Pembina Pipeline Corp.NYSE
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  • 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