CALGARY, Alberta, May 29, 2018 /PRNewswire/ -- Pembina
Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE:
PBA) announced an update to its 2018 guidance range and will host
its annual Investor Day.
Pembina announced today that based on strong year-to-date
results and the outlook for the remainder of the year, the Company
has updated its 2018 Adjusted EBITDA guidance range to $2,650 to $2,750
million.
"We are seeing strong customer demand for our services, leading
to increased utilization in the Pipelines and Facilities Divisions,
and rising commodity prices are driving solid performance in our
Marketing business," said Mick
Dilger, Pembina's President and Chief Executive Officer.
"Accordingly, we are raising the bottom end of our guidance range
by $100 million."
Pembina's annual Investor Day will be held today at the Fairmont
Royal York Hotel in Toronto,
Ontario, with a corporate presentation scheduled for
8:30 a.m. ET. The presentation
will feature Pembina's executive team providing an update on
corporate strategy, a business overview including project updates,
and a review of Pembina's financial position.
A live webcast of the conference call can be accessed on
Pembina's website at pembina.com under Investor Centre,
Presentation & Events, or by entering:
https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=http%3A%2F%2Fwww.pembina.com%2Finvestor-centre%2Fpresentations-and-events%2F&eventid=1586882&sessionid=1&key=175EA88F028C9CD48628882A2542CE5D®Tag=&sourcepage=register
in your web browser. After the presentation a copy of the
presentation and an archive of the webcast will be available on the
website.
About Pembina
Calgary-based Pembina Pipeline
Corporation is a leading transportation and midstream service
provider that has been serving North
America's energy industry for over 60 years. Pembina owns an
integrated system of pipelines that transport various hydrocarbon
liquids and natural gas products produced primarily in western
Canada. The Company also owns gas
gathering and processing facilities and an oil and natural gas
liquids infrastructure and logistics business. Pembina's integrated
assets and commercial operations along the majority of the
hydrocarbon value chain allow it to offer a full spectrum of
midstream and marketing services to the energy sector. Pembina is
committed to identifying additional opportunities to connect
hydrocarbon production to new demand locations through the
development of infrastructure that would extend Pembina's service
offering even further along the hydrocarbon value chain. These new
developments will contribute to ensuring that hydrocarbons produced
in the Western Canada Sedimentary Basin and the other basins where
Pembina operates can reach the highest value markets throughout the
world.
Pembina strives to provide sustainable, industry-leading total
returns for our investors; reliable and value-added services for
our customers; a net positive impact to communities; and a safe,
respectful, collaborative and fair work culture for our
employees.
Pembina's strategy is to:
- Preserve value by providing safe, environmentally
conscious, cost-effective and reliable services;
- Diversify by providing integrated solutions which
enhance profitability and customer service;
- Implement Growth by pursuing projects or assets that are
expected to generate cash flow per share accretion and capture
long-life, economic hydrocarbon reserves; and
- Secure Global Markets by understanding what the world
needs, where they need it, and delivering it.
Pembina is structured into three Divisions: Pipelines Division,
Facilities Division and Marketing & New Ventures Division.
Pembina's common shares trade on the Toronto and New
York stock exchanges under PPL and PBA, respectively. For
more information, visit www.pembina.com.
Forward-Looking Information and Statements
This news release contains certain forward-looking
information and statements (collectively, "forward-looking
statements") that are based on Pembina's current expectations,
estimates, projections and assumptions in light of its experience
and its perception of historical trends. In this news release, such
forward-looking information and statements can be identified by
terminology such as "guidance", "outlook", "expects", "will", and
similar expressions suggesting future events or future
performance.
