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Sunday, 02/21/2016 7:34:35 AM

Sunday, February 21, 2016 7:34:35 AM

Post# of 10728
$ENB - Enbridge (ENB -2.1%) is lower as part of today's broad energy rout, even after reporting better than expected Q4 earnings as record oil shipments on its main pipeline system shielded the company from the collapse in prices.

ENB's Mainline system, which moves most of Canada's crude exports to the U.S., shipped an average of 2.2M bbl/day of oil during Q4, compared with 2.1M a year earlier.

ENB says it will defer C$5B in capex planned for this year and the next to 2018, as the Sandpiper and Line 3 replacement pipeline projects to Wisconsin are delayed to 2019 from 2017 to allow for completion of environmental reviews and permitting in Minnesota.

ENB also says the secured component of its 2015-19 growth capital program totals C$26B, of which ~$8B already has been funded and brought into service through the end of 2015.

Purely My Own Opinion. Do Your Own Due Diligence.

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