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CHARLESTON SOUTHERN 83, MIAMI (FL) 79Trump says he had a 'productive meeting' with Trudeau after two met for surprise dinner in FloridaRoss Barkley’s 85th-minute goal gave them victory in Germany after goals from John McGinn and Jhon Duran early in each half were cancelled out by Lois Openda and Christoph Baumgartner. That sent them up to third in the new league phase of the competition ahead of Wednesday’s games and with matches against Monaco and Celtic to come, Villa have an excellent chance of finishing in the top eight. Job done... in the end 😅 #RBLAVL #UCL pic.twitter.com/PRD1Hi1Q3A — Aston Villa (@AVFCOfficial) December 10, 2024 That would mean they would avoid a play-off round to make it through to the last 16 and Emery says that is the target. “Today was key. Juventus at home, we were thinking more to win but in the end we accepted the draw because it was important for a point to be more or less in the top 24,” he told Amazon Prime. “Today was a match we were thinking at the beginning was key to be a contender to be in the top eight with the last two matches to be played. “It is going to be difficult and we have to get some more points but we now have the possibility to achieve this option. “We are going to enjoy and try to get top eight but we have to be happy because we are in the top 24 and maybe even the top 16. “We weren’t contenders in the beginning to get there but now we have to accept it.” Leipzig, who are flying high near the top of the Bundesliga, are out after losing all six matches. They did pose a threat to Villa, who inflicted some of their own problems on themselves, notably a rare gaffe from goalkeeper Emiliano Martinez for Openda’s equaliser. But Emery was happy with his side’s performance. “I try to enjoy and always we want to improve and sometimes it is hard but today the team were performing well, playing seriously and I was enjoying it,” he added. “We tried to overcome the mistakes we made and we did. More or less we were playing consistently. One mistake and they score but then we played very well. “Champions League is very difficult and we have to expect that every team playing at home are feeling strong. We played with consistency and domination.”
Just hours before the PIAA Football Championships took flight at Cumberland Valley’s Chapman Field, the governing body on Pennsylvania sports tweaked one of its newest and controversial rules. The PIAA’s Competitive Balance rule, adopted in 2018, was first aimed at deterring successful football and basketball teams from adding too many transfers over a two-year sports cycle. All team sports now fall under the rule. • Sign up for PennLive’s daily high school sports newsletter Targeting teams that had success in the state playoffs and added a set number of transfers in that cycle would mean a promotion to a higher classification against schools with larger enrollments. Until Wednesday, teams gathering six or more points ... four points for qualifying for a state final, three points for a semifinal, two points for a quarterfinal, etc. ... were forced into a higher class. Teams will now need seven points for the rule to kick in after the PIAA Board approved the change on a third and final reading Wednesday. “The feeling on the board was they should be getting to a state championship game. We had found over the past six years, with six you could identify somebody that gets only to two semi-finals, never plays in a championship game, that would end up moving up,” said Dr. Robert Lombardi, PIAA Executive Director. “And then we found that you’d have somebody that could play in a championship game and not have others, and then not move up. So that caused a little bit of a rift, so that is going to now move to seven.” Lombardi and PIAA football tournament director Pat Gephart sat down with PennLive last Thursday to inquire about changes to the rule, the ongoing argument between public vs. private, scheduling sites for all state playoff brackets and more. Additional changes to the competitive balance are being considered, such as the number of transfers needed to initiate the rule or how/if transfers are counted under special circumstances. The full interview with Lombardi and Gephart is above. As for the overall success of the rule, the results are difficult to argue. Bishop McDevitt’s first season in 5A resulted in the Crusaders’ third overall title via Friday’s 34-31 overtime win vs. Roman Catholic. Bishop Guilfoyle emerged as 2A champion last Thursday in its first season in the class. Another Mid-Penn team, Steel-High, finished 10-3 after bumping up to 2A. The Rollers dropped a 25-14 PIAA first round game to Bedford. Elsewhere, longtime powers Southern Columbia (2A) and Aliquippa (4A) won appeals to remain in those classifications. Both the Tigers and Quips failed to make the postseason. Follow Eric Epler on X/Twitter — @threejacker Thanks for visiting PennLive. Quality local journalism has never been more important. We need your support. Not a subscriber yet? Please consider supporting our work. ©2024 Advance Local Media LLC. Visit pennlive.com . Distributed by Tribune Content Agency, LLC.
Senate Democrats want communications between Boris Epshteyn and potential Trump appointees disclosed
