Painted Pony Pete Ltd PDPYF

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• The $125 million project was completed slightly ahead of schedule and approximately $5 million under budget. AltaGas and Painted Pony Energy Ltd. have entered into 20-year take-or-pay agreements in respect of Townsend 2A and the incremental field compression equipment, subject to the satisfaction of certain conditions contained in those agreements.
• AltaGas also said the 10,000 bbl-per-day North Pine NGL Separation Facility is tracking under budget and ahead of its previous schedule of the first quarter of 2018, with an online date now expected in early December 2017. This investment will be backstopped by long-term supply agreements with Painted Pony for a portion of the total capacity, and will include dedication of all of Painted Pony’s NGL produced at the Townsend and Blair Creek facilities. The remaining capacity is expected to be filled with NGL produced in the area.