Pembina Pipeline Corporation (NYSE:PBA) Q3 2023 Earnings Call Transcript

Linda Ezergailis: And just as a follow-up, in the past, Pembina has mused about potentially entering a new geography at scale, recognizing that some basin diversification might have some strategic value, but balancing that with your incumbency in Western Canada, how do you think about the long-term possibility of that? And then in terms of like strategic imperative of pivoting to an energy transition, do you see the possibility to maybe leapfrog or accelerate that transition through a strategic acquisition that, of course, would fit your guardrails?

Scott Burrows: I’d say no to both of those. I think we updated our strategy last year. And through that, we continue to be here over the next little while last year, this year, and into next year, very focused on the WCSB. We continue to see volume growth. We are extremely optimistic on the Montney and what that means. And especially as we start to see the basin get rid of some egress constraints through LNG Phase 1 and TMX and potentially the Dow Chemicals projects, so we are very focused on the WCSB right now. And that’s where we’re spending our time and effort. As it relates to energy transition, I think we’ve been pretty clear that we will look at projects that complement our existing asset base or help our customers decarbonize.

So we are not out looking at any sort of major acquisition. In fact, we’re not looking at any acquisitions at all in the energy transition space. We like the couple of organic projects that we have, and we are going to continue to pursue those.

Operator: And there are no further questions at this time. I will turn the call back over to Scott Burrows, CEO, for closing remarks.

Scott Burrows: Well, thanks, everyone. I appreciate you taking the time to listen to our call today. Thanks to all of our employees who contributed to a fantastic quarter. I’ll just leave it with one note that we — the one thing that we are really positive about the quarter is the resilience of the business and the contribution from all of our divisions. Not only did we have a strong marketing quarter, but we also had an extremely strong quarter in our Pipelines and our Facilities division. And I think it just speaks to the strength of our business overall. And so we’re pretty excited for the remainder of this year and 2024. So thanks, everyone.

Operator: So ladies and gentlemen, this concludes your conference call for today. We thank you for joining, and you may now disconnect your lines. Thank you.