TC Energy Says Marcellus/Utica Drillers “Tapping the Brakes”

TC Energy (once upon a time called TransCanada Corporation) is a major pipeline company in North America. The company has a big presence in the Marcellus/Utica region via its Columbia Pipeline subsidiary. Last week TC Energy issued its fourth-quarter and full-year 2019 update and hosted a quarterly conference call with analysts. While the official update contains a mention about the company’s Buckeye XPress project (see TC Energy/Columbia Finally Get FERC Approval for Buckeye XPress), of primary interest for us were comments by TC management about Columbia’s M-U customers and what the company might do if drillers come knocking on the door in “financial distress.”

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