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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
Stock Moo
24 Oct 14 15:36:46
$trp: Environmental Assessment Certificate issued for TransCanada's Coastal GasLink Pipeline Project http://t.co/NzX2Bt6Ebo
Marches Tau
24 Oct 14 13:40:24
TransCanada Sees Significant Decline in Short Interest $TRP http://t.co/17hlTQspVZ via @RatingsNetwork
Stock Moo
24 Oct 14 12:36:46
$trp: White House hopes all politics stays local for Keystone XL http://t.co/euwQS5VATC
Stock Moo
24 Oct 14 06:55:56
$trp: TC PipeLines, LP Announces 2014 Third Quarter Cash Distribution and Financial Results http://t.co/XyJyLJUxWN
Brian Bergson
24 Oct 14 05:58:07
4 Stocks With Impressive Gross Margins: TransCanada Corporation $TRP, NiSource $NI, CMS Energy $CMS http://t.co/jVUBvtWdcX
InterCooler
24 Oct 14 01:38:54
Short Interest in TransCanada Decreases By 47.3% $TRP http://t.co/KIXY4mAbIh
US Banking News
24 Oct 14 00:11:42
TransCanada Sees Significant Decline in Short Interest $TRP http://t.co/Z4FLEFXumw
Sleek Money
24 Oct 14 00:07:48
TransCanada Sees Significant Decline in Short Interest $TRP http://t.co/wx3t6Qkbhc
Market Int Center
23 Oct 14 08:59:13
Potential TransCanada $TRP Trade Has 9.27% Downside Protection ( http://t.co/HYfF7SQv78 )
Crystal
23 Oct 14 06:35:50
@blerghhh Do you own $TRP?
WKRB News
23 Oct 14 06:25:51
TransCanada Assigned BBB+ Credit Rating by Morningstar $TRP http://t.co/sp0z10yg8K
Crystal
22 Oct 14 14:03:54
@is_matrix Yes, I like $TRP, I've owned it in the past.
Sicarius
22 Oct 14 13:50:35
@nachoswithsalsa I might add some $TRP I really don't think Canada is going to be taken over...☺
Crystal
22 Oct 14 12:44:14
@PC_Trades @IncomeTrader @Kingston_Trader I bought $TRP today
efinancialpub.com
22 Oct 14 09:32:20
RT @SeekingAlpha: Oil Companies Sensitive To The Oil Price Decline And Those That Are Not http://t.co/TgEFLuEt0Y $BP $CVE $CVX $ENB $KMI $S…
Seeking Alpha
22 Oct 14 09:14:23
Oil Companies Sensitive To The Oil Price Decline And Those That Are Not http://t.co/TgEFLuEt0Y $BP $CVE $CVX $ENB $KMI $SU $TRP $XOM
Crystal
22 Oct 14 08:22:05
Bought 200 shares of $TRP and sold Dec $58 calls for .55
Crystal
22 Oct 14 08:01:36
@is_matrix I was planning to buy $TRP. I already hold many others in that sector.
Sicarius
22 Oct 14 08:00:07
@nachoswithsalsa I sold $CNI it was up this morning and they missed ER and switched to $TRP so far seems like a good move.
Crystal
22 Oct 14 07:55:30
@is_matrix Cool! I like $TRP.
Sicarius
22 Oct 14 07:54:37
@nachoswithsalsa Well I got some $TRP here ...seems cheap to me now.