In particular, this news release contains forward-looking
statements, including certain financial outlooks, pertaining to,
without limitation, the following: anticipated future adjusted
EBITDA; expectations around continuing producer activity and
development; the ongoing utilization and expansions of and
additions to Pembina's business and asset base, growth and growth
potential. These forward-looking statements are being made
by Pembina based on certain assumptions that Pembina has made in
respect thereof as at the date of this news release, regarding,
among other things: oil and gas industry exploration and
development activity levels; the success of Pembina's operations
and growth projects; prevailing commodity prices, margins, volumes
and exchange rates; that Pembina's future results of operations
will be consistent with past performance and management
expectations in relation thereto; the continued availability of
capital at attractive prices to fund future capital requirements
relating to existing assets and projects, including but not limited
to future capital expenditures relating to expansion, upgrades and
maintenance shutdowns; that any third party projects relating to
Pembina's growth projects will be sanctioned and completed as
expected; that any required commercial agreements can be reached;
that all required regulatory and environmental approvals can be
obtained on the necessary terms in a timely manner; that
counterparties to material agreements will continue to perform in a
timely manner; that there are no unforeseen events preventing the
performance of contracts; that there are no unforeseen material
construction, integrity or other costs related to current growth
projects or current operations; and prevailing interest and tax
rates.
Although Pembina believes the expectations and material
factors and assumptions reflected in these forward-looking
statements are reasonable as of the date hereof, there can be no
assurance that these expectations, factors and assumptions will
prove to be correct. Readers are cautioned that events or
circumstances could cause results to differ materially from those
predicted, forecasted or projected. By their nature,
forward-looking statements involve numerous assumptions, known and
unknown risks and uncertainties that contribute to the possibility
that the predictions, forecasts, projections and other
forward-looking statements will not occur, which may cause actual
performance and financial results in future periods to differ
materially from any projections of future performance or results
expressed or implied by such forward-looking statements and
information. These known and unknown risks and uncertainties,
include, but are not limited to: the ability of Pembina to raise
sufficient capital (or to raise sufficient capital on favourable
terms) to fund future expansions and growth projects and satisfy
future commitments; failure to negotiate and conclude any required
commercial agreements or failure to obtain project sanctioning;
increased construction costs, or construction delays, on Pembina's
expansion and growth projects; labour and material shortages;
non-performance of agreements in accordance with their terms;
the impact of competitive entities and pricing; reliance on key
industry partners, alliances and agreements; the strength and
operations of the oil and natural gas production industry and
related commodity prices; the continuation or completion of
third-party projects; actions by governmental or regulatory
authorities including changes in tax laws and treatment, changes in
royalty rates or increased environmental regulation; adverse
general economic and market conditions in Canada, North
America and elsewhere; construction delays; labour and
material shortages; and certain other risks detailed from time to
time in Pembina's public disclosure documents including, among
other things, those detailed under the heading "Risk Factors" in
Pembina's management's discussion and analysis and annual
information form for the year ended December
31, 2017, which can be found at www.sedar.com.
The forward-looking statements are expressly qualified by the
above statements, and speak only as of the date of this document.
Pembina does not undertake any obligation to publicly update or
revise any forward-looking statements or information contained
herein, except as required by applicable laws. The forward-looking
statements contained in this document are expressly qualified by
this cautionary statement. Readers are cautioned that management of
Pembina approved the financial outlook contained herein as of the
date of this press release. The purpose of the financial outlook
contained herein is to give the reader an indication of the value
to Pembina of planned capital projects and ongoing operations.
Readers should be aware that the information contained in the
financial outlook contained herein may not be appropriate for other
purposes.
Non-GAAP Measures
The intent of Non-GAAP measures is to provide additional
useful information respecting Pembina's financial and operational
performance to investors and analysts and the measures do not have
any standardized meaning under IFRS. The measures should not
be considered in isolation or used in substitute for measures of
performance prepared in accordance with IFRS. Since Non-GAAP
financial measures are unlikely to be comparable to similar
measures presented by other companies, securities regulations
require that Non-GAAP financial measures are clearly defined,
qualified and reconciled to their nearest GAAP measure.
In this news release, Pembina has used the term adjusted
earnings before interest, taxes, depreciation and amortization
(Adjusted EBITDA), which does not have any standardized meaning
under IFRS ("Non-GAAP Measures"). Readers are encouraged to refer
to Pembina's management's discussion and analysis for the period
ended March 31, 2018, which is
available online at www.sedar.com, www.sec.gov and through
Pembina's website at www.pembina.com for Pembina's
Non-GAAP definitions, quantifications and
reconciliations.
For further information: Investor Relations, Scott Arnold, (403) 231-3156, 1-855-880-7404,
e-mail: investor-relations@pembina.com, www.pembina.com