Pembina’s operating margin in the quarter was $304 mm (FCCe $315 mm), up 56% y/y as a result of increased contributions from the conventional pipelines and midstream business. Pembina will be commissioning a large portion of its secured projects in its 2016 capital program of $2.1 billion. The Company also plans to move toward bringing $5.3 billion of growth projects into service by the end of 2017, which should add $600 mm to $950 mm of incremental run-rate EBITDA. Pembina’s largest growth pro ....
