According to published reports, TransCanada Corp. (TSX: T.TRP, Stock Forum) has won the right of way to build its Keystone XL pipeline across a Texas farm.
The TransCanada pipeline would carry up to 1.1 million barrels of petroleum a day from Alberta to refineries in south Texas.
The civil issue was closed in a county court, after the company’s status as a common carrier was maintained.
TransCanada’s status as a common carrier gives the company the right to seize property.
Julia Crawford, owner of the Texas farm, applied to have the pipeline route moved off her land, but was denied approval.
On Thursday, TransCanada was trading at $44.85 a share. The company has a market cap of $31.6 billion, based on 704.5 million shares outstanding. The 52-week high and low was $46.29 and $39.25 respectively.