Skip to main content

Pembina completes acquisition of Paramount gas processing assets

Published by , Editor - Hydrocarbon Engineering
Hydrocarbon Engineering,


Pembina Pipeline Corporation has announced that that the company has completed its previously announced acquisition of certain sour natural gas processing assets from Paramount Resources.

"I am very pleased to add these large scale, newly constructed and integrated assets to our Cutbank Complex," said Jaret Sprott, Pembina's Vice President, Gas Services. "These assets will substantially increase Pembina's service offering through the addition of sour processing and strengthens our strategic positioning in one of our core areas. Furthermore, these assets will support some of the most economic geology in North America and are underpinned by a 20 year take-or-pay commitment."

The transaction was funded through net proceeds from the company's previously announced common share offering, which closed on 29 March 2016, as well as existing capacity under the company's recently increased US$2.5 billion credit facility.


Adapted from press release by Rosalie Starling

Read the article online at: https://www.hydrocarbonengineering.com/gas-processing/21042016/pembina-completes-acquisition-of-paramount-gas-processing-assets-3087/

You might also like

TotalEnergies and SINOPEC join forces to produce SAF

TotalEnergies and China Petroleum and Chemical Corp. (SINOPEC) have signed a Heads of Agreement (HoA) to jointly develop a sustainable aviation fuel (SAF) production unit at a SINOPEC's refinery in China.

 
 

Embed article link: (copy the HTML code below):