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Pembina Corp. buys pipeline for Bakken

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Canada’s Pembina Pipeline Corp. said it would buy the Vantage pipeline system, gaining access to the prolific Bakken shale field in North Dakota.

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Vantage, a recently constructed pipeline system with a capacity of 40,000 barrels per day, originates in North Dakota and ends at Alberta.

Pembina is buying Vantage as well as Mistral Midstream Inc’s interest in the Saskatchewan ethane plant from Riverstone Holdings for $650 million. The plant, which will connect to the Vantage system, is expected to produce about 4,500 barrels of ethane per day.

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