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.
Encana (ECA +1.7%) hopes to triple output of LNG at its plants in Alberta to 30K barrels/day as one of its partners, Pembina Pipeline (PBNPF.PK +1.2%), invests C$230M to build a new pipeline for transport. Encana hopes to start moving the additional fuel by late 2013. (PR)