Pembina Pipeline Corporation (“Pembina” or the “Company”) (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the second quarter of 2025.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250807818553/en/
Check Out: 📢Wall Street’s Quiet Move Could Change Your Wealth Forever—Act Before It’s Full
Highlights
- Quarterly Results – Reported second quarter earnings of $417 million, adjusted EBITDA of $1,013 million, and adjusted cash flow from operating activities of $698 million ($1.20 per share).
- Adjusted EBITDA Guidance – Pembina has updated its 2025 adjusted EBITDA guidance range to $4.225 billion to $4.425 billion.
- Enhanced Propane Exports – Through a new commercial agreement and a newly sanctioned project, Pembina will have access to 50,000 barrels per day (“bpd”) of highly competitive propane export capacity. Pembina has approved a $145 million optimization of its 20,000 bpd Prince Rupert Terminal (“PRT”) that will expand market access and significantly reduce shipping costs per unit, thereby improving netbacks for Pembina and its customers. In addition, Pembina has entered into a long-term tolling agreement with AltaGas Ltd. (“AltaGas”) for 30,000 bpd of liquified petroleum gases (“LPG”) export capacity at AltaGas’ current Ridley Island Propane Export Terminal (“RIPET”) and future Ridley Island Energy Export Facility (“REEF”).
- PGI Duvernay Acquisition and New Commercial Agreements – Pembina Gas Infrastructure (“PGI”) has acquired the remaining 8.33 percent interest in three gas processing trains and related infrastructure at PGI’s Duvernay Complex from Whitecap Resources Inc. (“Whitecap”) for $55 million ($33 million net to Pembina) and concurrently entered into new and extended long-term take-or-pay agreements at the Duvernay Complex and KA Plant. In addition, PGI has entered into an agreement with a Montney producer to fund and acquire an under-construction battery and additional infrastructure for a capital commitment up to $150 million ($90 million net to Pembina), which will be supported by a new long-term take-or-pay agreement.
- Advancing NGL and Condensate Pipeline Expansions – Pembina continues to advance more than $1 billion of proposed conventional pipeline expansions to reliably and cost-effectively meet rising transportation demands from growing production in the Western Canadian Sedimentary Basin (“WCSB”). These expansions are secured by long-term contracts underpinned by take-or-pay agreements, areas of dedication across the Montney and Duvernay formations, and other long-term agreements that ensure a strong base of committed volumes. Final investment decisions (“FID”) on the Fox Creek-to-Namao Expansion and the Taylor-to-Gordondale Project are now expected by the end of 2025 and the first quarter of 2026, respectively.
- Cedar LNG Project Milestone – Pembina and its partner, the Haisla Nation, recently celebrated the achievement of a major milestone for the project as construction of the floating LNG vessel began with steel cutting on both the top side facilities and the vessel hull.
- RFS IV – Furthering Pembina’s track record of industry-leading project execution, RFS IV is trending under budget with an anticipated cost of $500 million, approximately five percent below the previous cost estimate.
- Capital Guidance – Pembina has revised its outlook for its 2025 capital investment program to $1.3 billion, reflecting continued progression of proposed conventional pipeline expansions to serve growing customer demand, approval of new projects, and acquisitions at PGI.
Leave a Reply
You must be logged in to post a comment.