Pembina Pipeline Corp. (PBA) - NYSE
  • Thu, Jul. 14, 2:52 PM
    • Williams Cos. (WMB +5.6%) moves sharply higher following a Reuters report that it has received at least seven bids for its Canada unit, in a potential sale that could fetch $1B-$2B.
    • Interest has come from pipeline companies Enbridge (ENB -0.4%), Pembina (PBA +0.5%), Keyera (OTC:KEYUF) and Inter Pipeline (OTCPK:IPPLF), as well as three Canadian pension plans, and an unspecified number of U.S. companies, according to the report.
    • The sale process reportedly is at an advanced stage, and a deal could result by the end of the month; interest is said to be strong, highlighting demand for midstream assets that offer a steady cash flow despite volatile oil prices.
    • Also: WPZ +3.3%, EEP +0.1%.
    | Thu, Jul. 14, 2:52 PM | 14 Comments
  • Thu, Mar. 17, 5:15 PM
    • Pembina Pipeline (NYSE:PBA) agrees to acquire certain sour natural gas processing assets from Paramount Resources (OTCPK:PRMRF) for ~$556M.
    • The assets include Paramount's recently constructed Kakwa sour natural gas processing complex and associated infrastructure including gas gathering pipelines, sales gas pipeline and future disposal wells.
    • PBA says the deal will add 250M cf/day of processing capacity in one of its core areas and increase total processing capacity under its gas services business to more than 1.7Bcf/day; the company expects the deal to be immediately accretive to earnings.
    • PBA also says it is increasing its monthly dividend to $0.16/share from $0.1525/share.
    • To fund the deal, PBA enters into a $300M bought deal financing for ~8.8M shares priced at $34/share.
    • PBA -3.1% AH.
    | Thu, Mar. 17, 5:15 PM | 2 Comments
  • Sep. 2, 2014, 8:18 AM
    • Pembina Pipeline (NYSE:PBA) agrees to acquire the Vantage pipeline system and Mistral Midstream's interest in the Saskatchewan Ethane Extraction Plant for $650M from entities affiliated with Riverstone Holdings.
    • Vantage links ethane from the Bakken shale play to the petrochemical market in Alberta, originating from a large-scale gas plant in Tioga, N.D.
    • PBA expects the transaction to be neutral to cash flow per share in 2015 and accretive in 2016.
    • PBA plans for pay for part of the deal through a $150M bought-deal offering of 6M preferred shares.
    • Separately, PBA reaches agreement with the Port of Portland in Oregon to enable the development of its planned west coast propane export terminal project, envisioned as a ~$500M, 37K bbl/day facility with an expected in-service date of early 2018.
    | Sep. 2, 2014, 8:18 AM
  • Jan. 16, 2012, 3:14 PM

    Pembina Pipeline (PBNPF.PK) is buying Provident Energy (PVX) for around C$3.2B ($3.1B) in stock, creating Canada's third-largest energy-infrastructure company. Using Pembina's Friday close, the deal carries a 25% premium over Provident's Canadian close.

    | Jan. 16, 2012, 3:14 PM | 12 Comments
Company Description
Pembina Pipeline Corp. is a transportation and midstream services company. Pembina owns and operates pipelines that transport various hydrocarbon liquids, including conventional and synthetic crude oil, heavy oil and oil sands products, condensate and natural gas liquids produced in western... More
Industry: Oil & Gas Pipelines
Country: Canada