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TransCanada says Bison Pipeline repaired after explosion

TransCanada Corp. (TRP:NYSE) recently announced that repairs to its Bison Pipeline in northeast Wyoming have been completed, reports Platts.

According to the Billings Gazette, the natural gas pipeline exploded on July 20, and there were signs of mechanical damage.

"Something hit it," James Millar of TransCanada told the news source. "We don't know when, we don't know what, so we're continuing analysis on that as you would expect."

Millar said that the company has finished repairs to the 30-inch underground pipeline. The Calgary, Alberta-based company is currently working with the U.S. Department of Transportation Pipeline and Hazardous Materials Safety Administration to get the pipeline restarted, but as of yet no date has been set, according to Platts.

The Bison Pipeline, which is 302 miles long, carries gas from the Powder River Basin in Wyoming to North Dakota's Northern Border pipeline, eventually making its ways to customers in the Midwest.

According to Reuters, TransCanada stock's 52-week high was $45.09, while its low over that period was $34.23. Currently it is trading around $42.04 per share.



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