Crude By Rail. James Cairns Vice President, Petroleum and Chemicals June 6 th, COQA

Size: px
Start display at page:

Download "Crude By Rail. James Cairns Vice President, Petroleum and Chemicals June 6 th, 2013 - COQA"

Transcription

1 Crude By Rail James Cairns Vice President, Petroleum and Chemicals June 6 th, COQA

2 FORWARD-LOOKING STATEMENTS The financial results in this presentation were determined on the basis of U.S. GAAP. Please refer to the website for the reconciliation of certain non- GAAP measures to comparable GAAP measures. To the extent we have provided guidance which are non-gaap financial measures, we may not be able to provide a reconciliation to the GAAP measures, due to unknown variables and uncertainty related to future results. Certain information included in this presentation constitutes forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995 and under Canadian securities laws. CN cautions that, by their nature, these forward-looking statements involve risks, uncertainties and assumptions. The Company cautions that its assumptions may not materialize and that current economic conditions render such assumptions, although reasonable at the time they were made, subject to greater uncertainty. Such forward-looking statements are not guarantees of future performance and involve known and unknown risks, uncertainties and other factors which may cause the actual results or performance of the Company or the rail industry to be materially different from the outlook or any future results or performance implied by such statements. Key assumptions used in determining forward-looking information are set forth below. Key assumptions CN has made a number of economic and market assumptions in preparing its 2013 outlook. The Company is forecasting that North American industrial production for the year will increase by about 2.0 per cent. CN also expects U.S. housing starts to be in the range of 950,000 units and U.S. motor vehicles sales to be approximately 15 million units. In addition, CN is assuming that 2013/2014 grain crop production in both Canada and the U.S. will be in-line with their respective five-year averages. With respect to the 2012/2013 crop, production in Canada was slightly above the five-year average while production in the U.S. was below the five-year average. With these assumptions, CN assumes carload growth of three to four per cent, along with continued pricing improvement above inflation. CN also assumes the Canadian- U.S. exchange rate to be around parity for 2013 and that the price of crude oil (West Texas Intermediate) for the year to be in the range of US$90-$100 per barrel. In 2013, CN plans to invest approximately C$1.9 billion in capital programs, of which more than C$1 billion will be targeted on track infrastructure to maintain a safe and fluid railway network. In addition, the Company will invest in projects to support a number of productivity and growth initiatives. Important risk factors that could affect the forward-looking statements include, but are not limited to, the effects of general economic and business conditions, industry competition, inflation, currency and interest rate fluctuations, changes in fuel prices, legislative and/or regulatory developments, compliance with environmental laws and regulations, actions by regulators, various events which could disrupt operations, including natural events such as severe weather, droughts, floods and earthquakes, labor negotiations and disruptions, environmental claims, uncertainties of investigations, proceedings or other types of claims and litigation, risks and liabilities arising from derailments, and other risks detailed from time to time in reports filed by CN with securities regulators in Canada and the United States. Reference should be made to Management s Discussion and Analysis in CN s annual and interim reports, Annual Information Form and Form 40-F filed with Canadian and U.S. securities regulators, available on CN s website, for a summary of major risk factors. CN assumes no obligation to update or revise forward-looking statements to reflect future events, changes in circumstances, or changes in beliefs, unless required by applicable Canadian securities laws. In the event CN does update any forward-looking statement, no inference should be made that CN will make additional updates with respect to that statement, related matters, or any other forward-looking statement.

3 Balanced Portfolio Q Intermodal 20% Petroleum and Chemicals 15% Crude & Condensate 4% Grain and Fertilizers 16% Forest Products 14% Metals and Minerals 11% Other Revenues 8% Coal 7% Automotive 5% This is CN Crude is a Relatively Small Component of CN s Traffic Mix Based on Q revenues

4 Creating Capacity for Growth Investing smartly to improve network resilience and drive productivity Speed and train length create network capacity New detour route on Prairie North Line (PNL) Additional long sidings increasing capacity New sections of doubletrack improving network resilience Increasing Symington Yard capacity Increasing capital envelope by C$100M this year 4

5 Monthly Loading/Unloading Avg Cars>24 hrs Creating Capcity- Rateability Pipeline Management Initiative Increased Volumes Consistent Dwell Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Mar-10 Jun-10 Sep-10 Dec-10 Mar-11 Jun-11 Sep-11 Dec-11 Mar-12 Jun-12 Sep-12 Dec-12 Cars Loaded/Unloaded Cars Dwelling >24 hours Customer able to accept 44% higher volumes with 33% lower dwell times

6 CN s Commitment to Safety is Unwavering Railroads have a tremendous safety record for moving hazardous materials, including crude oil percent of rail hazmat shipments reach their destination without a release caused by a train accident The federal governments (Canada and U.S.) have comprehensive regulations covering the safety and security of the movement of hazardous materials by rail including the U.S. DOT, Federal Railroad Administration (FRA), Pipeline and Hazardous Materials Safety Administration (PHMSA), Transportation Security Administration (TSA) and Transport Canada (TC) CN 2013 capital program of about $1.9B with more than C$1 billion targeted on track infrastructure CN FRA Accident Ratio (accident rate per million train miles) CN FRA Injury Ratio (injury frequency rate per 200,000 work hours)

7 Rail Does Not Preclude Pipe 7

8 Benefits of Shipping Crude by Rail Lower capital cost / lower risk Real market access right now Short lead time from concept to shipment Dispatchability (not locked into one geographic pocket) Scalability grow into a pipeline project 8 8 8

9 Why Rail, Why Now First wave of CBR borne out of pipeline capacity constraints Second wave driven by crude price differentials Brent versus WTI Current wave driven by pure rail economics for heavy crudes Modeling Period Large Volume Firm Commitment Pipeline Small Volume Rail (17% Condensate) Bitumen Netback Bitumen Netback Diluent Haulback Netback + Haulback Trailing 1 Year $39.60 $64.91 $5.58 $70.49 Trailing 3 Year $46.78 $55.55 $1.83 $57.38 Since Jan 2007 $46.83 $45.55 $3.95 $49.50

