Western Canada-focused Pembina Pipeline Corp. painted a rosy outlook in its first quarter earnings report for a Canadian industry-wide recovery amid improving commodity prices, with volumes from the Montney Shale and the Duvernay formation expected to grow.

Pembina facilities

“Over the past few quarters, across both the pipelines and facilities divisions, we have seen steady increases in physical volumes, which reached pre-pandemic peak levels in April 2021,” Pembina said in its quarterly results.

The company said it had an optimistic view on Western Canadian Sedimentary Basin (WCSB) activity levels in light of improved commodity prices as well as the expected post-pandemic recovery.

“In particular, our business development activities are being informed by a promising outlook for volume...