Pembina Pipeline Corp T.PPL.PR.C

Pembina Gas Infrastructure’s Acquisition

[Betteryear2]

July 02, 2024 07:00 AM Eastern Daylight Time

CALGARY, Alberta--(BUSINESS WIRE)--Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) is pleased to announce that Pembina Gas Infrastructure Inc. (“PGI”), a premier gas processing entity in Western Canada jointly owned by Pembina and KKR, has entered into a purchase and sale agreement with Whitecap Resources Inc. ("Whitecap") to acquire a 50 percent working interest in Whitecap’s 15-07 Kaybob Complex (the “Kaybob Complex”) as well as executed an agreement to support the future infrastructure development for Whitecap’s Lator growth area (the “Transaction”). Gross proceeds related to the Transaction are $420 million ($252 million, net to Pembina).

Pembina Pipeline Corporation Announces Pembina Gas Infrastructure’s Acquisition of Working Interests From Whitecap Resources and New Long-term Agreements | Business Wire