10 30% 70% Pipelines ship dilbit, refineries buy bitumen Bitumen by rail Dilbit by pipeline

11 CN directly overlays the major heavy crude producing regions (Peace River, Athabasca, Cold Lake) Strong presence in the Canadian Bakken light crude region, with 3 operating facilities and 2 more in development PEACE RIVER Roma Sexsmith Mitsue Whitecourt High Level ATHABASCA Bruderheim East Edmonton Mannville Islay Lloydminster Wainwright Lashburn Unity Kindersley Lynton Cheecham COLD LAKE Operating Distribution Centers Under Development Future Development CN s Unique Franchise Close proximity to AB, SK and MB production and pipe line hubs Regina

12 Direct Access to Eastern Canada Consumers and Tidewater Tracy Montreal Saint John Limoilou Saint-Romuald Dartmouth Physical access to all Eastern Canada refineries; Sarnia ON, Nanticoke ON, Saint John NB, Saint-Romuald PQ Sarnia Nanticoke Physical access to seaway distribution terminals; Tracy, Quebec City Woodhaven Toledo Chicago Detroit Tidewater access to PADD I, PADD III, Europe and India Wood River CN served crude destination site Offline crude destination site

13 Jackson Direct Access to Gulf Coast PADD III Consumers Genesis (Baton Rouge) LBC Sunshine (St. Gabriel) Genesis (Natchez) Crosstex (Geismar) Valero (Norco) IMTT (St.Rose) Stone Oil (Manchac) ARC (Mobile) Single-line high-velocity turnaround service from Alberta / SK oilfields to PADD III refineries. Capacity available right away. Access refineries directly from Baton Rouge to New Orleans corridor Access refineries by barge / pipeline up to Houston ship channel via CN-served tidewater distribution terminals Lynton, AB to Natchez, MS 2,800 rail miles

14 14

15 Fort McMurray (Cheecham) Kitimat Edmonton CN condensate hubs Finding Bigfoot Peak of 50,000 barrels per day Currently 30,000 barrels per day CN Rail is an element of the condensate supply strategy

16 Rail Car Production The Future is Heavy New tank cars in service 2012 vs. 2015* In the third quarter of 2012 alone, ~4,500 tank cars were delivered *CN Estimate

17 2011: Manifest - CN Facilitated Transload 2012: Manifest - truck to tank to rail 2013: Unit Train - Pipe to tank to unit train Facility Development: Shifting to Unit Train Infrastructure Now Open - Rail loading facility and tank farm for crude in Fort McMurray, AB

18 CN Crude by Rail Adoption Rate Carloads - Thousands Long haul crude traffic (average length of haul miles) 70,000 60,000 50,000 40,000 30,000 20,000 10, F All traffic Manuf acturing Crude 0 1,000 2,000 Crude by rail is now a meaningful component of the crude supply chain

19 CN Facility Development: Shifting to Unit Train Infrastructure Origin Region Manifest Unit Train Manifest Unit Train Manifest Unit Train Peace River Athabasca Edmonton Lloydminster Bakken Destination Location Manifest Unit Train Manifest Unit Train Manifest Unit Train East Coast USGC West Coast

20 In Summary The CN Advantage Superior geographic reach Rail economics for heavy crudes are not spread dependant Rail car and facility constrains are being addressed. Rapid expansion of unit train capacity on CN s network Connectivity to Brent markets on 3 coasts Can t beat single line connectivity The J gets us around Chicago CN s is committed to being a supply chain enabler

First Quarter 2016 Results

First Quarter 2016 Results April 21, 2016 First Quarter 2016 Earnings Release Lance Fritz Chairman, President & CEO 1 First Quarter 2016 Results Earnings Per Share First Quarter $1.19 $1.30 Earnings Per Share Down 11% -11% $1.16

More information

North American Freight Rail Industry. Transportation Research Board Washington, DC March 14, 2014

North American Freight Rail Industry. Transportation Research Board Washington, DC March 14, 2014 North American Freight Rail Industry Transportation Research Board Washington, DC March 14, 2014 Railroads Help Keep Coal- Based Electricity BNSF CN CP CSX FXE KCS/KCSM NS UP Other RRs Freight Railroads

More information

Canadian Rail: Gearing Up in the West

Canadian Rail: Gearing Up in the West Canadian Rail: Gearing Up in the West WCWGA 42 nd Annual Convention January 6, 2012 Moose Jaw, Saskatchewan Bruce R. Burrows V.P., Public and Corporate Affairs Outline 1. Who we are 2. How Railways Do

More information

Kansas City Southern. Mike Upchurch Executive Vice President Finance & CFO. Raymond James Institutional Investors Conference March 2 nd, 2015

Kansas City Southern. Mike Upchurch Executive Vice President Finance & CFO. Raymond James Institutional Investors Conference March 2 nd, 2015 Kansas City Southern Mike Upchurch Executive Vice President Finance & CFO Raymond James Institutional Investors Conference March 2 nd, 2015 Safe Harbor Statement This presentation contains forward-looking

More information

CRUDE OIL BY RAIL: PART I POTENTIAL FOR THE MOVEMENT OF ALBERTA OIL SANDS CRUDE OIL AND RELATED PRODUCTS BY CANADIAN RAILWAYS

CRUDE OIL BY RAIL: PART I POTENTIAL FOR THE MOVEMENT OF ALBERTA OIL SANDS CRUDE OIL AND RELATED PRODUCTS BY CANADIAN RAILWAYS 412 CRUDE OIL BY RAIL: PART I POTENTIAL FOR THE MOVEMENT OF ALBERTA OIL SANDS CRUDE OIL AND RELATED PRODUCTS BY CANADIAN RAILWAYS Malcolm, Malcolm Research and Consulting 1 There is a very significant

More information

UBS Grass Roots Conference

UBS Grass Roots Conference UBS Grass Roots Conference Oil and Gas Opportunities in Canada Rob Hossack Managing Director Praxair Canada, Inc. February 9, 2006 Page 1 Forward Looking Statements This document contains forward-looking

More information

TD Securities Calgary Energy Conference July 2014

TD Securities Calgary Energy Conference July 2014 TD Securities Calgary Energy Conference July 2014 Forward-Looking Statements Certain statements, estimates and financial information contained in this presentation ("Estimates") constitute forwardlooking