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Despite Mary Lou McDonald’s confidence around shaping a coalition without Fine Gael and Fianna Fail – the two parties that have dominated the landscape of Irish politics for a century – the pathway to government for Sinn Fein still appears challenging. With counting following Friday’s election still in the relatively early stages – after an exit poll that showed the main three parties effectively neck-and-neck – there is some way to go before the final picture emerges and the options for government formation crystalise. Taoiseach and Fine Gael leader, Simon Harris, has dismissed talk of a Sinn Fein surge and said he was “cautiously optimistic” about where his party will stand after all the votes are counted. Meanwhile, Ireland’s deputy premier and Fianna Fail leader, Micheal Martin, insisted his party has a “very clear route back to government” as he predicted seat gains. The counting process could last days because of Ireland’s complex system of proportional representation with a single transferable vote (PR-STV), where candidates are ranked by preference. The early indications have turned the focus to the tricky arithmetic of government formation, as the country’s several smaller parties and many independents potentially jockey for a place in government. Ms McDonald told reporters at the RDS count centre in Dublin that she would be “very, very actively pursuing” the potential to form a government with other parties on the left of the political spectrum. The smaller, left-leaning parties in Ireland include the Social Democrats, the Irish Labour Party, the Green Party and People Before Profit-Solidarity. Ms McDonald said her party had delivered an “incredible performance” in the election. “I think it’s fair to say that we have now confirmed that we have broken the political mould here in this state,” she said. “Two party politics is now gone. It’s consigned to the dustbin of history and that, in itself, is very significant.” She added: “I am looking to bring about a government of change, and I’m going to go and look at all formulations. “If you want my bottom line, the idea of Fianna Fail and Fine Gael for another five years, in our strong opinion, is not a good outcome for Irish society. “Obviously, I want to talk to other parties of the left and those that we share very significant policy objectives with. So I’m going to do that first and just hear their mind, hear their thinking. But be very clear, we will be very, very actively pursuing entrance into government.” In Friday night’s exit poll, Sinn Fein was predicted to take 21.1% of first-preference votes, narrowly ahead of outgoing coalition partners Fine Gael and Fianna Fail at 21% and 19.5% respectively. Prior to the election, Fianna Fail and Fine Gael both ruled out entering government with Sinn Fein. Fine Gael leader Mr Harris rejected suggestions Sinn Fein had broken new ground. He told reporters in his count centre in Greystones, Co Wicklow: “Certainly we haven’t seen a Sinn Fein surge or anything like it. “I mean, it looks likely, on the figures that we’ve seen now, fewer people, many fewer people would have voted Sinn Fein in this election than the last one. “In fact, I think they’re down by around 5% and actually the parties, particularly the two parties, the two larger parties in government, are likely to receive significant support from the electorate. So definitely, politics in Ireland has gotten much more fragmented.” He said it was too early to tell what the next government would look like. “I think anybody who makes any suggestion about who is going to be the largest party or the construct of the next government, they’re a braver person than I am,” he said. “Our electoral system dictates that there’ll be many, many transfers that will go on for hours, if not days, before we know the final computations at all. “But what I am very confident about is that my party will have a very significant role to play in the years ahead, and I’m cautiously optimistic and excited.” Fianna Fail’s Mr Martin told reporters at a count centre in Cork he was confident that the numbers exist to form a government with parties that shared his political viewpoint. Mr Martin said it “remains to be seen” whether he would return to the role of Taoiseach – a position he held between 2020 and 2022 – but he expressed confidence his party would outperform the exit poll prediction. “It’s a bit too early yet to call the exact type of government that will be formed or the composition of the next government,” he said. “But I think there are, there will be a sufficiency of seats, it seems to me, that aligns with the core principles that I articulated at the outset of this campaign and throughout the campaign, around the pro-enterprise economy, around a positively pro-European position, a government that will strongly push for home ownership and around parties that are transparently democratic in how they conduct their affairs.” Asked if it would be in a coalition with Fianna Fail, Fine Gael and the Social Democrats, he said that would be “racing a bit too far ahead”. The final result may dictate that if Fianna Fail and Fine Gael are to return to government, they may need more than one junior partner, or potentially the buy-in of several independent TDs. Mr Martin said it was unclear how quickly a government can be formed, as he predicted his party would gain new seats. “It will be challenging. This is not easy,” he added. The junior partner in the outgoing government – the Green Party – looks set for a bruising set of results. Green leader Roderic O’Gorman is in a fight to hold onto his seat, as are a number of party colleagues, including Media Minister Catherine Martin. “It’s clear the Green Party has not had a good day,” he said. The early counting also suggested potential trouble for Fianna Fail in Wicklow, where the party’s only candidate in the constituency, Health Minister Stephen Donnelly, is considered to have a battle ahead, with the risk of losing his seat. Meanwhile, there is significant