We use cookies to understand how you use our site and to improve your experience.
This includes personalizing content and advertising.
By pressing "Accept All" or closing out of this banner, you consent to the use of all cookies and similar technologies and the sharing of information they collect with third parties.
You can reject marketing cookies by pressing "Deny Optional," but we still use essential, performance, and functional cookies.
In addition, whether you "Accept All," Deny Optional," click the X or otherwise continue to use the site, you accept our Privacy Policy and Terms of Service, revised from time to time.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
ENB and ET Announce Open Season for Southern Illinois Connector
Read MoreHide Full Article
Key Takeaways
ET and ENB propose 200K bpd capacity boost via upgrades and new segment linking IL oil hubs.
The Southern Illinois Connector targets higher crude flow from Flanagan, IL, to Gulf Coast markets.
The open season will assess shipper interest in securing space for rising Canadian crude exports.
Enbridge Inc. (ENB - Free Report) and partner Energy Transfer (ET - Free Report) , two of the leading midstream energy companies, have mentioned that they are considering an expansion of pipeline capacity to transport incremental volumes of crude from the Western Canadian Sedimentary Basin to markets along the U.S. Gulf Coast and oil hubs located in Illinois.
The project, named Southern Illinois Connector, is expected to add 200,000 barrels per day of additional capacity, achieved through the upgradation of the existing pipeline. This implies that the project would increase the crude transportation capacity along the system. Additionally, the project involves building a new segment that would connect the oil hubs of Wood River and Patoka in Illinois.
Enbridge mentioned that the pipeline expansion is aimed at meeting the rising industry demand for increased pipeline access from Flanagan, IL, to the U.S. Gulf Coast. The construction of the new pipeline segment is intended to support the increase in crude oil volumes from Canada. The open season intends to measure market interest in enhancing crude flows from Canada to the United States.
ENB and ET have not released the exact details of the project yet. The open season will close on July 18, 2025. During the open season, interested shippers can demonstrate whether they would like to reserve pipeline capacity as per their needs.
Per a Bloomberg report, ENB’s Mainline system could facilitate the transportation of Canadian crude oil to the Patoka Hub. The Southern Illinois Connector would connect to Energy Transfer’s Crude Oil Pipeline at the Patoka Hub, which transports crude to an oil terminal in Nederland, TX. The terminal further supplies refineries in the Port Arthur region.
Zacks Rank & Key Picks
Currently, both ENB and ET carry a Zacks Rank #3 (Hold).
Flotek Industries specializes in green chemistry, which provides innovative solutions aimed at reducing the environmental impact of the energy industry. Flotek develops specialty chemicals tailored for both domestic and international energy producers, as well as oilfield service companies. These chemicals not only help reduce the environmental impact of hydrocarbon production but also lower operational costs.
Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading offshore equipment and technology solutions provider to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
ENB and ET Announce Open Season for Southern Illinois Connector
Key Takeaways
Enbridge Inc. (ENB - Free Report) and partner Energy Transfer (ET - Free Report) , two of the leading midstream energy companies, have mentioned that they are considering an expansion of pipeline capacity to transport incremental volumes of crude from the Western Canadian Sedimentary Basin to markets along the U.S. Gulf Coast and oil hubs located in Illinois.
The project, named Southern Illinois Connector, is expected to add 200,000 barrels per day of additional capacity, achieved through the upgradation of the existing pipeline. This implies that the project would increase the crude transportation capacity along the system. Additionally, the project involves building a new segment that would connect the oil hubs of Wood River and Patoka in Illinois.
Enbridge mentioned that the pipeline expansion is aimed at meeting the rising industry demand for increased pipeline access from Flanagan, IL, to the U.S. Gulf Coast. The construction of the new pipeline segment is intended to support the increase in crude oil volumes from Canada. The open season intends to measure market interest in enhancing crude flows from Canada to the United States.
ENB and ET have not released the exact details of the project yet. The open season will close on July 18, 2025. During the open season, interested shippers can demonstrate whether they would like to reserve pipeline capacity as per their needs.
Per a Bloomberg report, ENB’s Mainline system could facilitate the transportation of Canadian crude oil to the Patoka Hub. The Southern Illinois Connector would connect to Energy Transfer’s Crude Oil Pipeline at the Patoka Hub, which transports crude to an oil terminal in Nederland, TX. The terminal further supplies refineries in the Port Arthur region.
Zacks Rank & Key Picks
Currently, both ENB and ET carry a Zacks Rank #3 (Hold).
Some better-ranked stocks from the energy sector are Flotek Industries Inc. (FTK - Free Report) and Oceaneering International (OII - Free Report) . While Flotek Industries sports a Zacks Rank #1 (Strong Buy) at present, Oceaneering International carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Flotek Industries specializes in green chemistry, which provides innovative solutions aimed at reducing the environmental impact of the energy industry. Flotek develops specialty chemicals tailored for both domestic and international energy producers, as well as oilfield service companies. These chemicals not only help reduce the environmental impact of hydrocarbon production but also lower operational costs.
Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading offshore equipment and technology solutions provider to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.