More information

R a i l w a y C o m p a n y JULY 2016

R a i l w a y C o m p a n y JULY 2016 Canadian National R a i l w a y C o m p a n y JULY 2016 Forward-Looking Statements The financial results in this presentation were determined on the basis of U.S. GAAP. Please refer to the website www.cn.ca/nongaap

More information

IT S SIMPLE. CANADIAN PACIFIC ANNUAL REPORT

IT S SIMPLE. CANADIAN PACIFIC ANNUAL REPORT IT S SIMPLE. CANADIAN PACIFIC ANNUAL REPORT 2014 BEST SERVICE. LOWEST COST. The best service in the industry, with the lowest cost basis. That s the CP story. Period. This is not just about 2014 s record

More information

2.2 DESCRIPTION OF REASONABLE ALTERNATIVES. 2.2.1 Rationale for Considering Alternatives. 2.2.2 Overview of Alternatives

2.2 DESCRIPTION OF REASONABLE ALTERNATIVES. 2.2.1 Rationale for Considering Alternatives. 2.2.2 Overview of Alternatives 2.2 DESCRIPTION OF REASONABLE ALTERNATIVES 2.2.1 Rationale for Considering Alternatives As noted in Section 1.4, Market Analysis, considerable changes in the crude oil market since the publication of the

More information

Keeping Our Options Open: Markets for Canadian Crude and the Pipeline Dilemma

Keeping Our Options Open: Markets for Canadian Crude and the Pipeline Dilemma Keeping Our Options Open: Markets for Canadian Crude and the Pipeline Dilemma Trisha Curtis, Research Analyst Energy Policy Research Foundation, Inc. (EPRINC) CERI Oil Conference 2012 April 23 rd, 2012

More information

BUSINESS UNIT HEADER IMAGE GOES HERE

BUSINESS UNIT HEADER IMAGE GOES HERE BUSINESS UNIT HEADER IMAGE GOES HERE 2015 Third Quarter Financial & Strategic Update Al Monaco President & CEO John Whelen Executive Vice President & CFO Legal Notice This presentation includes certain

More information

PRAXAIR, INC. Hydrogen: The Growth Story Continues. Charles Miller, Vice President Dan Yankowski, Vice President. February 9, 2005

PRAXAIR, INC. Hydrogen: The Growth Story Continues. Charles Miller, Vice President Dan Yankowski, Vice President. February 9, 2005 PRAXAIR, INC. Hydrogen: The Growth Story Continues Charles Miller, Vice President Dan Yankowski, Vice President February 9, 2005 Page 1 Deutsche Bank Houston, TX 2/9/05 Forward Looking Statements The forward-looking

More information

Crude Pipeline & Rail Infrastructure Overview. Presentation For: 8 th Annual Pipeline Development & Expansion Conference September 17, 2013

Crude Pipeline & Rail Infrastructure Overview. Presentation For: 8 th Annual Pipeline Development & Expansion Conference September 17, 2013 Crude Pipeline & Rail Infrastructure Overview Presentation For: 8 th Annual Pipeline Development & Expansion Conference September 17, 2013 Agenda» New Crude Production» Pipeline Projects» Rail Developments»

More information

Inter Pipeline Fund Announces Strong Third Quarter 2009 Results

Inter Pipeline Fund Announces Strong Third Quarter 2009 Results News Release Inter Pipeline Fund Announces Strong Third Quarter 2009 Results CALGARY, ALBERTA, NOVEMBER 5, 2009: Inter Pipeline Fund ( Inter Pipeline ) (TSX: IPL.UN) announced today its financial and operating

More information

Oil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska. Remarks by Marianne Kah Chief Economist

Oil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska. Remarks by Marianne Kah Chief Economist Oil and Natural Gas Outlook: Implications for Alaska The Alliance Meet Alaska Remarks by Marianne Kah Chief Economist Cautionary Statement The following presentation includes forward-looking statements.

More information

PETROLEUM WATCH September 16, 2011 Fossil Fuels Office Fuels and Transportation Division California Energy Commission

PETROLEUM WATCH September 16, 2011 Fossil Fuels Office Fuels and Transportation Division California Energy Commission PETROLEUM WATCH September 16, 2011 Fossil Fuels Office Fuels and Transportation Division California Energy Commission Summary As of September 14, retail regular-grade gasoline prices in California increased

More information

The Fuel and Vehicle Trends Report January 31, 2014

The Fuel and Vehicle Trends Report January 31, 2014 ISSN 1948-2388 The Fuel and Vehicle Trends Report This report is a summary of the latest fuel prices and other oil industry key statistics. In addition, this report provides the latest trends in vehicle

More information

Midwest Association of Rail Shippers. Rail and the Energy Sector January 24, 2013 www.dakotaplains.com

Midwest Association of Rail Shippers. Rail and the Energy Sector January 24, 2013 www.dakotaplains.com Midwest Association of Rail Shippers Rail and the Energy Sector January 24, 2013 www.dakotaplains.com Forward Looking Statements Statements made by representatives of Dakota Plains Holdings, Inc. ( Dakota

More information

Third Quarter 2015 Marketing Overview. Alan H. Shaw Executive Vice President and Chief Marketing Officer

Third Quarter 2015 Marketing Overview. Alan H. Shaw Executive Vice President and Chief Marketing Officer Third Quarter 2015 Marketing Overview Alan H. Shaw Executive Vice President and Chief Marketing Officer 1 Adapting to our Changing Environment Current Conditions Fuel Surcharges Commodity Prices and Strength

More information

Spectra Energy Reports First Quarter 2009 Results

Spectra Energy Reports First Quarter 2009 Results Media: Analysts: Wendy Olson (713) 627-4072 (713) 627-4747 (24-hour media line) John Arensdorf (713) 627-4600 Date: May 5, 2009 Spectra Energy Reports First Quarter 2009 Results Reported net income (controlling

More information

MAXIMIZING FLEET UTILIZATION: a critical strategy for today s crude shipping market

