Interesting, looks like a pipeline was screwing us around
Not surprising as all pipelines are at present.
Courtesy of another board. Newa from Thursday last week.
Energy Summary for Feb. 7, 2019
CPG has resolved the dispute with respect to pipeline "operating style" with Tundra. That is a positive.
In somewhat happier news, a long battle in Saskatchewan has come to an agreeable end for Crescent Point.
The battle began in June, 2017, when Crescent Point filed a complaint before the National Energy Board (NEB) about a mid-stream company called Tundra Energy Marketing.
According to the complaint, Tundra, which had recently bought a southeast Saskatchewan pipeline system that is used by Crescent Point and several other producers, was using "incomplete and inadequate methods" to operate the system, to the producers' financial detriment.
Crescent Point estimated at one point that it had lost over $1-million in a single month because of Tundra's "unjust" operating style.
Various companies including Vermilion Energy Inc. (VET: $31.63), Cenovus Energy Inc. (CVE: $10.09) and TORC Oil & Gas Ltd. (TOG:$4.23) voiced support for Crescent Point in letters to the NEB.
In addition to the regulator, the matter made its way into the provincial court system in September, 2017.
Throughout all of this, Crescent Point stayed in negotiations with Tundra.
Now, happily, they have settled their dispute.
In a letter to the NEB this week, Crescent Point said all of the parties involved have come to a "comprehensive" settlement agreement.
Though the specifics of the agreement were not laid out, due to "commercially sensitive and confidential matters," Crescent Point claimed to be "satisfied" with Tundra's proposed changes.
Crescent Point asked the NEB to consider the complaint withdrawn and end all proceedings.