focus on independent candidate Gerard Hutch who, on Saturday evening, was sitting in fourth place in the four-seat constituency of Dublin Central. Last spring, Mr Hutch was found not guilty by the non-jury Special Criminal Court of the murder of David Byrne, in one of the first deadly attacks of the Hutch-Kinahan gangland feud. Mr Byrne, 33, died after being shot six times at a crowded boxing weigh-in event at the Regency Hotel in February 2016. A Special Criminal Court judge described Mr Hutch, 61, as the patriarchal figurehead of the Hutch criminal organisation and said he had engaged in “serious criminal conduct”. The constituency will be closely watched as other hopefuls wait to see if transfers from eliminated candidates may eventually rule him out of contention. In the constituency of Louth, the much-criticised selection of John McGahon appeared not to have paid off for Fine Gael. The party’s campaign was beset by questioning over footage entering the public domain of the candidate engaged in a fight outside a pub in 2018. The Social Democrats have a strong chance of emerging as the largest of the smaller parties. The party’s leader, Holly Cairns, was already celebrating before a single vote was counted however, having announced the birth of her baby girl on polling day.PHILADELPHIA (AP) — The guy on the Philly sports talk radio station had something to say, and he started to vent about the perceived strained relationship between star quarterback Jalen Hurts and standout wide receiver A.J. Brown. Why weren’t these two Pro Bowl Eagles on the same page? Why had their personal and professional relationship changed even with Philadelphia enjoying tremendous success? It was football gossip usually ripe for a hot-take host or fed-up fan to stir up on the air — only in this instance, the temperature check came from inside the locker room. Normally respected team leader Brandon Graham, who is sidelined with a triceps injury, noted in a radio appearance that “ things have changed ” between Hurts and Brown in the wake of a stale passing game in last week’s win over Carolina. An apologetic Graham walked back his comments. Hurts and Brown both insisted their relationship was cool in front of media hordes more appropriate for the Super Bowl. As for the rest of the Eagles, they were ready to squash the so-called controversy. “We are moving on,” offensive lineman and Christmas song crooner Jordan Mailata said. “It is the Pittsburgh Steelers this week. Not the A.J. Brown and Jalen Show. It is the Pittsburgh Steelers. That’s it.” Oh yeah, the Steelers! Lost in the brouhaha ignited in a Philly sports bar is the fact that sitting — and winning — on the western side of Pennsylvania are the Steelers (10-3). Unlike most matchups in series history, this one Sunday at the Linc comes with the tantalizing appeal of a potential Super Bowl preview. The Steelers have won seven of eight, and the Eagles (11-2) have won nine straight and could clinch the NFC East with a win and a Washington loss or tie. It's the first time the teams — among the original eight NFL teams — will play each other when they both have a double-digit win total. Both teams are in strong position for a playoff run — the Eagles led by Saquon Barkley and his pursuit of Eric Dickerson's NFL season rushing record; Russell Wilson and the soft-schedule Steelers atop the AFC North in large part thanks to six wins against teams that currently have losing records. “I do like playing really good people, I think there's growth in it,” Steelers coach Mike Tomlin said. “You've got to get the job done. But man, I think there's significant growth in pitting your collective talents and skills versus big-time opponents and they're certainly that.” Will the drama out of Philly this week affect the Eagles? They certainly don't think so and neither do the oddsmakers — the Eagles are 5 1/2-point favorites, per BetMGM. “What I’ve noticed about this football team is they’re so locked in and determined to get better each day,” Eagles coach Nick Sirianni said. “We don’t really want anyone else talking to us about anything other than the Pittsburgh Steelers.” Good luck with that, Coach. Maybe playing the Steelers on Sunday at home can snap the Eagles out of their offensive malaise. Hurts threw three TD passes to Brown in a 35-13 win in 2022. Barkley leads the NFL in rushing with 1,623 yards, 216 yards ahead of Baltimore’s Derrick Henry. He is averaging 124.8 yards per game. At that pace, and with one more game to play than Dickerson had, he would become the top single-season rusher in NFL history. He needs 483 yards over the final four games to top Dickerson’s 40-year-old record. Barkley is on pace for 2,122 yards, which would put him just 17 yards beyond Dickerson’s 2,105 in 1984. Barkley doesn’t need much of a reminder from his 2020 performance when, while playing for the New York Giants, he ran into a Pittsburgh defense that seemed reminiscent of its famed Steel Curtain. The Steelers held Barkley to 6 yards on 15 carries. The Steelers will have to find a way forward against the NFL’s toughest defense without wide receiver George Pickens, who will miss his second straight game with a hamstring injury. Pittsburgh survived last week against Cleveland, with Mike Williams and Scotty Miller — afterthoughts of late — coming off the bench to make an impact. While Tomlin believes “the strength of the pack is the pack,” the reality is the Steelers don’t have anyone who can stretch the field like Pickens, who leads the team in receptions (55) and yards (850) by a wide margin. It’s a challenge, but considering the way Wilson has spread the ball around — eight players caught passes