Energize Minnesota
22 Oct 14 06:16:15
.@Enbridge Inc vs @TransCanada Corporation: Should You Buy, Sell, or Hold? $TRP $ENB https://t.co/JrtoT0SEhH
Energize Minnesota
22 Oct 14 06:12:19
The @TransCanada to Issue Third Quarter 2014 Financial Results November 4 $TRP http://t.co/RchJqIVzt0
Nicolas Van Praet
21 Oct 14 18:34:41
RT @JeffALewis: Meanwhile: TransCanada has ‘work to do’ to win Quebec approval for Energy East, @NickVanPraet reports http://t.co/JTNSDLFfk…
Andrew Leach
21 Oct 14 16:39:27
RT @JeffALewis: Meanwhile: TransCanada has ‘work to do’ to win Quebec approval for Energy East, @NickVanPraet reports http://t.co/JTNSDLFfk…
Andrew Leach
21 Oct 14 16:37:43
RT @JeffALewis: Gaz Metro CEO says $TRP project will hurt natural gas consumers http://t.co/ljkLxirsOD
Jeff Lewis
21 Oct 14 16:28:42
Meanwhile: TransCanada has ‘work to do’ to win Quebec approval for Energy East, @NickVanPraet reports http://t.co/JTNSDLFfkt $TRP
Jeff Lewis
21 Oct 14 16:26:32
Gaz Metro CEO says $TRP project will hurt natural gas consumers http://t.co/pSR0D21BOl
Sicarius
21 Oct 14 13:21:12
@nachoswithsalsa You know anything about $TRP?
alexnussbaum
21 Oct 14 11:58:52
Nat-gas dispute adds $1B to costs for TransCanada's #KeystoneXL alternative. http://t.co/Ztyomae8ad By @rpenty & @amayeda $TRP
Steven Frank
21 Oct 14 07:55:19
TransCanada’s Keystone Stand-in Faces $1 Billion Gas Feud http://t.co/vPMdvbSdYl via @BloombergNews $trp $enb
Jameson Berkow
21 Oct 14 07:11:42
Delays to @TransCanada regulatory filing for Energy East? No way, company tells me. Find out where the rumours came from on @BNN next $TRP
Simon Maughan
21 Oct 14 05:04:46
The worst may be over for #Oil as uncertainty declines. $FST $ETE $TLM $TRP https://t.co/oR0WTkO1z5
Stockchase.com
20 Oct 14 20:00:39
Trans-Canada-Corp is Top Pick at StockChase http://t.co/Hhir1rKKcS #stockaction $TRP-T
Stockchase.com
20 Oct 14 20:00:33
Keystone XL does not matter anymore. Growth of the company will happen ...Trans-Canada-Corp http://t.co/DA5yYNBrDW #stocks $TRP-T
Stockchase.com
20 Oct 14 16:00:39
Trans-Canada-Corp is Top Pick at StockChase http://t.co/Hhir1rKKcS #stockaction $TRP-T
Stockchase.com
20 Oct 14 16:00:34
Keystone XL does not matter anymore. Growth of the company will happen ...Trans-Canada-Corp http://t.co/DA5yYNBrDW #stocks $TRP-T
Market Int Center
20 Oct 14 05:25:08
Potential TransCanada $TRP Trade Has 8.34% Downside Protection ( http://t.co/CNq2gHC53k )
Brian Bergson
18 Oct 14 09:15:12
The #KeystoneXL Oil Pipeline Owner Wins Climate Leadership Award $TRP @TransCanada http://t.co/WKJ9tfHoZr
Energize Minnesota
18 Oct 14 08:34:20
Upcoming Earning Releases, @TransCanada up +0.41% $TRP http://t.co/6FUQb8Lei0
Media Sentiment
17 Oct 14 12:34:58
$TRP received a new alert. Find out why at http://t.co/5udYd0Ofs6 #stocks #daytrading #trading #mkt #NYSE #NASDAQ #markets 429
Market Int Center
17 Oct 14 12:30:59
TransCanada $TRP Showing Bearish Technicals With Support At $43.23 ( http://t.co/7V7q32f4Jb )
US_proptrader
17 Oct 14 09:57:39
$EXTR $GLNG $INO $MACK $P $SPWR $TEX $TKMR $TRP autocharts @ http://t.co/hj7PGeTQk3
4-traders.com
17 Oct 14 06:20:08
TransCanada : Upcoming Earning Releases, Signing of MOU, and Transfer of Ownership - Research Reports on Ne... http://t.co/y6TaMNKl9s $TRP
MJ
17 Oct 14 04:01:05
$TRP TransCanada pipeline conversion faces building pushback in Quebec http://t.co/Pue678uIs3
				
				
By  +Follow October 3, 2013 12:37PM
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