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Nuvista Energy Ltd NUVSF


Primary Symbol: T.NVA

NuVista Energy Ltd. is an oil and natural gas company, which is engaged in the exploration for, and the development and production of, oil and natural gas reserves in the Western Canadian Sedimentary Basin. Its primary focus is on the scalable and repeatable condensate rich Montney formation in the Alberta Deep Basin (Wapiti Montney). Its core operating areas of Wapiti and Pipestone in the Montney formation are located near the City of Grande Prairie, Alberta, approximately 600 kilometers northwest of Calgary. Its Montney Formation is a shale gas and shale oil resource. The Montney formation in the Wapiti area is a thick (200m+) section of hydrocarbon-charted fine-grained reservoir found at depths ranging from 2,500-3,500m.


TSX:NVA - Post by User

Post by Carjackon Jul 25, 2023 1:55pm
78 Views
Post# 35556262

TC Energy's Columbia Gas Pipeline Explodes Near Virginia's I

TC Energy's Columbia Gas Pipeline Explodes Near Virginia's I

(P&GJ) — A gas line explosion occurred near Strasburg, Virginia, in rural western Virginia, not far from Interstate 81. The incident took place on a Tuesday morning and was promptly responded to by local officials, according to the Associated Press.

According to TC Energy, operators of the Columbia Gas Transmission Pipeline were notified of a fire after a pressure drop was detected along the pipeline around 8:40 a.m. As a precautionary measure, the section of the pipeline near Strasburg was immediately isolated.

Eyewitnesses reported seeing the explosion in a field off Interstate 81 shortly after 8 a.m. The Shenandoah County Sheriff's Office confirmed the location of the incident as near Battlefield Road and Copp Road.

Thankfully, there were no reported injuries resulting from the explosion, and no structures were threatened. The interstate had to be briefly closed, but emergency services managed to contain the fire effectively.

The gas line explosion comes just one day after the company's announcement of a significant sale to Global Infrastructure Partners (GIP). TC Energy had agreed to divest a 40% interest in both its Columbia Gas Transmission and Columbia Gulf Transmission pipelines for a staggering C$5.2 billion ($3.95 billion) as part of its asset reduction strategy to alleviate debt and fund various projects.

RELATED: TC Energy Sells 40% Stake in Columbia Gas Transmission Pipelines to GIP for $4 Billion

The Columbia Gas Transmission and Columbia Gulf Transmission pipelines have been vital in delivering a substantial portion of daily U.S. natural gas demand, including a significant portion of the country's LNG export supply. Nevertheless, as TC Energy navigates this challenging situation, it must ensure the safety and reliability of its pipelines, especially as it continues to play a crucial role in the nation's energy infrastructure.

In the aftermath of the incident, TC Energy has been cooperating with local authorities to conduct a thorough investigation into the cause of the gas line explosion.

Strasburg, where the incident occurred, is situated approximately 80 miles (129 kilometers) west of Washington, D.C.

As more information becomes available, updates on the investigation will likely be released to the public.

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