against the Browns — he won’t lack for options. “Everybody in the receiver room has a different skill set, different strengths,” Calvin Austin III said. “The coaching staff knows that and they know how to put us in position to be able to show that.” The cross-state trip to Philadelphia, where the Steelers haven’t won in nearly 60 years, is the start of an 11-day stretch in which Pittsburgh faces three teams likely bound for the playoffs. While Tomlin is leaning into the “nameless, gray faces” mantra he uses for every opponent, his players know facing the Eagles, Ravens and Chiefs in such a short period is a litmus test for what’s to come in January. “That’s why I’m in the league, period,” linebacker Patrick Queen said. “When you sign up to play football, you want to play at the highest level. ... I love to play the game the right way. I think these next few games is going to show that and it starts with the Eagles.” AP NFL: https://apnews.com/hub/nfl
CALGARY, Alberta--(BUSINESS WIRE)--Dec 12, 2024-- Pembina Pipeline Corporation ("Pembina" or the "Company") (TSX: PPL; NYSE: PBA) announced today its 2025 financial guidance and provided a business update. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20241212048876/en/ Highlights Business Update Pembina anticipates a record setting financial year in 2024 reflecting the positive impact of recent acquisitions, growing volumes in the WCSB, and a strong contribution from the marketing business. As expected, volumes in the conventional pipelines business have strengthened in the fourth quarter relative to the first three quarters of the year. In 2024, the Company meaningfully advanced its strategy through the full consolidation of Alliance Pipeline and Aux Sable (the "Alliance/Aux Sable Transaction"), and by reaching a positive final investment decision on the Cedar LNG Project. These two accomplishments highlight Pembina’s focus on strengthening the existing franchise, increasing exposure to resilient end-use markets, and accessing global market pricing for Canadian energy products. In addition, Pembina Gas Infrastructure ("PGI") announced transactions with Veren Inc. and Whitecap Resources Inc., creating opportunities with attractive economics that are expected to enhance asset utilization, capture future volumes, and benefit Pembina’s full value chain. Through these two transactions, we are realizing the vision set forth with the creation of PGI in 2022. Other accomplishments over the past year include the completion of the $430 million Phase VIII Peace Pipeline Expansion and the $90 million NEBC MPS Expansion, on time and under budget; sanctioning $210 million (net to Pembina) of new projects, including the Wapiti Expansion and K3 Cogeneration Facility; and entering into long-term agreements with Dow Chemical Canada to supply up to 50,000 barrels per day ("bpd") of ethane for their Path2Zero Project (the "Dow Supply Agreement"). Through its extensive asset base and integrated value chain, Pembina can provide a full suite of transportation and midstream services across multiple hydrocarbons – natural gas, crude oil, condensate, and NGL. This uniquely positions the Company to benefit from a robust, multi-year growth outlook for the WCSB driven by transformational developments that include the recent completion of the Trans Mountain Pipeline expansion, new West Coast liquefied natural gas ("LNG") and NGL export capacity, and the development of new petrochemical facilities creating significant demand for ethane and propane. Growing production and demand for services in the WCSB continues to provide opportunities to increase utilization on existing assets and pursue expansion opportunities. As attention turns to 2025, Pembina is focused on several key priorities including: Alliance Pipeline CER Toll Review The CER initiated a review of Alliance Pipeline’s tolls, which were previously approved by the CER. As such, the CER has ordered Alliance Pipeline to submit for approval a detailed toll application justifying why the current tolling methodology remains compliant with the Canadian Energy Regulator Act, or a new tolling methodology application. Likewise, the CER has ordered that the current tolls shall be deemed interim tolls until resolution of the above. Alliance Pipeline's tolls for the Canadian segment of the pipeline are approved by the CER, while its tolls for the United States segment are approved by the Federal Energy Regulatory Commission. Alliance Pipeline's Canadian long-term firm service tolls have remained level since they were approved by the CER in 2015, while its full path tolls to Chicago have declined by approximately 15 percent. In comparison, tolls on alternative systems have increased by approximately 30 percent. Likewise, Alliance Pipeline has operated at an industry leading reliability rate. Furthermore, Alliance Pipeline remains an ‘at-risk’ commercial model where returns and cost recovery are squarely driven by the customer demand for its service and Alliance Pipeline's ability to efficiently provide such service. By contrast, the competitive alternatives and the majority of CER regulated Group 1 natural gas pipelines' returns are not materially exposed to volume or cost recovery risk. Alliance Pipeline is working collaboratively with its stakeholders through the CER review process and will remain focused on delivering the highest standards of service that customers have come to expect. Pembina will work expeditiously throughout 2025 with shippers towards a negotiated solution, in accordance with all CER direction. Approximately 60 percent of the adjusted EBITDA contribution from Alliance Pipeline is generated from the Canadian