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Pembina Pipeline Corporation Announces New Montney Infrastructure and Increases 2018 Guidance
Pembina Pipeline Corporation Announces New Montney Infrastructure and Increases 2018 Guida...
About this update from Pembina Pipeline Corporation
[{"type":"text","content":"\n\n\n\nPembina Pipeline Corporation Announces New Montney Infrastructure and Increases 2018 Guidance\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nCALGARY, Sept. 24, 2018\n\n\n\nCALGARY, Sept. 24, 2018 /CNW/ - Pembina Pipeline Corporation (\"Pembina\" or the \"Company\") (TSX: PPL; NYSE: PBA) is pleased to announce an increase to its 2018 Adjusted EBITDA guidance range to $2.75 to $2.85 billion.  The Company is also pleased to announce that in conjunction with incremental volume commitments from customers on the Peace pipeline, Pembina will be developing additional pipeline and terminalling infrastructure in the Wapiti region near Grande Prairie, Alberta and in northeast B.C.  The new infrastructure will have a combined aggregate capital cost of approximately $120 million and will be underpinned by long-term, take-or-pay commitments.  \n2018 Guidance\nPembina announced today that based on strong year-to-date results and the outlook for the remainder of the year, the Company has updated its 2018 Adjusted EBITDA guidance range to $2.75 to $2.85 billion, up from $2.65 to $2.75 billion. \"Pembina's base business is performing well. We are seeing increased throughput on our conventional pipelines and fractionators, strong results from the assets acquired previously from Veresen and higher marketing revenues due to widening frac spreads,\" said Scott Burrows, Senior Vice President and Chief Financial Officer.\nPipelines Division Update\nPembina continues to experience strong demand for transportation services across the liquids-rich areas of the Western Canada Sedimentary Basin.  Since sanctioning the Phase VI expansion (\"Phase VI\") earlier this year, Pembina has continued to add long-term firm service commitments on the Peace and Northern Pipeline systems. Since Phase VI was originally announced in May 2018, Pembina has secured a total of 50,000 barrels per day (\"bpd\") of additional firm service commitments.  As a result, peak firm volume commitments will reach approximately 885,000 bpd in 2019. \n\"Our strateg...