Pembina Pipeline Corp , which operates regional pipelines in western Canada, said on Tuesday it has agreed to pay $650 million to acquire Vantage pipeline system, which carries up to 40,000 barrels per day of natural gas liquids from North Dakota's Bakken shale field to southern Alberta.Pembina is also buying Mistral Midstream Inc's interest in a Saskatchewan ethane processing plant from private-equity fund Riverstone Holdings LLC. The plant, which will connect to the Vantage system, is expected to supply about 4,500 barrels of ethane per day when it begins production in mid-2015.Along with the acquisition, the company said it also plans to build a 37,500-barrel-per-day propane export terminal in Portland, Oregon, for $500 million. The facility is expected to be in service by 2018.The acquisition of the recently built Vantage line gives the company access to ethane from the Bakken field. Ethane is a key petrochemical feedstock used to make plastic and other materials.
Pembina Pipeline Corporation (Pembina) is a Calgary-based company, engaged in providing transportation and midstream services. Shares of PBA traded higher by 1.72% or $0.79/share to $46.74. 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 76136.
Pembina Pipeline Corporation (Pembina) is a Calgary-based company, engaged in providing transportation and midstream services. Shares of PPL traded higher by 2.28% or $1.14/share to $51.11. 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 377562.
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