Enbridge to assume operation of Gray Oak oil pipeline in Texas
The Canadian Press
Enbridge Inc. says it has completed a deal that will see the Calgary-based pipeline giant become operator of the Gray Oak oil pipeline in Texas.
Enbridge says its joint venture merger deal with Houston-based energy company Phillips 66 will result in a single joint venture holding both companies’ indirect ownership interests in Gray Oak, as well as DCP Midstream LP, a Denver-based natural gas company.
I’m happy about this too…PSX my #2 dividend provider after OKE.
I’ll take natural gas & especially NGL’s (propane, butane, ethane) over crude any day.
But I understand ENB …utility-like; fee-based. I used to own some.
PSX will own 43% and have offered DCP holders for the remainder…a low ball offer that should be interesting
PSX gets more leverage from integrated NGL assets gas processing/pipelines/fractionation and with CP Chem —feedstock for ethane cracker / polyethylene.
PSX usually gets compared to refiners (wild swings lately) but over last 18 months basis, using net income: 25% refining; 34% marketing & specialty; 30% Chemical; 29% Midstream (about to be more). I know that adds to <100% but corporate expenses take the 18% away.
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I’m happy about this too…PSX my #2 dividend provider after OKE. I’ll take natural gas & especially NGL’s (propane, butane, ethane) over crude any day.
But I understand ENB …utility-like; fee-based. I used to own some.
PSX will own 43% and have offered DCP holders for the remainder…a low ball offer that should be interesting
PSX gets more leverage from integrated NGL assets gas processing/pipelines/fractionation and with CP Chem —feedstock for ethane cracker / polyethylene.
But I understand ENB …utility-like; fee-based. I used to own some.
PSX will own 43% and have offered DCP holders for the remainder…a low ball offer that should be interesting
I spent many years squeezing my entire vast investment fortune }};-D into two (wife and I) Canadian TFSA (Tax Free Savings Accounts). One requirement is that only Canadian listed stocks are allowed.
My own rules are minimum 4% yield when I buy.
Meanwhile we live on Indexed Federal Government Pensions and haven’t withdrawn a penny from the TFSA accounts in spite of being long retired.
I’m guessing we are all in somewhat different situations?