Pembina Pipeline Corporation - PPL.t

Pembina Pipeline Corporation - PPL.t is using a strong record of profitable growth to expand beyond the core business of operating conventional crude oil and natural gas liquids feeder pipelines. The company now provides a full spectrum of midstream and marketing services, gas gathering and processing, as well as transportation support to Alberta’s oil sands industry.

On May 5, 2016 the company released Numbers

"Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its financial and operating results for the first quarter of 2016.

Financial Overview

($ millions, except where noted)		3 Months EndedMarch 31 (unaudited)
		2016	2015
Conventional Pipelines revenue volumes (mbpd)(1)(2)		670	633
Oil Sands & Heavy Oil contracted capacity (mbpd)(1)		880	880
Gas Services average revenue volumes (mboe/d) net to Pembina(2)(3)		113	113
Midstream Natural Gas Liquids ("NGL") sales volumes (mbpd)(1)		141	129
Total volume (mboe/d)		1,804	1,755
Revenue		1,017	1,154
Net revenue(4)		394	375
Operating margin(4)		315	284
Gross profit		237	228
Earnings		102	120
Earnings per common share – basic and diluted (dollars)		0.23	0.32
Adjusted EBITDA(4)		269	241
Cash flow from operating activities		271	120
Cash flow from operating activities per common share – basic (dollars)(4)		0.72	0.35
Adjusted cash flow from operating activities(4)		209	213
Adjusted cash flow from operating activities per common share – basic (dollars)(4)		0.56	0.63
Common share dividends declared		172	148
Preferred share dividends declared		14	10
Dividends per common share (dollars)		0.46	0.44
Capital expenditures		375	498

							3 Months Ended March 31(unaudited)
							2016		2015
($ millions)							NetRevenue(4)	OperatingMargin(4)	NetRevenue(4)	OperatingMargin(4)
Conventional Pipelines							175	128	154	98
Oil Sands & Heavy Oil							52	33	55	35
Gas Services							53	37	54	37
Midstream							114	114	113	113
Corporate								3	(1)	1
Total							394	315	375	284

(1)	mbpd is thousands of barrels per day.
(2)	Revenue volumes are equal to contracted plus interruptible volumes.
(3)	Average revenue volumes converted to mboe/d (thousands of barrels of oil equivalent per day) from million cubic feet per day ("MMcf/d") at 6:1 ratio.
(4)	Refer to "Non-GAAP Measures."

 Highlights

• Realized record revenue volumes for the second consecutive quarter; Conventional Pipelines also reached record volumes with an average of 670 mbpd;
• Safely placed over $740 million assets into service, including $226 million in the first quarter of 2016 and an estimated$515 million subsequent to quarter end relating to RFS II, Musreau III and the Resthaven Expansion (as defined below);
• Achieved Adjusted EBITDA of $269 million, 12 percent or $28 million higher than the first quarter of 2015;
• Cash flow from operating activities increased by 126 percent to $271 million ($0.72 per common share-basic) as compared to the first quarter of 2015;
• Closed a $566 million (including closing adjustments) acquisition of a 250 MMcf/d gas processing plant and associated midstream infrastructure from Paramount Resources subsequent to quarter end;
• Received regulatory and environmental approval for the 270 kilometre, 24 and 16 inch Fox Creek to Namao, Albertapipeline portion of Pembina's Phase III Expansion;
• Increased the monthly dividend by 4.9 percent from $0.1525 per common share per month (or $1.83 annually) to $0.16per common share per month (or $1.92 annually), effective for the dividend payable on May 13, 2016;
• Raised $765 million including $170 million through a preferred share issuance, $345 million through a common share issuance and, subsequent to quarter end, an additional $250 million through a preferred share issuance; and
• Increased Pembina's unsecured revolving credit facility from $2 billion to $2.5 billion.

http://canadastockjournal.blogspot.com/2016/05/pembina-pipeline-corporation-pplt.html