Keyera

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  2. Companies listed on the Toronto Stock Exchange
  3. Oil pipeline companies
  4. Oil companies of Canada
  5. Natural gas companies of Canada
  6. Natural gas pipeline companies
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  8. Companies established in 1998
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Keyera Corp.
Type Public
Traded as TSX: key
Industry Petroleum industry
Pipeline transport Storage
Founded 1998
Headquarters Calgary, Canada
Products ethane, butane, natural gas, sulfur
Revenue C$1.942 billion 2010Increase25.7%[1]
Net income decreaseC$125 million[1]
Total assets C$1.89 billion (March 2011)
Total equity C$689.5 million (March 2011)
Employees 598 (March 2011)
Divisions 7[2]
Website www.keyera.com

Keyera ("KEYeRa") is a Canadian midstream oil and gas corporation that until December 2010 was an income fund. It is one of Canada's biggest natural gas midstream businesses.[3] The company processes, stores and transports natural gas and crude oil from parts of Western Canada to terminal locations as far south as Mont Belvieu, Texas.[4] Processed products which include sulfur and natural gas liquids are marketed and sold at several major hubs in Canada and the USA (main hub is in Edmonton, Alberta). Many of the processing plants are located near the western portion of the Western Canadian Sedimentary Basin because the company expects that region to be a key source of future natural gas production.[5] In 2010 the gathering and processing business unit accounted for 46% of net revenue (gross income) ahead of NGL Marketing (30%) and NGL Facilities (24%).[1]

History

The company was founded in 1998. In 2010 it purchased one gas plant outright as well as minority interests in two others the largest of which was Edson (but because it acquired only 22% of Edson its 100% interest in Simonette (which processes half as much total throughput than Edson) makes the contribution from that facility greater).

November 10, 2010: Initiated the purchase of the Simonette gas plant (80×10^6 cu ft/d (2,300,000 m3/d)) in Alberta in a deal that included 2/3's of a pipeline, 50% of a compressor station, the 37 km long Findley pipeline and 30.4% of the 72 km long Lynx pipeline. Until the deal for the Simonette gas plant closed December 14, Keyera owned 37.5% of the plant an interest it purchased on October 29, 2010. The deals for the Lynx and Findley pipelines won't be finalized until mid 2011.[6][7] Reasons for the Simonette acquisition include geologically attractive land in the capture area as well as the opportunity to also acquire pipelines in the area.[8]

Business

Keyera operates within the midstream sector of the industry meaning it doesn't produce or refine petroleum, instead it services companies that do by providing them with the means to store and transport oil and gas. As of early 2011 it owned 18 gas plants and over 3,400 km of pipelines that run through parts of North America. Its latest plant addition is Simonette which has a processing capacity of over 80×10^6 cu ft/d (2,300,000 m3/d); the deal for that was finalized December 14, 2010 and included 66.7% of the North Cabin pipeline and 50% of a comperessor station.[7][9] In 2010 capex was the second highest since 2005 ($587.8 million).[1]

Business units

  • Gathering and processing - Involves 18 gas processing plants which receive natural gas via local pipeline networks. Processing benefits both the producers and Keyera since it both extracts economically viable products (that Keyera gets to sell) and removes impurities (making it usable by consumers).
  • Liquids - extracts, stores and delivers propane, butane and other components of natural gas.

References

  1. ↑ 1.0 1.1 1.2 1.3 "Keyera 2010 Financial Report". 2011. http://www.keyera.com/AnnualReports/2010financial.
  2. ↑ Keyera structure
  3. ↑ "Keyera Increases Sour Gas Holdings in Alberta". 2008-12-03. http://www.midstreambusiness.com/Gathering-Processing-Miscellaneous/Keyera-Increases-Sour-Gas-Holdings-Alberta_n20635.
  4. ↑ Gas Products Marketing Keyera
  5. ↑ "Keyera:Western Canadian Basin". http://www.keyera.com/titanweb/keyera/keyera.nsf/AllDoc/ED81096E54631E03872576150074B608?OpenDocument. Retrieved 2011-05-17.
  6. ↑ "Keyera Invests $82 Million to Acquire Remaining Ownership in Simonette Area Midstream Assets". 2010-11-12. http://www.newswire.ca/en/releases/archive/November2010/10/c3199.html.
  7. ↑ 7.0 7.1 "Keyera Announces Closing of Simonette Midstream Assets". 2010-12-14. http://www.bloomberg.com/apps/news?pid=conewsstory&tkr=KEY:CN&sid=a4Slh7Vbfy88.
  8. ↑ "Keyera 2010 Annual Report". 2011. http://www.keyera.com/AnnualReports/2010overview.
  9. ↑ "Doneybrook Energy Inc: Resthaven-Simonette Montney Operations Update Biston Farmout". 2011-03-14. http://www.evaluateenergy.com/Universal/View.aspx?type=Story&id=97571.


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