Canadian pipeline operator,
), has affirmed that its Waupisoo Pipeline (Line 18) is back in
operation. The pipeline, which runs between the Cheecham Terminal
and Edmonton, was shut down owing to significant release from the
nearby Line 37 pipeline.
On Jun 22, Enbridge's leak detection system identified a
potential release from Line 37 pipeline, which connects
facilities in the Long Lake area to Enbridge's Terminal in
Cheecham, Alberta. The company believes that the leakage was
mainly due to ground movement caused by torrential rainfall in
north Alberta. Consequently, for precautionary measures, Enbridge
closed all the pipelines in the area, including Line 18.
However, according to Enbridge, the Alberta Energy Regulator
permitted the restart of Line 18 on Jun 25. Moreover, Athabasca
Pipeline's (Line 19) southern part, which runs between Cheecham
and Hardisty, Alberta, was back to service on Jun 23, 2013.
Enbridge reveals that it will conduct further examinations on the
Line 37 incident area, in order to safely resume the operations
of the other lines in the affected region. Moreover, the company
has been bearing a cost of $1 million per day, owing to the
shutdown of all the pipelines adjacent to the Line 37 pipeline.
Enbridge is a leader in energy transportation and distribution in
North America and internationally. As a transporter of energy,
Enbridge operates the world's longest crude oil and liquids
pipeline system in Canada and the United States. The company also
has international operations and growing involvement in the
natural gas transmission and midstream businesses.
Enbridge currently retains a Zacks Rank #3 (Hold), implying
that it is expected to perform in line with the broader U.S.
equity market over the next 1 to 3 months.
CHENIERE ENERGY (CQP): Get Free Report
ENBRIDGE INC (ENB): Free Stock Analysis
OILTANKING PTNR (OILT): Free Stock Analysis
PEMBINA PIPELN (PBA): Free Stock Analysis
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Meanwhile, one can look at
Cheniere Energy Partners LP
Oiltanking Partners LP
Pembina Pipeline Corp
) as good buying options. These oil production and pipeline
operators - sporting a Zacks Rank #1 (Strong Buy) - have solid
secular growth stories with the potential to rise significantly
from the current levels.