportedly takes stake in $TRP. His last major position in Canadian stock was $BBRY and he didnt …
Lizzy
18 Sep 14 12:34:29
RT @amberkanwar: Dan Loeb of Third Point reportedly takes stake in $TRP. His last major position in Canadian stock was $BBRY and he didnt …
Freefdawatchlist
18 Sep 14 12:33:13
http://t.co/iFYkqucKGq $TRP Short at 56.69 Close at 56.03
Amber Kanwar
18 Sep 14 12:32:45
Dan Loeb of Third Point reportedly takes stake in $TRP. His last major position in Canadian stock was $BBRY and he didnt say a word
Ian Vandaelle
18 Sep 14 12:30:55
My reaction to Reuters report saying Dan Loeb's Third Point is amassing a stake in TransCanada $TRP http://t.co/6DqEgldERN
Amber Kanwar
18 Sep 14 12:30:31
RT @campbellandlee: $TRP Love the rumours out there, it can only help the group including $ENB on investor day on Sept 30th....
Ryan F
18 Sep 14 12:25:07
RT @campbellandlee: $TRP Love the rumours out there, it can only help the group including $ENB on investor day on Sept 30th....
Chester Dawson
18 Sep 14 12:24:13
@AmyAHarder reports Keystone pipeline cost expected to double, according to TransCanada CEO $TRP #KXL http://t.co/NnPozo1TMG via @WSJ
The Fly
18 Sep 14 12:23:37
$TRP TransCanada shares now up nearly 6%, near highs of session: Full Story http://t.co/Njae2Ie4dt
Option Runners
18 Sep 14 12:23:13
$TRP flying >> http://t.co/xjtrz6jrdO
Bruce Campbell
18 Sep 14 12:19:53
$TRP Love the rumours out there, it can only help the group including $ENB on investor day on Sept 30th....
Trading Hub
18 Sep 14 12:19:25
+$2.60/share on $TRP.. Congrats!
Emil Gafarov
18 Sep 14 12:16:51
Loeb to shake up $TRP.
				
				
By  +Follow October 3, 2013 12:37PM
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