ENB and ET Announce Open Season for Southern Illinois Connector

Enbridge Inc. ENB and partner Energy Transfer ET, two of the leading midstream energy companies, have mentioned that they are considering an expansion of pipeline capacity to transport incremental volumes of crude from the Western Canadian Sedimentary Basin to markets along the U.S. Gulf Coast and oil hubs located in Illinois.The project, named Southern Illinois Connector, is expected to add 200,000 barrels per day of additional capacity, achieved through the upgradation of the existing pipeline. This implies that the project would increase the crude transportation capacity along the system. Additionally, the project involves building a new segment that would connect the oil hubs of Wood River and Patoka in Illinois.Enbridge mentioned that the pipeline expansion is aimed at meeting the rising industry demand for increased pipeline access from Flanagan, IL, to the U.S. Gulf Coast. The construction of the new pipeline segment is intended to support the increase in crude oil volumes from Canada. The open season intends to measure market interest in enhancing crude flows from Canada to the United States.ENB and ET have not released the exact details of the project yet. The open season will close on July 18, 2025. During the open season, interested shippers can demonstrate whether they would like to reserve pipeline capacity as per their needs.Per a Bloomberg report, ENB’s Mainline system could facilitate the transportation of Canadian crude oil to the Patoka Hub. The Southern Illinois Connector would connect to Energy Transfer’s Crude Oil Pipeline at the Patoka Hub, which transports crude to an oil terminal in Nederland, TX. The terminal further supplies refineries in the Port Arthur region.Zacks Rank & Key PicksCurrently, both ENB and ET carry a Zacks Rank #3 (Hold).Some better-ranked stocks from the energy sector are Flotek Industries Inc. FTK and Oceaneering International OII. While Flotek Industries sports a Zacks Rank #1 (Strong Buy) at present, Oceaneering International carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.Flotek Industries specializes in green chemistry, which provides innovative solutions aimed at reducing the environmental impact of the energy industry. Flotek develops specialty chemicals tailored for both domestic and international energy producers, as well as oilfield service companies. These chemicals not only help reduce the environmental impact of hydrocarbon production but also lower operational costs.Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. The company is a leading offshore equipment and technology solutions provider to the energy industry. OII’s proven ability to deliver innovative, integrated solutions supports ongoing client retention and new business opportunities, ensuring steady revenue growth.Only $1 to See All Zacks' Buys and SellsWe're not kidding.Several years ago, we shocked our members by offering them 30-day access to all our picks for the total sum of only $1. No obligation to spend another cent.Thousands have taken advantage of this opportunity. Thousands did not - they thought there must be a catch. Yes, we do have a reason. We want you to get acquainted with our portfolio services like Surprise Trader, Stocks Under $10, Technology Innovators,and more, that closed 256 positions with double- and triple-digit gains in 2024 alone.See Stocks Now >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Oceaneering International, Inc. (OII): Free Stock Analysis Report Enbridge Inc (ENB): Free Stock Analysis Report Energy Transfer LP (ET): Free Stock Analysis Report Flotek Industries, Inc. (FTK): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).Zacks Investment ResearchWeiter zum vollständigen Artikel bei Zacks Weiter zum vollständigen Artikel bei Zacks