portion of the pipeline. Pembina’s 2025 adjusted EBITDA guidance, discussed below, assumes the existing toll is in effect for the full year. Board of Directors Appointment Pembina is pleased to announce that Mr. Alister Cowan has been appointed to the board of directors effective December 3, 2024. Mr. Cowan has over 20 years of experience in the energy industry and has significant financial executive level experience at various public companies. In 2023, he was Executive Advisor of Suncor Energy Inc. ("Suncor") and was previously Chief Financial Officer of Suncor from 2014 to 2023 where he oversaw financial operations, accounting, investor relations, treasury, tax, internal audit, and enterprise risk management. Prior to joining Suncor, Alister was Chief Financial Officer of Husky Energy Inc. from 2008 to 2014. Before that, he was Executive Vice President and Chief Financial Officer and Chief Compliance Officer of British Columbia Hydro and Power Authority. Mr. Cowan is a non-executive director of The Chemours Company and of Smiths Group PLC. He has a Bachelor of Arts in Accounting and Finance from Heriot-Watt University and is a member of the Institute of Chartered Accountants of Scotland. Mr. Cowan has also been appointed to the audit committee. "The board of directors is excited to welcome Alister, and we look forward to working with him. Alister is a seasoned financial executive with extensive experience in Canadian energy. We are sure to benefit from his contribution as we work together to ensure Pembina's continued success during a transformational period of growth in the Canadian oil and gas industry," said Henry Sykes, Chair of the Board. 2025 Guidance Pembina is anticipating 2025 adjusted EBITDA of $4.2 billion to $4.5 billion. Relative to the midpoint of Pembina’s adjusted EBITDA guidance range for 2024, the major factors driving the outlook for 2025 adjusted EBITDA include: Pembina has hedged approximately 32 percent of its 2025 frac spread exposure. For 2025, the weighted average price of Pembina's frac spread hedges, excluding transportation and processing costs, is approximately C$36 per barrel, which compares to the prevailing 2025 forward price at the end of November 2024 of approximately C$37 per barrel. The mid-point of the 2025 adjusted EBITDA guidance range includes a forecasted contribution from the Marketing & New Ventures segment of $550 million. Excluding the contribution from the Marketing & New Ventures segment, the midpoint of the 2025 guidance range reflects an approximately 5.5 percent increase in fee-based adjusted EBITDA, relative to the forecast for 2024. Further, Pembina remains on-track to achieve four to six percent compound annual growth of fee-based adjusted EBITDA per share from 2023-2026. The lower and upper ends of the guidance range are framed primarily as a function of (1) commodity prices and the resulting contribution from the marketing business; (2) interruptible volumes on key systems; and (3) the U.S./Canadian dollar exchange rate. Current income tax expense in 2025 is anticipated to be $415 million to $470 million as Pembina will continue to benefit from the availability of tax pools from assets recently placed into service. Pembina's 2025 adjusted EBITDA may be directly impacted by market-based prices as follows: 2025 Capital Investment Pembina's 2025 capital program is expected to be allocated as follows: Pipelines Division capital expenditures primarily relate to sustaining capital, a terminal expansion within the conventional pipeline system, development spending on potential future projects, including the Fox Creek-to-Namao Peace Pipeline Expansion, and investments in smaller growth projects, including various laterals and terminals. Capital expenditures in the Facilities Division primarily relate to construction of the RFS IV Expansion, smaller growth projects, and sustaining capital spending. Capital expenditures within the Marketing and New Ventures Division and the Corporate segment are primarily targeted at information technology enhancements to further the Company's continuous improvement aspirations. Contributions to Equity Accounted Investees includes approximately $200 million of contributions to Cedar LNG to fund the construction of the Cedar LNG Project, and contributions to PGI to fund development of the Wapiti Expansion, K3 Cogeneration Facility, as well as development activities related to the previously announced agreements with Veren Inc. and Whitecap Resources Inc. The Company's 2025 capital program includes: In addition to the 2025 capital investment program detailed above, Pembina is in development of potential additional projects that, if sanctioned, would increase the 2025 capital program by up to $200 million. These projects primarily include pipeline and terminal upgrades in support of volume growth in NEBC, the Fox Creek-to-Namao Peace Pipeline Expansion, investments related to the Dow Supply Agreement, including the addition of a de-ethanizer tower at RFS III within the Redwater Complex, and optimization of the Prince Rupert Terminal to allow for the use of larger vessels, which would reduce per unit costs. Capital Allocation Pembina continues to execute its strategy within a fully funded model and consistent with its financial guardrails. Within the 2025 adjusted EBITDA guidance range, Pembina expects to generate positive free cash flow with all 2025 capital investment program scenarios being fully funded by cash flow from operating activities, net of dividends. Under prevailing market and economic conditions, Pembina expects to prioritize the use of excess free cash flow to debt repayment in 2025. As has been our approach since 2021, Pembina will continue to evaluate the merits of debt repayment relative to share repurchases while considering expected future funding requirements along with prevailing market conditions and the risk-adjusted returns of the associated alternatives. Pembina expects to exit 2025 with a proportionately consolidated debt-to-adjusted EBITDA ratio of 3.4 to 3.7 times. Excluding the debt related to the construction of the Cedar LNG project this ratio would be 3.2 to 3.5 times. About Pembina Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for 70 years. Pembina owns an integrated network of hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit www.pembina.com . Purpose of Pembina: We deliver extraordinary energy solutions so the world can thrive. Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division. Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit www.pembina.com . Forward-Looking Information and Statements This news release contains certain forward-looking information and statements (collectively, "forward-looking statements"), including forward-looking statements within the meaning of the "safe harbor" provisions of applicable securities legislation, that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as "continue", "anticipate", "schedule", "will", "expects", "estimate", "potential", "planned", "future", "outlook", "strategy", "project", "trend", "commit", "maintain", "focus", "ongoing", "believe" and similar expressions suggesting future events or future performance. In particular, this news release contains forward-looking statements, including certain financial outlooks, pertaining to, without limitation, the following: Pembina's anticipated 2025 adjusted EBITDA, 2025 capital investment program costs, 2025 year-end proportionately consolidated debt-to-adjusted EBITDA ratio and current income tax expenses in 2025; Pembina's capital allocation plans, including with respect to debt repayment and share repurchases; expected cash flow from operating activities in 2025 and the uses thereof; 2024 year-end financial results, including the expectation that 2024 will be a record setting financial year; expectations with respect to the impacts of the Dow Supply Agreement and the transactions with Veren Inc. and Whitecap Resources Inc., as well as future actions taken in relation thereto; future pipeline, processing, fractionation and storage facility and system operations and throughput levels; Pembina's corporate strategy and the development and expected timing of new business initiatives and growth opportunities, including the anticipated timing and impacts thereof; expectations about industry activities and development opportunities, as well as the anticipated benefits and timing thereof; expectations about the demand for services, including expectations in respect of increased utilization across Pembina's assets, future tolls and volumes; planning, construction, capital expenditure and cost estimates, schedules, locations, regulatory and environmental applications and approvals, expected capacity, incremental volumes, power output, project completion and in-service dates, rights, activities and operations with respect to planned construction of, or expansions on, pipelines systems, gas services facilities, processing and fractionation facilities, terminalling, storage and hub facilities and other facilities or infrastructure; the development and anticipated benefits of Pembina's new projects and developments, including the K3 Cogeneration Facility, the Cedar LNG Project, the Wapiti Expansion, the Taylor to Gordondale Project, Fox Creek-to-Namao Peace Pipeline Expansion and the RFS IV Expansion, including the completion and timing thereof; expectations regarding CER's review of Alliance Pipeline's tolls, including the timing and outcome thereof and steps taken in connection therewith; the impact of current and future market conditions on Pembina; Pembina's hedging strategy and expected results therefrom; Pembina's capital structure, including future actions that may be taken with respect thereto and expectations regarding future uses of cash flows and uses thereof, repayments of existing debt, new borrowings and securities issuances; and Pembina's commitment to, and ability to maintain, its financial guardrails. The forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news release regarding, among other things: oil and gas industry exploration and development activity levels and the geographic region of such activity; that favourable market conditions exist, and that Pembina has available capital for share repurchases, repayment of debt and funding its capital expenditures; the success of Pembina's operations; prevailing commodity prices, interest rates, carbon prices, tax rates and exchange rates; the ability of Pembina to maintain current credit ratings; the availability of capital to fund future capital requirements relating to existing assets and projects; future operating costs; geotechnical and integrity costs; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; prevailing regulatory, tax and environmental laws and regulations; maintenance of operating margins; and certain other assumptions in respect of Pembina's forward-looking statements detailed in Pembina's Annual Information Form for the year ended December 31, 2023 (the "AIF") and Management's Discussion and Analysis for the year ended December 31, 2023 (the "Annual MD&A"), which were each filed on SEDAR+ on February 22, 2024, as well as in Pembina's Management's Discussion and Analysis dated November 5, 2024 for the three and nine months ended September 30, 2024 (the "Interim MD&A") and from