Overview

• South Bow has fully restored operations on the Keystone pipeline following a PHMSA-approved reduced-pressure restart in mid-May.
• The company reported net income of $96 million in the quarter ending June 30, up from $88 million a year earlier on both reported and adjusted bases.
• Cleanup of the roughly 3,500-barrel spill near Fort Ransom concluded in early June with total costs projected at $60 million.
• Early tests identified a seam weld crack as the likely source of the April 8 leak near Fort Ransom, North Dakota.
• South Bow plans to release a third-party root cause failure analysis in September and is enhancing its ongoing integrity program.