RE: update 2000bpd x $60 expected netback (pg 13 of presentation) will make for some decent Q1 numbers, and Q2 will smash income records for STP. Apparently "everything is going great" news isn't good enough for the market but it sure is for me. Also, the June 27 news release stated that the leased CN cars will be able to carry "most" of ther McKay bitumen, but didnt say what "most" was. There was also mention of allowance for expansion capacity down the road. Not sure if that means STP will be selling some of its product to local markets, but I did find this snippet of news about the Seaway pipeline reversal and expansion:
In reversed service the line has a capacity of 150,000 barrels per day (BPD). Following pump station additions and modifications, anticipated to be completed in January 2013, the capacity of the reversed Seaway Pipeline will increase to approximately 400,000 BPD of crude oil, assuming a mix of light and heavy grades.
During a binding open commitment period held January 4, 2012 to February 10, 2012, shippers executed long-term, crude oil transportation agreements that provided the support necessary to move forward with construction of a loop (twin) of the Seaway Pipeline. The new pipeline, which is designed to parallel the existing right-of-way from Cushing to the Gulf Coast, is expected to more than double Seaway's capacity to 850,000 BPD by first quarter 2014.
I attempted to access the 2012 CAPP production and pipeline capacity numbers and forecasts to see how this will affect the Cushing bottleneck and resulting WCS price but couldn't open it up.