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Pembina Pipeline's CEO Discusses Q2 2012 Results - Earnings Call Transcript

Stocks in this article: PBA

To learn more about these forward-looking statements and non-GAAP measures please see Pembina’s various financial reports available at pembina.com and on both SEDAR and EDGAR. Actual results could differ materially from the forward-looking statements we may express or imply today.

The second quarter and the first half of the year has been a very busy time. We closed our acquisition of Provident on April 2 and since then we have made a lot of progress on our integration activities. As you know, we are listed on New York Stock exchange and that made substantial progress on bringing our two teams together.

This is the first quarter we are reporting as a combined entity which also means that this is the first time, we’re presenting results that show a consolidated view of our business and includes those assets that are new to Pembina.

Admittedly we are faced with a challenging opening market conditions that impacts our results this quarter, but we maintained steady performance across all areas of our business while managing the integration work we needed to do.

I will give a high level overview of the results in a minute, but I will like to start off by talking a little more specifically about the progress we are making on integration. It's still early in the game for us. We have only owned these assets for just over four months. But so far the integration is going very well.

We are seeing real upside possibilities associated with these assets and we have retained a great group of people, people who have the knowledge and the experience to help us achieve Pembina's future goals.

I am very happy to say that as of mid July, we have moved all of the former Calgary Provident employees to our head office in Calgary which will now give us the chance to begin working even more closely as a single team, focused on common set of goals.

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