May 12, 2016 / 11:17 AM / 2 years ago

BRIEF-Enbridge reports Q1 adjusted earnings of $0.76 per share

May 12 (Reuters) - Enbridge Inc

* Enbridge working to restart regional oil sands pipelines as risk from wildfires in northeastern Alberta moderates

* Since shutdown of Enbridge’s facilities, deliveries from co’s regional oil sands pipelines reduced by about 900,000 barrels per day

* Currently expects that system capacity will be restored over the next few days subject to ongoing access to facilities

* On may 10, 2016, Enbridge announced acquisition of a 50% interest in EMF, a french offshore wind development company, for $282 million

* Impact of the wildfires on the financial performance of the company cannot be accurately estimated at this time

* Upon closing of deal, Enbridge,EDF en to co-develop 3 large-scale offshore wind farms that would produce a combined 1,428 (MW) of power

* Disruption of service on regional oil sands and downstream pipelines not expected to significantly impact financial performance in 2016

* Commencing with q1 of 2016, Enbridge has adopted a new financial reporting format

* From Q1 2016, new financial format focuses on operating, financial performance of five major business lines

* Average deliveries on mainline system ex-Gretna and on Lakehead pipeline system in q1 of 2016 were over 2.5 million barrels per day

* Enbridge reports first quarter adjusted earnings of $663 million or $0.76 per common share

* Q1 adjusted earnings per share C$0.76

* Q1 earnings per share C$1.38

* Q1 earnings per share view C$0.64 — Thomson Reuters I/B/E/S Source text for Eikon: Further company coverage: (Bengaluru Newsroom: +1-646-223-8780)

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