• Sign up for the Daily Digest E-mail
  • Facebook
  • Twitter
  • LinkedIn

BOE Report

Sign up
  • Home
  • BOE Intel
  • Headlines
    • Latest Headlines
    • Featured Companies
    • Columns
    • Discussions
  • Well Activity
    • Well Licences
    • Well Activity Map
  • Property Listings
  • Land Sales
  • M&A Activity
    • M&A Database
    • AER Transfers
  • Markets
  • Rig Counts/Data
    • CAOEC Rig Count
    • Baker Hughes Rig Count
    • USA Rig Count
    • Data
      • Canada Oil Market Data
      • Canada NG Market Data
      • USA Market Data
      • Data Downloads
  • Jobs

Enbridge raises Line 3 replacement cost estimate by $1 billion

February 12, 20215:26 AM Reuters0 Comments

Enbridge has forecasted higher costs for its Line 3 replacement project citing regulatory and permitting delays, winter construction, and COVID-19 protocols, among other reasons.

The pipeline operator said it estimates capital costs for the Line 3 replacement project, including the Canadian segment already in service, to be $9.3 billion from C$8.2 billion CDN.

The Line 3 replacement project is in the process of doubling its capacity, which will allow it to deliver about 760,000 bpd of crude from Alberta to Superior, Wisc., by the end of this year.

The company reported a 79% jump in fourth-quarter profit, as the pipeline operator shipped higher volumes of crude on its liquids system on the back of a price recovery.

Net income attributable to common shareholders rose to $1.78 billion CDN, or 88 Canadian cents per share, in the quarter ended Dec. 31, from $990 million CDN, or 49 Canadian cents per share, in the third quarter. 29dk2902l

Enbridge

Follow BOE Report
  • Facebook
  • Twitter
  • LinkedIn

Sign up for the BOE Report Daily Digest E-mail

Successfully subscribed

Latest Headlines
  • Petrus Resources announces monthly activity update
  • Alberta to contribute to CCUS after Ottawa commitments
  • Energy bill passes U.S. House, sends to Senate
  • Oil steadies as U.S. crude draw offset by Russian supplies, stronger dollar
  • RCMP arrest five people near natural gas pipeline construction site in northern B.C.

Return to Home
Alberta GasMonthly Avg.
CAD/GJ
Market Data by TradingView

    Report Error







    Note: The page you are currently on will be sent with your report. If this report is about a different page, please specify.

    About
    • About BOEReport.com
    • In the News
    • Terms of Use
    • Privacy Policy
    • Editorial Policy
    Resources
    • App
    • Widgets
    • Notifications
    • Daily Digest E-mail
    Get In Touch
    • Advertise
    • Post a Job
    • Contribute
    • Contact
    • Report Error
    Featured In
    • CamTrader
    • Rigger Talk
    Data Partner
    BOE Network
    © 2023 Stack Technologies Ltd.