Welcome to our dedicated page for Pembina Pipeline news (Ticker: PBA), a resource for investors and traders seeking the latest updates and insights on Pembina Pipeline stock.
Pembina Pipeline Corporation (PBA) generates frequent news and disclosures related to its role as an energy transportation and midstream service provider in North America. News coverage commonly highlights developments across its Pipelines, Facilities, and Marketing & New Ventures divisions, as well as updates on major projects and capital markets activity.
Investors following Pembina’s news can expect regular updates on financial guidance, quarterly financial and operating results, and changes to adjusted EBITDA outlooks. The company issues news releases on its capital investment plans, including spending in the Pipelines and Facilities divisions and contributions to equity-accounted investees such as Pembina Gas Infrastructure and Cedar LNG.
Project-related news often focuses on pipeline expansions and major infrastructure initiatives. Examples include expansions of the Peace Pipeline system, development of the Fox Creek-to-Namao expansion, the Taylor-to-Gordondale project, and the Birch-to-Taylor NEBC system expansion. Pembina also reports on progress at its gas processing and fractionation facilities, such as the Wapiti Expansion, the K3 cogeneration facility, and the RFS IV propane-plus fractionator at the Redwater Complex.
Pembina’s news flow also covers LNG and export developments, particularly the Cedar LNG project, where the company has announced long-term liquefaction capacity agreements with counterparties such as PETRONAS and Ovintiv. Additional items include regulatory milestones for assets like the Alliance Pipeline and updates on new platforms such as the Greenlight Electricity Centre, a proposed gas-fired power generation project in Alberta.
Capital markets and corporate news can feature subordinated note offerings, preferred share dividend declarations, and conference call and webcast details for earnings releases. For readers tracking PBA, this news page provides an organized view of Pembina’s operational progress, project milestones, financing activities, and strategic initiatives across its integrated midstream network.
Pembina Pipeline (NYSE: PBA) has successfully redeemed $150 million of its $300 million Series 19 Medium Term Notes, due June 22, 2026. The redemption occurred on July 6, 2024, at a price of approximately $1,002.19 per $1,000 principal amount, covering the principal and accrued interest. Pembina financed this redemption using a portion of the $950 million raised from a recent senior unsecured medium-term notes offering.
The Series 19 Notes were initially issued on June 20, 2023, under a pricing supplement to Pembina's 2021 short form base shelf prospectus. Detailed information is available on Pembina's SEDAR+ profile.
Pembina Pipeline announced that its subsidiary, Pembina Gas Infrastructure (PGI), has agreed to acquire a 50% working interest in Whitecap Resources' Kaybob Complex for $420 million ($252 million net to Pembina). PGI will fund Whitecap's Lator area development and gain long-term take-or-pay agreements for its infrastructure. Additionally, new and extended agreements have been signed for integrated transportation, fractionation, and marketing services, enhancing utilization of PGI and Pembina's assets. The deal is expected to close in Q3 2024.
Pembina Pipeline (TSX: PPL; NYSE: PBA) has successfully closed a $950 million public note offering. The offering consists of three tranches: $650 million in Series 23 Notes with a 5.22% coupon maturing in 2033, $150 million in Series 20 Notes with a 5.02% coupon maturing in 2032, and $150 million in Series 22 Notes with a 5.67% coupon maturing in 2054. The proceeds will be used to repay debt under Pembina's revolving credit facility, fund the redemption of $150 million of Series 19 Notes due in 2026, and for general corporate purposes. The notes were offered via a short form base shelf prospectus dated December 20, 2023, and related pricing supplements dated June 26, 2024.
Pembina Pipeline announced a $950 million public offering of senior unsecured medium-term notes. The offering will be in three tranches: $650 million of Series 23 Notes with a 5.22% coupon maturing on June 28, 2033; $150 million of Series 20 Notes with a 5.02% coupon maturing on January 12, 2032; and $150 million of Series 22 Notes with a 5.67% coupon maturing on January 12, 2054.
