Scandinavian Oil-Gas Magazine
http://www.scandoil.com/moxie-bm2/news/pembina-pipeline-to-acquire-vantage-pipeline-syste.shtmlPembina Pipeline to acquire Vantage pipeline system and interest in associated assets
Pembina Pipeline Corporation has entered into agreements to acquire the Vantage pipeline system (Vantage) and Mistral Midstream Inc.'s
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Pembina Pipeline Corporation has entered into agreements to acquire the Vantage pipeline system (Vantage) and Mistral Midstream Inc.'s (Mistral) interest in the Saskatchewan Ethane Extraction Plant (SEEP) for total consideration of US$650 million, subject to traditional closing adjustments, ("the Transaction") from certain entities affiliated with Riverstone Holdings LLC (the "Seller").
Transaction Highlights
Vantage is a recently constructed, approximately 700 kilometre (km), 40,000 barrel per day (bpd), high vapour pressure pipeline that originates in Tioga, North Dakota and terminates near Empress, Alberta. Vantage provides long-term, fee-for-service cash flow and strategic access to the prolific and growing North Dakota Bakken play for future natural gas liquids (NGL) opportunities. Key Transaction highlights include:
