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Tuesday, September 2, 2014

Pembina to purchase Vantage pipeline, ethane plant for $650 mln, (NYSE: PBA), (TSE: PPL.TO)

Canada's Pembina Pipeline Corp said it would purchase the Vantage pipeline system and Mistral Midstream Inc's interest in the Saskatchewan ethane extraction plant from Riverstone Holdings LLC for $650 million. Vantage pipeline system will provide Pembina access to North Dakota's Bakken play, considered one of North America's most prolific shale formations, where more than 1 million barrels of oil are extracted daily.Pembina said the deal was expected to add to cash flow per share in 2016.Separately, Pembina also said it had reached an agreement for the site of its proposed West Coast propane export terminal project with the Port of Portland, Oregon.

Pembina Pipeline Corporation (Pembina) is a Calgary-based company, engaged in providing transportation and midstream services. Shares of PBA traded higher by 0.2% or $0.09/share to $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 161722.

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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