Another day, another 2 miles of Line 3 pipe in the groundWhen ENB shutdown digging of Line 3 for the scheduled and mandated Spring Thaw, the company claimed they had buried about 60% of the 330 miles of pipe. I expect ENB will have buried about another 20% per month in June and will likely wrap things up in terms of putting pipe in the ground by the end of this month or shortly thereafter. that they would proceed at about 20% per month and be finished near the end of July.
ENB is probably burying about 2.2 miles of pipe per day which means they likely only have another 40 miles to go.
The time for something big enough to cause a shutdown of Line 3 construction is almost over. Biden didn't shut down Line 3 when he recently had the chance. The Natives have not generated much interest in terms of protests since their one small push in early June.
Line 3 is not like the DAPL where everything was rushed through and as such subject to post-construction lawsuits.
It won't be long now until ENB is pumping nearly 800,000 barrels of liquids through Line 3 per day. In its last update, ENB stated:
“Once Line 3 is in service, it’s going to contribute a lot of free cash flow — and this year we anticipate it will be about $200 million in Q4 — with volumes and EBITDA ramping up in 2022.”
which should generate about a billion dollars of additional cash flow per year.
To put that into perspective, ENB generated $566mm of free cash flow in Q1 in2021.
The environmentalists and the nay sayers can spread all of the fear that they want, but ENB's free cash flow is about to increase by about 45%. Money talks. When mgmt indicates that the company has completed burying virtually all of the pipe for Line 3 at the end of this month, I expect we will see the share price move up strongly before the ex-dividend date.
OK, back to the silliness. Q is an idiot...Fiddiot is Fiddiott...Sarge is an an arrogant idiot...and Leo controls them all plus all of their alter egos..... Let's go girls!