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ENBBF - Energy Transfer May Be Forced To Cut Its Distribution: Dakota Access Pipeline Ruling Implications
Enbridge Inc Cum Red Pref Shs Ser J
On July 6th a US district court ordered the Dakota Access Pipeline (DAPL) to shut down by August 6th, pending further environmental review. This sent the share prices of affected companies Energy Transfer (ET), Continental (CLR), Phillips 66 Partners (PSXP) and others down substantially:
One of the largest companies directly affected by this is Energy Transfer. As the operator of the Dakota Access Pipeline and largest working interest owner, Energy Transfer may see substantially lower operating cash flow if this court order stands through appeals. And