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TransCanada (TRP) to Proceed With Montney Pipeline Project
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Calgary-based midstream company TransCanada Corporation (TRP - Free Report) recently sought a regulatory approval as it plans to move forward with the C$1.4 billion worth North Montney Mainline Pipeline Project.
TransCanada had already been granted preliminary federal and provincial approvals, subject to positive financial investment decision for the proposed Pacific Northwest LNG (or the PNW) Project. The company has now filed a variance application with the National Energy Board to proceed with the construction of the pipeline project ahead of schedule, prior to the investment decision on the PNW project.
The variance seeks the approval to construct pre-LNG pipeline and facilities consisting of 200 kilometers of pipelines. The company has also secured 20-year commercial contracts with 11 shippers for about 1.5 billion cubic feet per day of service. Subject to the approval of the variance, TransCanada will commence construction on the pipeline in the first half of the 2018 and will become operational over a two-year period beginning Apr 2019.
Investment in the North Montney Mainline Project will help to create a key natural gas infrastructure in British Columbia and support further upstream investments as well as provide economic benefits to the government.
Zacks Rank & Key Picks
Headquartered in Canada, TransCanada is engaged in the natural gas transmission and power services. The company’s pipeline transports the majority of Western Canada's natural gas to growing markets in Canada and the U.S. Currently TransCanada carries a Zacks Rank #2 (Buy).
The company has outperformed the Zacks categorized Oil & Gas Production and Pipelines industry over the last two years. During the aforesaid period, shares of TransCanada rallied almost 4% while the broader industry declined around 25%.
Antero Resources reported a positive earnings surprise in each of the last four quarters, the average being 239.10%.
Pioneer Natural Resources is expected to generate a growth of 1118% in its earnings in 2017.
Imperial Oil posted positive average earnings surprise of 31.47% in the trailing four quarters.
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TransCanada (TRP) to Proceed With Montney Pipeline Project
Calgary-based midstream company TransCanada Corporation (TRP - Free Report) recently sought a regulatory approval as it plans to move forward with the C$1.4 billion worth North Montney Mainline Pipeline Project.
TransCanada had already been granted preliminary federal and provincial approvals, subject to positive financial investment decision for the proposed Pacific Northwest LNG (or the PNW) Project. The company has now filed a variance application with the National Energy Board to proceed with the construction of the pipeline project ahead of schedule, prior to the investment decision on the PNW project.
The variance seeks the approval to construct pre-LNG pipeline and facilities consisting of 200 kilometers of pipelines. The company has also secured 20-year commercial contracts with 11 shippers for about 1.5 billion cubic feet per day of service. Subject to the approval of the variance, TransCanada will commence construction on the pipeline in the first half of the 2018 and will become operational over a two-year period beginning Apr 2019.
Investment in the North Montney Mainline Project will help to create a key natural gas infrastructure in British Columbia and support further upstream investments as well as provide economic benefits to the government.
Zacks Rank & Key Picks
Headquartered in Canada, TransCanada is engaged in the natural gas transmission and power services. The company’s pipeline transports the majority of Western Canada's natural gas to growing markets in Canada and the U.S. Currently TransCanada carries a Zacks Rank #2 (Buy).
The company has outperformed the Zacks categorized Oil & Gas Production and Pipelines industry over the last two years. During the aforesaid period, shares of TransCanada rallied almost 4% while the broader industry declined around 25%.
Other well-ranked players from the broader industry include Antero Resources Corporation (AR - Free Report) , Pioneer Natural Resources Company (PXD - Free Report) and Imperial Oil Limited (IMO - Free Report) . All the three companies sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1Rank stocks here.
Antero Resources reported a positive earnings surprise in each of the last four quarters, the average being 239.10%.
Pioneer Natural Resources is expected to generate a growth of 1118% in its earnings in 2017.
Imperial Oil posted positive average earnings surprise of 31.47% in the trailing four quarters.
5 Trades Could Profit "Big-League" from Trump Policies
If the stocks above spark your interest, wait until you look into companies primed to make substantial gains from Washington's changing course. Today Zacks reveals 5 tickers that could benefit from new trends like streamlined drug approvals, tariffs, lower taxes, higher interest rates, and spending surges in defense and infrastructure. See these buy recommendations now >>