MAXIMIZING FLEET UTILIZATION: a critical strategy for today s crude shipping market MAXIMIZING FLEET UTILIZATION: a critical strategy for today s crude shipping market The traditional method of transporting crude is via pipe, but crude by rail has boomed over the past several years and

More information

EIA s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications

EIA s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications EIA s U.S. Crude Oil Import Tracking Tool: Selected Sample Applications November 2014 Independent Statistics & Analysis www.eia.gov U.S. Department of Energy Washington, DC 20585 This report was prepared

More information

FRANKLIN ELECTRIC REPORTS RECORD SECOND QUARTER 2013 SALES AND EARNINGS

FRANKLIN ELECTRIC REPORTS RECORD SECOND QUARTER 2013 SALES AND EARNINGS For Immediate Release For Further Information Refer to: John J. Haines 260-824-2900 FRANKLIN ELECTRIC REPORTS RECORD SECOND QUARTER 2013 SALES AND EARNINGS Bluffton, Indiana July 30, 2013 - Franklin Electric

More information

Watco Companies, L.L.C. NUTC Oil Panel Discussion Terminal Perspective Evanston, IL June 11, 2014 Stefan Loeb SVP Marketing & Strategic Development

Watco Companies, L.L.C. NUTC Oil Panel Discussion Terminal Perspective Evanston, IL June 11, 2014 Stefan Loeb SVP Marketing & Strategic Development Watco Companies, L.L.C. NUTC Oil Panel Discussion Terminal Perspective Evanston, IL June 11, 2014 Stefan Loeb SVP Marketing & Strategic Development Terminal Perspective: Watco Shale Opportunities CASE

More information

Spectra Energy Reports Fourth Quarter and Year-End 2007 Results

Spectra Energy Reports Fourth Quarter and Year-End 2007 Results Media: Molly Boyd (713) 627-5923 (713) 627-4747 (24-hour media line) Analysts: John Arensdorf (713) 627-4600 Date: February 6, 2008 Spectra Energy Reports Fourth Quarter and Year-End 2007 Results Fourth

More information

Railway Demand Forecasting and Service Planning Processes. Prepared for: Rail Freight Service Review

Railway Demand Forecasting and Service Planning Processes. Prepared for: Rail Freight Service Review Railway Demand Forecasting and Service Planning Processes Prepared for: Rail Freight Service Review March 2010 Table of Contents 1. Purpose of the Project... 4 2. General Approach... 5 3. Demand Forecasting...

More information

Canadian Oil Sands Reports Over $1 Billion of Cost Savings Achieved at Syncrude Year to Date

Canadian Oil Sands Reports Over $1 Billion of Cost Savings Achieved at Syncrude Year to Date October 29, 2015 TSX: COS Canadian Oil Sands Reports Over $1 Billion of Cost Savings Achieved at Syncrude Year to Date All financial figures are unaudited, have been prepared in accordance with Canadian

More information

Third quarter 2015 results October 29, 2015 Conference call notes

Third quarter 2015 results October 29, 2015 Conference call notes Third quarter 2015 results October 29, 2015 Conference call notes Kam Sandhar Director, Investor Relations Thank you operator and welcome everyone to our third quarter 2015 results conference call. I would

More information

Sunoco Logistics Partners L.P. Second Quarter 2015 Earnings Conference Call August 6, 2015

Sunoco Logistics Partners L.P. Second Quarter 2015 Earnings Conference Call August 6, 2015 Sunoco Logistics Partners L.P. Second Quarter 2015 Earnings Conference Call August 6, 2015 Forward-Looking Statements You should review this slide presentation in conjunction with the second quarter 2015

More information

Spectra Energy Reports First Quarter 2012 Results

Spectra Energy Reports First Quarter 2012 Results Media: Analysts: Wendy Olson (713) 627-4072 (713) 627-4747 (24-hour media line) John Arensdorf (713) 627-4600 Date: May 4, 2012 Spectra Energy Reports First Quarter 2012 Results Reported net income from

More information

How To Train Safely

How To Train Safely Rail Safety in Virginia: An HSA Perspective Brian J. Moran Virginia Secretary of Public Safety & Homeland Security COMMONWEALTH OF VIRGINIA 1 Virginia s Rail System 3,394 total track miles - 2 Class I

More information

Oil and Gas U.S. Industry Outlook

Oil and Gas U.S. Industry Outlook Oil and Gas U.S. Industry Outlook VERSION 01 YEAR 13 OUTLOOK: Positive fundamentals & outlook www.eulerhermes.us Key points WTI Crude is expected to continue to converge to Brent crude prices, narrowing

More information

Challenging quarter for Mobile Devices. Daily order rates improving. Free Cash Flow > Net Income. FCT acquisition. Page 3

Challenging quarter for Mobile Devices. Daily order rates improving. Free Cash Flow > Net Income. FCT acquisition. Page 3 August 7, 2013 Page 1 Statements in this release that are not historical are forward-looking and are subject to various risks and uncertainties that could cause actual results to vary materially from those

More information

Spectra Energy Reports Second Quarter 2008 Results, Net Income Up 51 Percent from Prior Year

Spectra Energy Reports Second Quarter 2008 Results, Net Income Up 51 Percent from Prior Year Media: Analysts: Molly Boyd (713) 627-5923 (713) 627-4747 (24-hour media line) John Arensdorf (713) 627-4600 Date: August 6, 2008 Spectra Energy Reports Second Quarter 2008 Results, Net Income Up 51 Percent

More information

(713) 627-5353 (713) 627-4747 (24-hour media line) (713) 627-4600. Date: May 3, 2013

(713) 627-5353 (713) 627-4747 (24-hour media line) (713) 627-4600. Date: May 3, 2013 Media: Analysts: Caitlin Currie (713) 627-5353 (713) 627-4747 (24-hour media line) John Arensdorf (713) 627-4600 Date: May 3, 2013 Spectra Energy Reports First Quarter 2013 Results Reported net income

More information

Canadian Oil Sands Valuable. For the Long Term. Investor Presentation January 2016