The closing is expected on June 28, 2024. Pembina plans to use the proceeds to repay existing debt, redeem $150 million of Series 19 Notes due in 2026, and for general corporate purposes. The notes are offered under a short form base shelf prospectus and relevant pricing supplements. This offering is not registered under the U.S. Securities Act of 1933 and cannot be sold in the U.S.
Pembina Pipeline (TSX: PPL; NYSE: PBA) announced its plan to redeem its $300 million Series 19 medium-term notes due June 22, 2026, on July 6, 2024. The redemption price is about $1,002.19 per $1,000 principal amount, including accrued interest. This move is contingent upon a satisfactory offering of new debt securities. Details will be provided in a notice to CDS Clearing and Depository Services Inc., the registered holder. For more information, non-registered holders should contact their broker or financial intermediary.
The Haisla Nation and Pembina Pipeline have announced a positive Final Investment Decision (FID) for the Cedar LNG Project, a floating LNG facility with a capacity of 3.3 million tonnes per annum (mtpa), located on the West Coast of Canada. This project marks a historic milestone as the world's first Indigenous majority-owned, hydro-powered LNG facility. Powered by renewable electricity from BC Hydro, it aims to be one of the lowest-emitting LNG facilities globally. The project's total estimated cost is approximately $4.0 billion, with 60% funded through asset-level debt financing and the remaining 40% through equity contributions from both partners. Cedar LNG has secured 20-year take-or-pay liquefaction tolling services agreements with ARC Resources and Pembina. The facility is expected to be operational by late 2028, creating up to 500 construction jobs and 100 full-time operational jobs. The project aims to leverage Canada's natural gas supply to provide a lower-carbon energy option to global markets.
Pembina Pipeline (TSX: PPL; NYSE: PBA) announced that no conversions of its Cumulative Redeemable Rate Reset Class A Preferred Shares, Series 5 (TSX: PPL.PR.E), will occur into Cumulative Redeemable Floating Rate Class A Preferred Shares, Series 6, on June 1, 2024. This decision follows the insufficient number of conversion notices received by the May 17, 2024, deadline. Less than the 1,000,000 Series 5 Shares required for conversion to Series 6 Shares were tendered. The full press release, including multimedia, is available on Business Wire's website.
Pembina Pipeline will host its 2024 Investor Day in Toronto, Ontario, starting at 8:30 a.m. ET. The event will provide an overview of Pembina's business and outlook amidst changes in the western Canadian energy industry. Pembina plans to invest and grow its core business in response to increasing energy demand, while also driving long-term resilience by offering new services for a lower-carbon economy.
The company expects multi-year volume growth driven by the completion of the Trans Mountain Pipeline expansion, new West Coast LNG and NGL export capacity, and new petrochemical facilities. Pembina forecasts a 4% to 6% compound annual growth of fee-based adjusted EBITDA per share through 2026, with capital expenditures ranging from $2.2 billion to $4.0 billion. The Cedar LNG project is progressing towards a final investment decision in June 2024.
Pembina Pipeline (TSX: PPL; NYSE: PBA) announced the renewal of its normal course issuer bid (NCIB) to repurchase up to five percent of its issued and outstanding common shares.
This renewal, approved by the Toronto Stock Exchange, allows Pembina to buy back up to 28,976,578 common shares between May 16, 2024, and May 15, 2025. As of May 8, 2024, Pembina had 579,531,577 common shares outstanding.
The repurchased shares will be cancelled. Pembina believes that its shares sometimes trade below their intrinsic value, making repurchases an efficient use of financial resources.
The number of shares repurchased will depend on financial performance, cash availability, and other investment opportunities. Pembina’s previous NCIB expired on March 9, 2024, under which it repurchased 1,197,432 shares at an average price of $41.76 per share.
Pembina Pipeline reported the voting results from its annual meeting of common shareholders, with a total of 549,576,825 common shares voted. The election of directors, appointment of auditors, and acceptance of the company's approach to executive compensation were successfully approved.