TC Energy's (TRP) Liquids Pipeline Spin-Off Creates New Player [Yahoo! Finance]
TC Energy Corporation (TRP)
Last tc energy corporation earnings: 5/1 07:30 am
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Source: Yahoo! Finance
This strategic move is expected to result in the formation of a new entity, South Bow Corp, which would inherit TRP's extensive liquids pipeline assets, including the renowned Keystone pipeline. This spin-off is aimed at reducing the substantial debt of TC Energy and sharpening its focus on natural gas transportation. Overview of the Spin-off Creation of South Bow: South Bow, the newly formed energy infrastructure company, would own nearly 4,900 kilometers of liquid pipelines. These pipelines are critical for transporting oil from Alberta, Canada and parts of the United States to key refining markets in Illinois, Oklahoma and Texas. The centerpiece of South Bow's assets is the Keystone pipeline, capable of transporting 622,000 barrels of oil per day, making it a vital conduit for Canada's crude exports. Strategic Benefits for TC Energy: The spin-off is strategically designed to allow TC Energy and South Bow to maximize the value of their respective assets. TRP's CEO, Francois Po
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TRP
Earnings
- 5/3/24 - Beat
TRP
Sec Filings
- 6/20/24 - Form 11-K
- 6/5/24 - Form 6-K
- 5/16/24 - Form 6-K
- TRP's page on the SEC website