Canadian Oil Sands Valuable. For the Long Term. Investor Presentation January 2016 Canadian Oil Sands Valuable. For the Long Term. Investor Presentation January 2016 Reasons to Reject Suncor s Hostile Bid Significantly Undervalued: - Fails to recognize a new era of lower cost production

More information

Introduction- Joe Conner, Founder/ President

Introduction- Joe Conner, Founder/ President 1 Introduction- Joe Conner, Founder/ President 2 High Profile Derailments July 2013 Lac Megantic, Canada A train carrying crude oil derailed and exploded, resulting in 47 deaths October 2013, Alberta,

More information

IntercontinentalExchange. Credit Suisse Financial Services Forum February 7, 2008

IntercontinentalExchange. Credit Suisse Financial Services Forum February 7, 2008 IntercontinentalExchange Credit Suisse Financial Services Forum February 7, 2008 Forward-Looking Statements Forward-Looking Statements This presentation may contain forward-looking statements made pursuant

More information

TOUCHSTONE ANNOUNCES 2015 THIRD QUARTER RESULTS AND ELIMINATION OF NET DEBT; UPDATES TRINIDAD ACQUISITION

TOUCHSTONE ANNOUNCES 2015 THIRD QUARTER RESULTS AND ELIMINATION OF NET DEBT; UPDATES TRINIDAD ACQUISITION TOUCHSTONE ANNOUNCES 2015 THIRD QUARTER RESULTS AND ELIMINATION OF NET DEBT; UPDATES TRINIDAD ACQUISITION Calgary, Alberta November 13, 2015 Touchstone Exploration Inc. ( Touchstone or the Company ) (TSX:

More information

Spectra Energy Reports Second Quarter 2007 Results

Spectra Energy Reports Second Quarter 2007 Results Media: Molly Boyd (713) 627-5923 (713) 627-4747 (24-hour media line) Analysts: John Arensdorf (713) 627-4600 Date: August 6, 2007 Spectra Energy Reports Second Quarter 2007 Results Second quarter reported

More information

BAYTEX REPORTS Q3 2015 RESULTS

BAYTEX REPORTS Q3 2015 RESULTS BAYTEX REPORTS Q3 RESULTS CALGARY, ALBERTA (November 6, ) - Baytex Energy Corp. ("Baytex")(TSX, NYSE: BTE) reports its operating and financial results for the three and nine months ended (all amounts are

More information

Northeast Propane Infrastructure, Supply Shortages & High Cost to Consumers

Northeast Propane Infrastructure, Supply Shortages & High Cost to Consumers Northeast Propane Infrastructure, Supply Shortages & High Cost to Consumers Crestwood s Finger Lakes NGL Storage Facility "The Solution" Crestwood Midstream Facilities Overview Gathering & Processing Gas

More information

Spectra Energy Reports Third Quarter 2007 Results

Spectra Energy Reports Third Quarter 2007 Results Media: Molly Boyd (713) 627-5923 (713) 627-4747 (24-hour media line) Analysts: John Arensdorf (713) 627-4600 Date: November 6, 2007 Spectra Energy Reports Third Quarter 2007 Results Third quarter ongoing

More information

CAPITAL POWER Q3/15 Analyst Conference Call October 26, 2015. Brian Vaasjo, President & CEO Bryan DeNeve, SVP Finance & CFO

CAPITAL POWER Q3/15 Analyst Conference Call October 26, 2015. Brian Vaasjo, President & CEO Bryan DeNeve, SVP Finance & CFO CAPITAL POWER Q3/15 Analyst Conference Call October 26, 2015 Brian Vaasjo, President & CEO Bryan DeNeve, SVP Finance & CFO Forward-looking information Cautionary statement Certain information in this presentation

More information

Enbridge Income Fund Holdings Inc. Announces Second Quarter Results; Declares Monthly Dividend

Enbridge Income Fund Holdings Inc. Announces Second Quarter Results; Declares Monthly Dividend NEWS RELEASE Enbridge Income Fund Holdings Inc. Announces Second Quarter Results; Declares Monthly Dividend HIGHLIGHTS (all financial figures are unaudited and in Canadian dollars) Earnings for the second

More information

FOURTH QUARTER 2015 Report to Shareholders for the period ended December 31, 2015

FOURTH QUARTER 2015 Report to Shareholders for the period ended December 31, 2015 FOURTH QUARTER 2015 Report to Shareholders for the period ended, 2015 MEG Energy Corp. reported fourth quarter and full-year 2015 operating and financial results on February 4, 2016. Highlights include:

More information

Driving Distinctive Growth UBS MLP One-on-One Conference January 2016

Driving Distinctive Growth UBS MLP One-on-One Conference January 2016 Driving Distinctive Growth UBS MLP One-on-One Conference January 2016 2015 Tesoro Corporation. All Rights Reserved. Forward Looking Statements This Presentation includes forward-looking statements within

More information

Operational Review and Outlook

Operational Review and Outlook TD Newcrest Oil Sands Conference Calgary July 2009 Operational Review and Outlook Paul M. Boechler Chief Financial Officer Trading Information Strategy Flint s Markets and Geographic Footprint Business

More information

Short-Term Energy Outlook Market Prices and Uncertainty Report

Short-Term Energy Outlook Market Prices and Uncertainty Report July 2014 Short-Term Energy Outlook Market Prices and Uncertainty Report Crude Oil Prices: After an upward move in mid-june, crude oil prices retreated close to previous levels. The North Sea Brent front

More information

Rail Loading Facilities Bakken Product Markets & Takeaway Capacity Denver, CO January 30, 2013 www.dakotaplains.com

Rail Loading Facilities Bakken Product Markets & Takeaway Capacity Denver, CO January 30, 2013 www.dakotaplains.com Rail Loading Facilities Bakken Product Markets & Takeaway Capacity Denver, CO January 30, 2013 www.dakotaplains.com Forward Looking Statements Statements made by representatives of Dakota Plains Holdings,

More information

Spectra Energy Reports Fourth Quarter and Year-End 2011 Results

Spectra Energy Reports Fourth Quarter and Year-End 2011 Results Media: Analysts: Wendy Olson (713) 627-4072 (713) 627-4747 (24-hour media line) John Arensdorf (713) 627-4600 Date: February 2, 2012 Spectra Energy Reports Fourth Quarter and Year-End 2011 Results Company

