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BetaPro Natural Gas Inverse Lever Daily Bear ETF T.HND

Alternate Symbol(s):  HBNNF

HND's investment objective was changed after gaining approval at a meeting of shareholders on August 20, 2020 and the name of the ETF was changed to the BetaPro Natural Gas Inverse Leveraged Daily Bear ETF. HNDs new investment objective, which became effective at the close of business on August 27, 2020, is to seek daily investment results, before fees, expenses, distributions, brokerage commissions and other transaction costs, that endeavour to correspond to up to two times (200%) the inverse (opposite) of the daily performance of the Horizons Natural Gas Rolling Futures Index (the Underlying Index, Bloomberg ticker: CMDYNGER). HND is denominated in Canadian dollars. Any U.S. dollar gains or losses as a result of the ETFs investment are hedged back to the Canadian dollar to the best of its ability.


TSX:HND - Post by User

Post by 2cheakyon Sep 15, 2014 8:51am
91 Views
Post# 22935822

chevron gas line accident

chevron gas line accident

Chevron Pipe Line Co. has shut an Gulf of Mexico offshore gas pipeline after an accident Saturday left a contract worker dead. Reuters

ChevronCVX -0.94% Pipe Line Co. has shut down a natural-gas pipeline that feeds Gulf of Mexico production to the Henry Hub storage and delivery point in Louisiana in the wake of a deadly accident.

A contract worker performing routine maintenance on an offshore gas pipeline was killed Saturday and two other workers were injured, the company said. The accident occurred 6 miles south of Timbalier Bay off the southeast coast of Louisiana, according to the U.S. Coast Guard.

Chevron declined to identify the workers and offered no details about what happened offshore, but said the company has launched an investigation.

The gas-handling line had a valve failure Saturday around 11:10 a.m. local time, said Gregory Langley, a spokesman for the Louisiana Department of Environmental Quality. There has been no sheen on the water since the incident began, he said.

Gas flows through the pipeline have been halted until the investigation and repairs can be completed, the company said, adding that minimal gas production in the Gulf of Mexico has been affected.

The closed gas pipeline feeds fuel to the Henry Hub, a critical storage and delivery point in Erath, La., that is linked to several interstate pipelines. The Henry Hub gas price is considered the benchmark for all U.S. gas pricing. The company said most gas that would have been transported on the now closed line has been rerouted to alternative pipes, the company said.

The company "regrets this tragic incident. Our thoughts and prayers are with the contractor's family and friends," Chevron said in a statement.

Natural gas is being released from the line to depressurize the pipe, the company said. Chevron said it is monitoring the situation through an on-site response team in addition to regular flights over the area.

—Russell Gold contributed to this article.

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