Posted on 30/04/09
Pembina Pipeline buys Talisman network
Pembina Pipeline Income Fund PIF.UN-T, an operator of oil and natural-gas pipelines in Western Canada, says it has bought a gas-gathering and processing network from Talisman Energy Inc. TLM-T for $300-million. The Cutbank Complex in west-central Alberta consists of three gas-processing plants, nine compressor stations and about 300 km of pipeline, the Calgary-based fund said in a statement. The all-cash transaction is expected to close in June. Pembina, which handles about 1.2 million barrels daily of conventional oil and bitumen from Alberta's oil sands, expects the transaction to add about $40-million a year to its net operating income.
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