More information

Enbridge Income Fund Holdings Inc. Reports Strong First Quarter Results; Declares Monthly Dividend

Enbridge Income Fund Holdings Inc. Reports Strong First Quarter Results; Declares Monthly Dividend NEWS RELEASE Enbridge Income Fund Holdings Inc. Reports Strong First Quarter Results; Declares Monthly Dividend HIGHLIGHTS (all financial figures are unaudited and in Canadian dollars unless otherwise

More information

1Q16 Conference Call. April 28, 2016

1Q16 Conference Call. April 28, 2016 1Q16 Conference Call April 28, 2016 Cautionary Statement The following presentation includes forward-looking statements. These statements relate to future events, such as anticipated revenues, earnings,

More information

Class I Railroad Statistics

Class I Railroad Statistics Class I Railroad Statistics U.S. Class I Railroads U.S. Class I Railroads are line haul freight railroads with 2011 operating revenue of $433.2 million or more. Two Canadian railroads, CN and Canadian

More information

December 2015. Investor Presentation

December 2015. Investor Presentation December 2015 Investor Presentation COS Overview Pure-play exposure to a scarce, irreplaceable oil sands mining asset in a low-risk, geopolitically stable country High quality leases border every oil sands

More information

State of the Oil Markets?

State of the Oil Markets? State of the Oil Markets? U.S. and Global Refining Prospects John R. Auers, P.E. Executive Vice President Washington DC February 17, 2016 U.S. Refining is YUGE! 2 What Determines Refining Winners? Refined

More information

IntercontinentalExchange Fourth Quarter & Year-End 2008. Earnings Presentation February 10, 2009

IntercontinentalExchange Fourth Quarter & Year-End 2008. Earnings Presentation February 10, 2009 IntercontinentalExchange Fourth Quarter & Year-End 20 Earnings Presentation February 10, 2009 Forward-Looking Statements Forward-Looking Statements This presentation may contain forward-looking statements

More information

Canadian Oil Sands' Second Quarter Results Reflect Continued Progress on Syncrude's Cost Reduction Efforts

Canadian Oil Sands' Second Quarter Results Reflect Continued Progress on Syncrude's Cost Reduction Efforts July 30, 2015 TSX: COS Canadian Oil Sands' Second Quarter Results Reflect Continued Progress on Syncrude's Cost Reduction Efforts All financial figures are unaudited, have been prepared in accordance with

More information

Rail 2030: Preparing Today for Tomorrow s Challenges

Rail 2030: Preparing Today for Tomorrow s Challenges Rail 2030: Preparing Today for Tomorrow s Challenges Robert McKinstry, Director, Policy, Economic & Environmental Affairs October 18, 2011 Calgary, Alberta Outline 1. Who we are 2. The Context of Canada

More information

Supply Options for the U.S. Northeast

Supply Options for the U.S. Northeast Supply Options for the U.S. Northeast NECA Annual Conference on Fuels Tim Stringer Manager, Commercial East Agenda 2009 Supply/Demand Outlook TransCanada Key Initiatives Connecting new supply Northern

More information

Company Profile and Service Offerings

Company Profile and Service Offerings Company Profile and Service Offerings June 2008 1 PRINCIPALS Bradley N. Howell Chairman and Chief Executive Officer (713) 655-1860 Direct Line / bhowell@lodestarlogistics.com Formerly President, Howell

More information

Enbridge Income Fund Holdings Inc.

Enbridge Income Fund Holdings Inc. Enbridge Income Fund Holdings Inc. Annual General Meeting of Shareholders May 12, 2016 Perry Schuldhaus, President Forward Looking Statements This presentation includes certain forward looking statements

More information

Financial strategy supports business plan

Financial strategy supports business plan Financial strategy supports business plan Ivor Ruste Executive Vice-President & Chief Financial Officer Investor Day Calgary December 7, 2011 Financial strategy supports business plan Support long-term

More information

ENTERPRISE OIL LIMITED

ENTERPRISE OIL LIMITED ENTERPRISE OIL LIMITED Management s Discussion and Analysis For the six month period ended March 31, 2006 Enterprise Oil Limited ( Enterprise or the Company ) completed its first acquisition, the assets

More information

Moving Crude Oil by Rail

Moving Crude Oil by Rail Moving Crude Oil by Rail Association of American Railroads July 2014 Summary U.S. crude oil production has risen sharply in recent years, with much of the increased output moving by rail. In 2008, U.S.

More information

SIMPLIFYING LOGISTICS: THE BENEFITS OF RAIL IN A MULTIMODAL SHIPPING SYSTEM

SIMPLIFYING LOGISTICS: THE BENEFITS OF RAIL IN A MULTIMODAL SHIPPING SYSTEM SIMPLIFYING LOGISTICS: THE BENEFITS OF RAIL IN A MULTIMODAL SHIPPING SYSTEM A well-designed shipping plan has bottom-line implications for any business. Creating a sound logistics strategy supported by

More information

Argus Crude Summit Review

Argus Crude Summit Review Argus Crude Summit Review Presentation to the Crude Oil Quality Association New Orleans, LA February 27, 2014 Bill Lywood Crude Quality Inc. lywood@crudequality.com Argus Crude Summit Overview Pre-sessions

More information

Staying the Course Investor Presentation June 2016

Staying the Course Investor Presentation June 2016 Staying the Course Investor Presentation June 2016 Disclaimer This presentation is not, and under no circumstances is to be construed to be a prospectus, offering memorandum, advertisement or public offering

More information

Main Street. Economic information. By Chad Wilkerson, Vice President and Oklahoma City Branch Executive, and Nida Cakir Melek, Economist

Main Street. Economic information. By Chad Wilkerson, Vice President and Oklahoma City Branch Executive, and Nida Cakir Melek, Economist THE Main Street ECONOMIST: ECONOMIST Economic information Agricultural for the and Cornhusker Rural Analysis State S e Issue p t e m b1, e r 2014 2 0 1 0 Feed de er ra al l RR e es se er rv ve e BBa an

More information

COMPANY UPDATE FIRST QUARTER 2016 RESULTS

COMPANY UPDATE FIRST QUARTER 2016 RESULTS COMPANY UPDATE FIRST QUARTER 2016 RESULTS ROYAL DUTCH SHELL 4 MAY 2016 Copyright of Royal Dutch Shell plc May 4, 2016 1 SIMON HENRY CHIEF FINANCIAL OFFICER ROYAL DUTCH SHELL PLC 2 DEFINITIONS & CAUTIONARY

More information

The case for rail transportation of hazardous materials

The case for rail transportation of hazardous materials ABSTRACT The case for rail transportation of hazardous materials H. Barry Spraggins University of Nevada, Reno Safe transportation of hazardous materials in the United States is an important national issue.

