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South Bow has safely restarted the Keystone Pipeline after receiving regulatory approval from PHMSA, following an oil release of approximately 3,500 barrels at Milepost 171 near Fort Ransom, North Dakota on April 8, 2025.
The company repaired and replaced the affected pipe, recovered most of the released oil, and is remediating impacted soil. PHMSA issued a Corrective Action Order on April 11, 2025, requiring specific corrective actions and operating pressure restrictions, which South Bow has implemented on both US and Canadian sections. Air quality monitoring has shown no adverse health or public concerns. South Bow remains focused on cleanup and ongoing communication with regulators, customers, and the community.
South Bow Corp (TSX & NYSE: SOBO) has announced key upcoming events for shareholders and investors. The company will release its first-quarter 2025 financial and operational results after market close on May 15, 2025.
A conference call and webcast with senior leadership to discuss Q1 2025 results is scheduled for May 16, 2025, at 8 a.m. MT (10 a.m. ET). Additionally, the company's annual general meeting will be held virtually on May 15, 2025, at 8 a.m. MT via live audio webcast to facilitate broader shareholder participation.
Shareholders can access detailed voting information and meeting materials through South Bow's website, SEDAR+, and SEC filings. The company's audited consolidated financial statements and management's discussion for the year ended December 31, 2024, are available through these same channels.
South Bow Corp (TSX & NYSE: SOBO) reported an oil release incident at Milepost 171 of the Keystone Pipeline near Fort Ransom, North Dakota. The incident was detected on April 8, 2025, at 7:42 a.m. CT when control centre systems identified a pressure drop. The pipeline was shut down within two minutes.
The estimated release volume is approximately 3,500 barrels. The company has confirmed that the affected segment has been isolated and the release has been contained. South Bow has implemented emergency response procedures, including:
- Around-the-clock air and environment monitoring
- Site remediation efforts
- Focus on staff and community safety
- Environmental risk mitigation
The company commits to providing ongoing updates through their website at www.southbow.com/incident-response.
South Bow Corp (TSX & NYSE: SOBO) has reported its Q4 and full-year 2024 results following its spinoff from TC Energy on October 1, 2024. The company demonstrated strong operational performance with a 95% System Operating Factor and increased pipeline throughput by 5% to 626,000 barrels per day in 2024.
Financial highlights include:
- Q4 2024 revenue of $488 million and full-year revenue of $2.12 billion
- Q4 net income of $55 million ($0.26/share) and full-year net income of $316 million ($1.52/share)
- Q4 normalized EBITDA of $290 million, up 11% from Q3 2024
- Full-year normalized EBITDA of $1.091 billion, a 2% increase from 2023
The company declared a quarterly dividend of $0.50 per share, payable April 15, 2025. For 2025, South Bow projects normalized EBITDA of approximately $1.01 billion, with 90% secured through committed arrangements. The company expects its net debt-to-normalized EBITDA ratio to increase to approximately 4.8 times by end of 2025.
South Bow Corp (TSX & NYSE: SOBO) has announced the schedule for its fourth-quarter and year-end 2024 financial results release. The company will disclose its results after market close on March 5, 2025.
Following the release, South Bow's senior leadership will host a conference call and webcast on March 6, 2025, at 8 a.m. MT (10 a.m. ET) to discuss the results and provide their 2025 outlook. Participants can register in advance to receive a unique PIN for telephone access or use the 'Call Me' feature for automated dialing.
The event will be accessible through both conference call and webcast links provided by the company. A replay of the event will be available on the company's investor website at www.southbow.com/investors.
South Bow Corp (TSX & NYSE: SOBO) has announced its first-ever quarterly dividend of U.S.$0.50 per share. The dividend will be paid on January 31, 2025, to shareholders recorded as of December 31, 2024. The company has confirmed that these dividends will qualify as eligible dividends for Canadian tax purposes.
South Bow Corp (TSX & NYSE: SOBO) warns shareholders about an unsolicited mini-tender offer from TRC Capital Investment Corp. to purchase up to 3 million common shares (1.4% of outstanding shares) at C$31.95 per share. The offer price represents a 4.6% discount to the Oct. 28 closing price and a 7.4% discount to the Nov. 1 closing price. South Bow strongly recommends shareholders reject this below-market offer and exercise caution, noting that mini-tender offers typically avoid many investor protections required by Canadian and U.S. securities laws.
South Bow (SOBO) has officially launched as an independent company, separating from TC Energy The company's shares will begin trading on the Toronto Stock Exchange on Oct. 2, 2024, and are expected to start trading on the New York Stock Exchange around Oct. 8, 2024. South Bow is a liquids pipelines company connecting Canadian crude oil supply to U.S. Midwest and Gulf Coast markets.
The company plans to focus on creating long-term value through a disciplined approach to capital allocation, prioritizing financial strength and low-risk investments. South Bow intends to pay a strong and sustainable base dividend, with the inaugural dividend expected to be declared on Nov. 7, 2024, and paid on Jan. 31, 2025. TC Energy shareholders of record on Sept. 25, 2024, received one South Bow common share for every five TC Energy common shares owned.
