Pembina Pipeline acquires midstream assets from Veren Inc. for $400M in Alberta's Montney region.

Pembina Pipeline Corporation will acquire midstream assets from Veren Inc. for about $400 million, enhancing its operations in Alberta's Montney region. The deal includes four oil battery sites with significant gas and liquids handling capacities. Veren will maintain operations and enter a 15-year capacity agreement. Expected to close in Q4 2024, the acquisition could add $50 million in annual adjusted EBITDA, reducing Veren's debt by $1.3 billion.

September 09, 2024
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