More information

Energy Efficiency s Role in Getting America Out of Its Energy Straightjacket

Energy Efficiency s Role in Getting America Out of Its Energy Straightjacket Energy Efficiency s Role in Getting America Out of Its Energy Straightjacket R. Neal Elliott, Ph.D., P.E. Industrial Program Director ACEEE Jan-06 Industrial Energy Prices 17.00 15.00 13.00 11.00 9.00

More information

Short-Term Energy Outlook Market Prices and Uncertainty Report

Short-Term Energy Outlook Market Prices and Uncertainty Report February 2016 Short-Term Energy Outlook Market Prices and Uncertainty Report Crude Oil Prices: The North Sea Brent front month futures price settled at $34.46/b on February 4 $2.76 per barrel (b) below

More information

How To Build A Gas Plant

How To Build A Gas Plant 1 NGL Fractionation & Storage Phoenix Energy Marketing Consultants Inc. 2 Fractionation & Storage 1. Storage 3 Fractionation & Storage Important part of the liquids transportation infrastructure NGLs must

More information

How tomorrow moves CSX QUARTERLY FINANCIAL REPORT

How tomorrow moves CSX QUARTERLY FINANCIAL REPORT How tomorrow moves CSX QUARTERLY FINANCIAL REPORT FOURTH QUARTER 2007 CSX Reports Strong Double Digit Earnings Growth in Fourth Quarter Full-year Revenues Break $10 Billion Mark and Operating Income Exceeds

More information

1Q14 CONFERENCE CALL. Jeff Sheets, EVP, Finance & CFO Matt Fox, EVP, Exploration & Production. May 1, 2014

1Q14 CONFERENCE CALL. Jeff Sheets, EVP, Finance & CFO Matt Fox, EVP, Exploration & Production. May 1, 2014 1Q14 CONFERENCE CALL Jeff Sheets, EVP, Finance & CFO Matt Fox, EVP, Exploration & Production May 1, 2014 Cautionary Statement The following presentation includes forward-looking statements. These statements

More information

Waste Management Announces Fourth Quarter and Full Year 2007 Earnings. Increases Earnings per Diluted Share by 32.6% in Fourth Quarter of 2007

Waste Management Announces Fourth Quarter and Full Year 2007 Earnings. Increases Earnings per Diluted Share by 32.6% in Fourth Quarter of 2007 For Further Information: Waste Management, Inc. Analysts: Greg Nikkel - 713.265.1358 Media: Lynn Brown - 713.394.5093 Web site: http://www.wm.com Waste Management Announces Fourth Quarter and Full Year

More information

Nordic American Tanker Shipping Ltd. (NAT) (NYSE: NAT) Announces 3 rd quarter 2005 Results

Nordic American Tanker Shipping Ltd. (NAT) (NYSE: NAT) Announces 3 rd quarter 2005 Results Nordic American Tanker Shipping Ltd. (NAT) (NYSE: NAT) Announces 3 rd quarter Results Hamilton, Bermuda, October 10 th, Nordic American Tanker Shipping Ltd (the Company ) today announced its result for

More information

Oceaneering Reports First Quarter 2016 Results

Oceaneering Reports First Quarter 2016 Results PRESS RELEASE Oceaneering Reports First Quarter 2016 Results April 25, 2016 Houston, Texas Oceaneering International, Inc. ( Oceaneering or the Company ) (NYSE:OII) today reported net income of $25.1 million,

More information

Suncor Denver Refinery Overview

Suncor Denver Refinery Overview Suncor Denver Refinery Overview COQA June 10, 2010 Randy Segato Denver Refinery Suncor History Integration Projects Project Odyssey Crude Qualities Suncor Synthetics Canadian Heavy Colorado Sweet other

More information

Investing: Suncor - A Strategic Advantage

Investing: Suncor - A Strategic Advantage UBS Energy 1x1 Conference Boston November 23, 2015 Ryan Kubik President and Chief Executive Officer Suncor s Hostile Bid Suncor has offered 0.25 Suncor shares for each COS share COS board has recommended

More information

Direct Line Insurance Group plc Trading Update for the first quarter of 2016

Direct Line Insurance Group plc Trading Update for the first quarter of 2016 Direct Line Insurance Group plc Trading Update for the first quarter of 4 May Direct Line Group s Trading Update relates to the first quarter ended ch, and contains information to the date of publication.

More information

4Q14 Conference Call. Jan. 29, 2015

4Q14 Conference Call. Jan. 29, 2015 4Q14 Conference Call Jan. 29, 2015 Cautionary Statement The following presentation includes forward-looking statements. These statements relate to future events, such as anticipated revenues, earnings,

More information

BLACKPEARL RESOURCES INC. 700, 444 7th Avenue SW, Calgary, AB T2P 0X8 Ph. (403) 215-8313 Fax (403) 265-8324 www.blackpearlresources.

