BOE Report TC Energy shareholders voted in favour of spinning off the Canadian company’s liquids pipeline business on Tuesday, creating a new energy infrastructure firm known as South Bow Corp whose assets include the Keystone oil pipeline. The spin-off will help Calgary-based TC lower its high debt load and focus on moving natural gas. South Bow’s assets consist of nearly 4,900
Reuters FRANKFURT/DUESSELDORF – Siemens Energy, the power division being spun off from parent Siemens (SIEGn.DE) next month, plans to close plants in an effort to raise margins, a person close to the company said. “Production sites will be shut down,” the person said, adding Siemens Energy currently has around 75 factories globally that employ more than 50 staff each. The
LINN Energy, Inc. (OTCQB:LNGG) announced that its Board of Directors has unanimously approved the previously announced spin-off of Riviera Resources, Inc. from LINN. Following the Spin-Off and the transactions contemplated thereby, for each share of LINN common stock held on the record date, LINN stockholders will own one share each of: LINN (OTC:LNGG), which will own a 50% equity interest
CONSOL Energy (ticker: CNX), a Pittsburgh based coal mining and natural gas exploration company plans to split the corporation into two separate companies, one focusing on natural gas exploration and production, the other focusing on coal mining. The company’s Pennsylvania Mining Complex, which is comprised of the Bailey, Enlow Fork, and Harvey mines as well as a coal preparation plant,
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