PPL:CC - Pembina Pipeline sees adjusted EBITDA of C$3.73B - C$4.03B in 2024

2023-12-11 09:28:57 ET

Pembina Pipeline ( NYSE: PBA ) said Monday it expects 2024 adjusted EBITDA of C$3.725 billion to C$4.025 billion and has set a capital investment program of C$880 million for the year.

The capital investment program is expected to be fully funded with cash flow from operating activities, net of dividends, the company said.

Pembina said the program reflects about C$100 million of deferrals of capital expenditures from 2023 into 2024 due to project reprioritization and execution timing.

The company said about 40% of its 2024 frac spread exposure has been hedged, excluding Aux Sable. The weighted average price of its frac spread hedges, excluding transportation and processing costs, is about C$39.40 per barrel.

Current income tax expense in 2024 is forecasted to be C$295 million to C$345 million.

In addition to the 2024 capital investment program, the company said it is in development of additional growth projects that could increase the program by up to C$280 million.

Press Release .

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