BLACKPEARL RESOURCES INC. 700, 444 7th Avenue SW, Calgary, AB T2P 0X8 Ph. (403) 215-8313 Fax (403) 265-8324 www.blackpearlresources. BLACKPEARL RESOURCES INC. 700, 444 7th Avenue SW, Calgary, AB T2P 0X8 Ph. (403) 215-8313 Fax (403) 265-8324 www.blackpearlresources.ca NEWS RELEASE August 5, 2014 BLACKPEARL ANNOUNCES SECOND QUARTER 2014

More information

BULLETIN #113 UPDATED JULY 14, 2015 COMPANY ANALYSIS NORTHERN TIER ENERGY NTI:NYSE

BULLETIN #113 UPDATED JULY 14, 2015 COMPANY ANALYSIS NORTHERN TIER ENERGY NTI:NYSE BULLETIN #113 UPDATED JULY 14, 2015 COMPANY ANALYSIS NORTHERN TIER ENERGY NTI:NYSE NTI is a pure-play, mid-continent refinery. It s a variable rate MLP (Master Limited Partnership) which pays out a big

More information

Canadian Pacific Railway Limited (CP) welcomes the opportunity to provide input into your review of business taxation within the Province.

Canadian Pacific Railway Limited (CP) welcomes the opportunity to provide input into your review of business taxation within the Province. June 4, 2012 Expert Panel on Business Taxation Room 105-617 Government Street Victoria BC V8W 9V8 Sarah Morgan-Silvester, Panel Chair Lindsay Hall, Panel member Laura Jones, Panel member Elio Luongo, Panel

More information

RAGING RIVER EXPLORATION INC. ANNOUNCES 2015 YEAR END RESERVES AND UPDATED 2016 GUIDANCE

RAGING RIVER EXPLORATION INC. ANNOUNCES 2015 YEAR END RESERVES AND UPDATED 2016 GUIDANCE February 3, 2016 RAGING RIVER EXPLORATION INC. ANNOUNCES 2015 YEAR END RESERVES AND UPDATED 2016 GUIDANCE CALGARY, ALBERTA (February 3, 2016) Raging River Exploration Inc. ("Raging River" or the "Company")

More information

Heidmar Tanker Pools Trading insights from the front line: Strategies for maximizing returns in shifting markets

Heidmar Tanker Pools Trading insights from the front line: Strategies for maximizing returns in shifting markets Heidmar Tanker Pools Trading insights from the front line: Strategies for maximizing returns in shifting markets June 2013 2 About Heidmar Heidmar is the world s leading independent tanker pool manager

More information

JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY RICE UNIVERSITY

JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY RICE UNIVERSITY JAMES A. BAKER III INSTITUTE FOR PUBLIC POLICY RICE UNIVERSITY Testimony of Kenneth B. Medlock III, PhD James A. Baker, III, and Susan G. Baker Fellow in Energy and Resource Economics, and Senior Director,

More information

Hitachi Announces Progress of 2015 Mid-term Management Plan

Hitachi Announces Progress of 2015 Mid-term Management Plan FOR IMMEDIATE RELEASE Hitachi Announces Progress of 2015 Mid-term Management Plan Tokyo, May 14, 2015 --- Hitachi, Ltd. (TSE:6501 / Hitachi ) today announced the current status of its progress of the 2015

More information

Planning Railway Safety in Canada

Planning Railway Safety in Canada Planning Railway Safety in Canada Mike Lowenger Vice President, Operations and Regulatory Affairs Railway Association of Canada July 10, 2014 ABOUT THE RAC 50+ members Represents virtually all railways

More information

State Heating Oil & Propane Program Final Report Winter 2004/2005

State Heating Oil & Propane Program Final Report Winter 2004/2005 Commonwealth of Massachusetts Division of Energy Resources State Heating Oil & Propane Program Final Report Winter 2004/2005 May 2005 Mitt Romney Governor Kerry Healey Lt. Governor Beth Lindstrom Director,

More information

YOUR FACULTY. Crude Market Opportunities, New Regulations, and the Impact of Price Volatility HEAR FROM EXPERIENCED LEADERS REGISTER TODAY!

YOUR FACULTY. Crude Market Opportunities, New Regulations, and the Impact of Price Volatility HEAR FROM EXPERIENCED LEADERS REGISTER TODAY! YOUR FACULTY HEAR FROM EXPERIENCED LEADERS Nicole Girard, Director General, Transportation of Dangerous Goods, TRANSPORT CANADA Brigham McCown, Chairman and CEO, NOUVEAU INC. Former Administrator, PHMSA

More information

Box 6 International Oil Prices: 2002-03

Box 6 International Oil Prices: 2002-03 Annual Report 2002-03 International Oil Prices: 2002-03 Box 6 International Oil Prices: 2002-03 Notwithstanding the state of the world economy, characterised by sluggish growth in 2002, the world crude

More information

U.S. Crude Oil Pricing Analysis

U.S. Crude Oil Pricing Analysis Alan Stevens, President Stancil & Co. 400 E. Las Colinas Boulevard Suite 700 Irving, Texas 75039 214.688.0255 www.stancilco.com Table of Contents I. Introduction and Summary of Findings... I-1 Historical

More information

High. times for. hydrogen. Nitin M. Patel and William F. Baade, Air Products and Chemicals, Inc., USA,

High. times for. hydrogen. Nitin M. Patel and William F. Baade, Air Products and Chemicals, Inc., USA, High times for hydrogen Nitin M. Patel and William F. Baade, Air Products and Chemicals, Inc., USA, look at the continuing growth in hydrogen capacity for the production of clean fuels. REPRINTED FROM

More information

Submitted by the Center for Biological Diversity, Friends of the Gorge and Adirondack Mountain Club September 30, 2014

Submitted by the Center for Biological Diversity, Friends of the Gorge and Adirondack Mountain Club September 30, 2014 PETITION TO THE SECRETARY OF TRANSPORTATION TO ISSUE AN EMERGENCY ORDER REQUIRING COMPREHENSIVE OIL SPILL RESPONSE PLANS FOR HIGH HAZARD FLAMMABLE TRAINS Submitted by the Center for Biological Diversity,

More information

News Release. fourth quarter of

News Release. fourth quarter of News Release May 7, 2014 For Immediate Release Xtreme Drilling and Coil Services Announces Record First Quarter Results Calgary, Alberta (TSX XDC) Xtreme Drilling and Coil Services ( Xtreme or the Company

More information

Road Safety ROAD SAFETY

Road Safety ROAD SAFETY Road Safety 1 ROAD SAFETY Our staff and contractors drive around 1.1 billion kilometres each year: to deliver products to our customers or keep our operations running. That s equivalent to driving about

More information