Featured Company News – Pembina Pipeline Reached Major Milestone; Announced Placement of About $2.8 billion of Integrated Assets into Service
LONDON, UK / ACCESSWIRE / July 6, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Pembina Pipeline Corp. (NYSE: PBA), following which we have published a free report that can be viewed by signing up at http://protraderdaily.com/optin/?symbol=PBA. The Company announced on July 04, 2017, that the Company as placed about $2.8 billion of integrated capital projects, into service, which includes Phase-III Pipeline expansion, and two connected delivery points, namely, the third fractionator at Redwater (RFS III) and its Canadian Diluent Hub (CDH). For immediate access to our complimentary reports, including today's coverage, register for free now at:
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The Phase-III Expansion
The Phase-III Expansion was placed into service on June 30, 2017, on time and under budget from the $2.44 billion expected capital. The entire Phase-III Expansion program was initiated in 2013, including the installation of over 900 kilometers of new pipeline primarily along the Company's existing Peace and Northern system rights-of-way, and up gradation and addition of new mainline pump stations. The incremental capacity was added in the Fox Creek to Namao corridor of Alberta through the construction of two pipelines, namely a 16-inch and 24-inch diameter pipeline, each spanning about 290 km.
The Phase-III Expansion is completed, and now, the Company has four pipelines between Fox Creek and Namao, allowing the Company to transport four distinct hydrocarbons, ethane-plus, propane-plus, condensate and crude oil – each in its own segregated pipeline, plus upstream capacity to handle higher volumes driven by the development of the Montney, Duvernay and Deep Basin sites. Pembina now aggregately holds over 850,000 bpd of combined capacity between the Peace and Northern Pipeline systems, which connect to the delivery point at Namao.
RFS-III
According to the Company, the RFS-III was also placed into service on June 30, 2017, ahead of schedule and under budget. RFS-III added 55,000 bpd of additional propane-plus fractionation capacity and leveraged the designs of Pembina's first and second fractionators. Post the completion, the Company's Redwater Complex has an aggregate fractionation capacity of about 210,000 bpd, the largest in the Canadian energy infrastructure sector.
CDH
Pembina, in addition to the two steps, placed additional condensate connections at CDH into service on time and under budget. CDH operates commercially as a fee-based hub, delivering direct connectivity for growing condensate volumes transported on Pembina's pipeline systems, and delivers diluent services for oil sands customers. The facility's pipelines are currently capable of delivering about 400,000 bpd of condensate to regional third-party diluent pipelines, with connections to the Access, Cold Lake, Fort Saskatchewan (FSPL) and Polaris pipelines. By December 2017, the CDH is expected to have additional third-party connections and 500,000 barrels of above ground storage in operation.
Company Growth Prospects
Pembina views growth through the projects of Veresen, and the pending successful close of the transaction, the Company announced on May 15, 2017, i.e., the announcement of a joint venture with Petrochemical Industries, Co. of Kuwait, worth £1.2 billion. Hence, collectively, the Company will be placing an additional $3 billion in assets into service on top of the $2.8 billion, announced on July 04, 2017. These projects, according to the Company, with their low-risk, fee-for-service cash flows, will contribute significantly to the projected adjusted EBITDA for the full-year FY18 by $2.55 billion to $2.75 billion.
Last Close Stock Review
Pembina Pipeline's share price finished yesterday's trading session at $33.06, slipping 1.20%. A total volume of 402.60 thousand shares has exchanged hands, which was higher than the 3-month average volume of 353.18 thousand shares. The Company's stock price advanced 3.25% in the last three months, 5.52% in the past six months, and 8.18% in the previous twelve months. Additionally, the stock gained 5.56% since the start of the year. Shares of the Company have a PE ratio of 34.37 and currently have a market cap of $13.22 billion.
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