Pembina Gas Infrastructure signs $400M deal to buy midstream assets from Veren [Financial Post (Toronto, Ontario, Canada)]
Veren Inc. Common shares (VRN)
Company Research
Source: Financial Post
CALGARY — Pembina Gas Infrastructure Inc. has signed a deal to buy a group of infrastructure assets from Veren Inc. for $400 million. Under the agreement, PGI — a Western Canadian gas processing company jointly owned by Pembina Pipeline Corp. and private equity firm KKR — will acquire four oil batteries in the Gold Creek and Karr areas of the Montney, a fossil-fuel-producing region of northwest Alberta. The batteries include natural gas handling capacity of 320 million cubic feet per day and liquids handling capacity of 53,000 barrels per day. Natural gas from the batteries is processed at PGI's Patterson Creek Gas Plant and both the batteries and the Patterson Creek Gas Plant are connected to Pembina's Peace Pipeline system. Veren, formerly Crescent Point Energy Corp., will retain operatorship of the acquired assets. The deal will also see Veren acquire full operatorship of four oil battery sites which are currently operated by PGI. The deal will also see PGI fund up to $3
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VRN
News
- Veren Inc. (NYSE: VRN) had its price target lowered by analysts at Royal Bank of Canada from $12.00 to $10.00. They now have an "outperform" rating on the stock.MarketBeat
- Veren stock drops after lowering 2024 production goals [Wealth Professional (Canada)]Wealth Professional
- Veren reports $277.2-million third-quarter profit, trims 2024 production guidance [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Veren Announces Q3 2024 Results & Updated Outlook [Globe and Mail, The (Toronto, Canada)]Globe and Mail, The
- Veren Announces Q3 2024 Results & Updated OutlookPR Newswire
VRN
Earnings
- 10/31/24 - Beat
VRN
Sec Filings
- 11/13/24 - Form SC
- 10/31/24 - Form 6-K
- 10/31/24 - Form 6-K
- VRN's page on the SEC website