Canada's Pembina Pipeline Corp said it would purchase the Vantage pipeline system, gaining access to the prolific Bakken shale field in North Dakota.Vantage, a recently constructed pipeline system with a capacity of 40,000 barrels per day, originates in North Dakota and ends at Alberta.Pembina is buying Vantage as well as Mistral Midstream Inc's interest in the Saskatchewan ethane plant from Riverstone Holdings LLC for $650 million. The plant, which will connect to the Vantage system, is expected to produce about 4,500 barrels of ethane per day.Pembina said the deal was expected to add to cash flow per share in 2016.
Pembina Pipeline Corporation (Pembina) is a Calgary-based company, engaged in providing transportation and midstream services. Shares of PBA remained unchanged at $45.95. In the past year, the shares have traded as low as $30.44 and as high as $46.03. On average, 160144 shares of PBA exchange hands on a given day and today's volume is recorded at 3500.
Pembina Pipeline Corporation (Pembina) is a Calgary-based company, engaged in providing transportation and midstream services. Shares of PPL traded higher by 0.48% or $0.24/share to $49.97. In the past year, the shares have traded as low as $31.88 and as high as $49.97. On average, 670398 shares of PPL.TO exchange hands on a given day and today's volume is recorded at 637955.
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