time to time in Pembina's public disclosure documents available at www.sedarplus.ca , www.sec.gov and through Pembina's website at www.pembina.com . Although Pembina believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties that could cause actual events or results to differ materially, including, but not limited to: the regulatory environment and decisions and Indigenous and landowner consultation requirements; the impact of competitive entities and pricing; reliance on third parties to successfully operate and maintain certain assets; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties to agreements with Pembina or one or more of its affiliates; actions taken by governmental or regulatory authorities and changes in legislation (including uncertainty with respect to the interpretation of the recently enacted Bill C-59 and related amendments to the Competition Act (Canada)); the ability of Pembina to acquire or develop the necessary infrastructure in respect of future development projects; fluctuations in operating results; adverse general economic and market conditions in Canada, North America and worldwide; the ability to access various sources of debt and equity capital on acceptable terms; changes in credit ratings; counterparty credit risk; and certain other risks and uncertainties detailed in the AIF, Annual MD&A, Interim MD&A and from time to time in Pembina's public disclosure documents available at www.sedarplus.ca , www.sec.gov and through Pembina's website at www.pembina.com . This list of risk factors should not be construed as exhaustive. Readers are cautioned that events or circumstances could cause actual results to differ materially from those predicted, forecasted or projected by forward-looking statements contained herein. The forward-looking statements contained in this news release speak only as of the date hereof. Pembina does not undertake any obligation to publicly update or revise any forward-looking statements or information contained herein, except as required by applicable laws. Management approved the 2025 adjusted EBITDA, 2025 capital investment program costs, 2025 proportionately consolidated debt-to-adjusted EBITDA and 2025 income tax expense guidance contained herein as of the date of this news release. The purpose of these financial outlooks is to assist readers in understanding Pembina's expected and targeted financial results, and this information may not be appropriate for other purposes. The forward-looking statements contained in this news release are expressly qualified by this cautionary statement. Non-GAAP and Other Financial Measures Throughout this news release, Pembina has disclosed certain financial measures and ratios that are not specified, defined or determined in accordance with GAAP and which are not disclosed in Pembina's financial statements. Non-GAAP financial measures either exclude an amount that is included in, or include an amount that is excluded from, the composition of the most directly comparable financial measure specified, defined and determined in accordance with GAAP. Non-GAAP ratios are financial measures that are in the form of a ratio, fraction, percentage or similar representation that has a non-GAAP financial measure as one or more of its components. These non-GAAP financial measures and ratios, together with financial measures and ratios specified, defined and determined in accordance with GAAP, are used by management to evaluate the performance and cash flows of Pembina and its businesses and to provide additional useful information respecting Pembina's financial performance and cash flows to investors and analysts. In this news release, Pembina has disclosed adjusted EBITDA, a non-GAAP financial measure, and proportionately consolidated debt-to-adjusted EBITDA, a non-GAAP ratio, which that do not have any standardized meaning under International Financial Reporting Standards ("IFRS") and may not be comparable to similar financial measures or ratios disclosed by other issuers. Such financial measures and ratios should not, therefore, be considered in isolation or as a substitute for, or superior to, measures and ratios of Pembina's financial performance or cash flows specified, defined or determined in accordance with IFRS, including revenue or earnings. Except as otherwise described herein, these non-GAAP financial measures and non-GAAP ratios are calculated on a consistent basis from period to period. Specific reconciling items may only be relevant in certain periods. Below is a description of each non-GAAP financial measure and non-GAAP ratio disclosed in this news release, together with, as applicable, disclosure of the most directly comparable financial measure that is determined in accordance with GAAP to which each non-GAAP financial measure relates and a quantitative reconciliation of each non-GAAP financial measure to such directly comparable GAAP financial measure. Additional information relating to such non-GAAP financial measures and non-GAAP ratios, including disclosure of the composition of each non-GAAP financial measure and non-GAAP ratio, an explanation of how each non-GAAP financial measure and non-GAAP ratio provides useful information to investors and the additional purposes, if any, for which management uses each non-GAAP financial measure; an explanation of the reason for any change in the label or composition of each non-GAAP financial measure and non-GAAP ratio from what was previously disclosed; and a description of any significant difference between forward-looking non-GAAP financial measures and the equivalent historical non-GAAP financial measures, is contained in the "Non-GAAP & Other Financial Measures" section of the Annual MD&A, which information is incorporated by reference in this news release. The Annual MD&A is available on SEDAR+ at www.sedarplus.ca , EDGAR at www.sec.gov and Pembina's website at www.pembina.com . Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization Adjusted EBITDA is a non-GAAP financial measure and is calculated as earnings before net finance costs, income taxes, depreciation and amortization (included in operations and general and administrative expense) and unrealized gains or losses on commodity-related derivative financial instruments. The exclusion of unrealized gains or losses on commodity-related derivative financial instruments eliminates the non-cash impact of such gains or losses. Adjusted EBITDA also includes adjustments to earnings for losses (gains) on disposal of assets, transaction costs incurred in respect of acquisitions, dispositions and restructuring, impairment charges or reversals in respect of goodwill, intangible assets, investments in equity accounted investees and property, plant and equipment, certain non-cash provisions and other amounts not reflective of ongoing operations. In addition, Pembina's proportionate share of results from investments in equity accounted investees with a preferred interest is presented in adjusted EBITDA as a 50 percent common interest . These additional adjustments are made to exclude various non-cash and other items that are not reflective of ongoing operations. The equivalent historical non-GAAP financial measure to 2025 adjusted EBITDA guidance is adjusted EBITDA for the year ended December 31, 2023. Adjusted EBITDA from Equity Accounted Investees In accordance with IFRS, Pembina's jointly controlled investments are accounted for using equity accounting. Under equity accounting, the assets and liabilities of the investment are presented net in a single line item in the Consolidated Statement of Financial Position, "Investments in Equity Accounted Investees". Net earnings from investments in equity accounted investees are recognized in a single line item in the Consolidated Statement of Earnings and Comprehensive Income "Share of Profit from Equity Accounted Investees". The adjustments made to earnings, in adjusted EBITDA above, are also made to share of profit from investments in equity accounted investees. Cash contributions and distributions from investments in equity accounted investees represent Pembina's share paid and received in the period to and from the investments in equity accounted investees. To assist in understanding and evaluating the performance of these investments, Pembina is supplementing the IFRS disclosure with non-GAAP proportionate consolidation of Pembina's interest in the investments in equity accounted investees. Pembina's proportionate interest in equity accounted investees has been included in adjusted EBITDA. Proportionately Consolidated Debt-to-Adjusted EBITDA Proportionately Consolidated Debt-to-Adjusted EBITDA is a non-GAAP ratio that management believes is useful to investors and other users of Pembina’s financial information in the evaluation of the Company’s debt levels and creditworthiness. View source version on businesswire.com : https://www.businesswire.com/news/home/20241212048876/en/ CONTACT: For further information:Pembina Investor Relations (403) 231-3156 1-855-880-7404 investor-relations@pembina.com www.pembina.com KEYWORD: NORTH AMERICA CANADA INDUSTRY KEYWORD: OIL/GAS ENERGY LOGISTICS/SUPPLY CHAIN MANAGEMENT TRANSPORT UTILITIES SOURCE: Pembina Pipeline Corporation Copyright Business Wire 2024. PUB: 12/12/2024 05:05 PM/DISC: 12/12/2024 05:06 PM http://www.businesswire.com/news/home/20241212048876/en
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Zoe Ball's son Woody Cook says he is looking forward to spending more time with her after she announced during the week that she would be quitting the BBC Radio 2 Breakfast Show at the end of December. Woody, who is the son of Zoe and Fatboy Slim, Norman Cook, has shared a loving post about his mum on social media. Woody, 23, who appeared on reality TV show The Circle, posted unseen family photos which showed both his parents with him and his 14-year-old sister Nelly, who is rarely seen in public posts. Woody, wrote on Instagram: "Well done Mama on a fabulous stint on Radio 2! Here's to more time at home! Excuse the whole family pic can't find enough crackers with @zoetheball. YOU ARE AMAZING. 4AM is a crazy time to get up!" Zoe, 53, was among the first to reply to her son's post. writing: "Love you Bear. beyond xxx." She announced her departure from the Breakfast Show earlier this week, and also confirmed that Scott Mills would be replacing her in the New Year. After returning briefly to radio in August, Zoe took another extended break in September , when it is believed she took stock of her life and made her decision to quit her show. Zoe succeeded Chris Evans in 2019 and her final broadcast is scheduled for December 20. Updating listeners on her next steps , she said that she wasn't "going to be a stranger" and is staying with her "Radio 2 crew", though didn't share any more details. Zoe said: "While I'm stepping away from the Breakfast Show, I'm not disappearing entirely - I'll still be part of the Radio 2 family, with more news in the New Year." Citing the reason for her departure, Zoe said she plans to "focus on family" and be "a mum in the mornings" again, adding she "can't wait to tune in on the school run". Stay up to date about London's hottest events, latest restaurant openings, and best deals with our Going Out Out newsletter. Sign up HERE!How to save money on new car models this holiday