Energy Transfer LP (ET)

[roger wilco]

Dakota Access Pipeline can keep flowing for now after new court ruling

Jul. 14, 2020 10:24 PM ET|About: Energy Transfer LP (ET)|By: Carl Surran, SA News Editor

The District of Columbia's U.S. Circuit Court of Appeals has set aside for now a judge's order that Energy Transfer's (NYSE:ET) Dakota Access Pipeline be shut down and emptied of oil by Aug. 5.

The administrative stay is temporary and "should not be construed in any way as a ruling on the merits," but oil can keep flowing through the 570K bbl/day pipeline while the Court considers whether the line should be shut due to permitting issues dating to 2017.

The next major decision will be on whether Energy Transfer wins a stay of the July 6 shutdown order pending the company's appeal; if it wins, the line will continue operating until the appeal is decided, but if it loses, the company could ask the U.S. Supreme Court to intervene.

The $3.8B pipeline already has moved oil from North Dakota to a shipping point in Illinois for three years; Enbridge (NYSE:ENB), Phillips 66 (NYSE:PSX) and Marathon Petroleum (NYSE:MPC) also own minority stakes in DAPL.