CALGARY, April 20, 2016 /CNW/ - Pembina Pipeline
Corporation ("Pembina" or "the Company") (TSX: PPL; NYSE: PBA) is
pleased to announce that that the Company has completed its
previously announced acquisition (the "Transaction") of certain
sour natural gas processing assets (the "Assets") from Paramount
Resources ("Paramount").
"I am very pleased to add these large-scale, newly constructed
and integrated assets to our Cutbank Complex," said Jaret Sprott, Pembina's Vice President, Gas Services. "These
assets will substantially increase Pembina's service offering through the
addition of sour processing and strengthens our strategic
positioning in one of our core areas. Furthermore, these assets
will support some of the most economic geology in North America and are underpinned by a 20
year take-or-pay commitment."
The Transaction was funded through net proceeds from the
Company's previously announced common share offering, which closed
on March 29, 2016, as well as
existing capacity under the Company's recently increased
$2.5 billion credit facility.
For additional information on the Transaction, including a
description of the Assets acquired, please see Pembina's website at www.pembina.com.
About Pembina
Calgary-based Pembina Pipeline
Corporation is a leading transportation and midstream service
provider that has been serving North
America's energy industry for over 60 years. Pembina owns and operates an integrated system
of pipelines that transport various products derived from natural
gas and hydrocarbon liquids produced in western Canada and North
Dakota. The Company also owns and operates gas gathering and
processing facilities and an oil and natural gas liquids
infrastructure and logistics business. Pembina's integrated assets and commercial
operations along the entire hydrocarbon value chain allow it to
offer a full spectrum of midstream and marketing services to the
energy sector. Pembina is
committed to working with its community and aboriginal neighbours,
while providing value for investors in a safe, environmentally
responsible manner. This balanced approach to operating ensures the
trust Pembina builds among all of
its stakeholders is sustainable over the long-term. Pembina's common shares trade on the
Toronto and New York stock exchanges under PPL and PBA,
respectively. For more information, visit www.pembina.com.
Forward-Looking Statements & Information
This document contains certain forward-looking statements and
information (collectively, "forward-looking statements") within the
meaning of the "safe harbor" provisions of applicable securities
legislation that are based on Pembina's current expectations, estimates,
projections and assumptions in light of its experience and its
perception of historical trends. In some cases, forward-looking
statements can be identified by terminology such as "expects",
"will", "shall", and similar expressions suggesting future events
or future performance.
In particular, this document contains forward-looking
statements, pertaining to, without limitation, the following: the
Transaction, including the anticipated benefits of the Transaction
to Pembina; financial results
related to and growth opportunities associated with the assets
acquired pursuant to the Transaction; the economics associated with
the areas surrounding the Assets; the ongoing utilization and
expansions of and additions to Pembina's business and asset base, growth and
growth potential.
These forward-looking statements and information are being
made by Pembina based on certain
assumptions that Pembina has made
in respect thereof as at the date of this news release, including:
that favourable growth parameters continue to exist in respect of
current and future growth projects (including the ability to
finance such projects on favourable terms); future levels of oil
and natural gas development; potential revenue and cash flow
enhancement; future cash flows; and that Pembina's businesses will continue to achieve
sustainable financial results.
Although Pembina believes
the expectations and material factors and assumptions reflected in
these forward-looking statements are reasonable as of the date
hereof, there can be no assurance that these expectations, factors
and assumptions will prove to be correct.
These forward-looking statements are not guarantees of future
performance and are subject to a number of known and unknown risks
and uncertainties, including, but not limited to: non-performance
of agreements in accordance with their terms; the failure to
realize the anticipated benefits of the Transaction following
closing due to integration issues or otherwise; the impact of
competitive entities and pricing; reliance on key industry
partners, alliances and agreements; the strength and operations of
the oil and natural gas production industry and related commodity
prices; the continuation or completion of third-party projects;
regulatory environment and inability to obtain required regulatory
approvals; tax laws and treatment; fluctuations in operating
results; lower than anticipated results of operations and accretion
from Pembina's business
initiatives; reduced amounts of cash available for dividends to
shareholders; the ability of Pembina to raise sufficient capital (or to
raise capital on favourable terms) to complete future projects and
satisfy future commitments and certain other risks detailed from
time to time in Pembina's public
disclosure documents including, among other things, those detailed
under the heading "Risk Factors" in Pembina's management's discussion and analysis
and annual information form for the year ended December 31, 2015, which can be found at
www.sedar.com.
Accordingly, readers are cautioned that events or
circumstances could cause results to differ materially from those
predicted, forecasted or projected. Such forward-looking statements
are expressly qualified by the above statements. The
forward-looking statements contained in this document speak only as
of the date of this document. Pembina does not undertake any obligation to
publicly update or revise any forward-looking statements or
information contained herein, except as required by applicable
laws.
The forward-looking statements contained in this document are
expressly qualified by this cautionary statement.
Pembina Pipeline® is a registered trademark of
Pembina Pipeline Corporation.
SOURCE Pembina Pipeline Corporation