Gibson Energy

Gibson Energy Inc.
Public (TSX: GEI)
Industry Oil and gas
Founded 1953
Headquarters Calgary, Alberta, Canada
Areas served
 Canada and the United States
Key people
 James M. Estey, Chairman
Steve Spaulding, CEO
Revenue C$5,592 million (2015)
(C$280,7 million) (loss) (2015)
Total assets C$3,283 million (2015)
Total equity C$1,167 million (2015)
Website www.gibsons.com
Footnotes / references
Financials from Annual Report[1]

Gibsons is a Canada-based midstream oilfield service company in the oil and gas industry.[2][3] Its assets include pipelines, oil storage facilities, and a trucking division, as well as a refinery in Moose Jaw.[4] It is listed on the Toronto Stock Exchange.

History

Gibsons was founded with the incorporation of its predecessor in 1953.[5] It was initially a subsidiary of Hunting plc, a British firm in the same business. Gibsons was sold by Hunting plc to an energy industry focused private equity fund managed by Riverstone Holdings in December 2008, for C$1.2 billion.[6] It was later listed on the Toronto Stock Exchange on June 14, 2011.

In 2012, Gibson bought Omni Energy Services for $445 million.[7] OMNI was an environmental services provider to the American oil and gas industry.

In 2016, Gibsons Energy rejected a $2.8 billion acquisition proposal from a Singapore private equity firm.[3] In 2017, it sold its industrial propane distribution business, Canwest Propane, to Superior Plus for $412 million.[8] In 2017, its largest shareholder called for the company to sell its non-core assets, and consider selling the whole company.[4]

Current operations

Gibsons has facilities in locations in both the United States and Canada. It owns and operates a refinery in Moose Jaw that is Western Canada's largest supplier of the asphalt used for making roofing shingles.[9] It also runs a number of oil storage terminals, the largest of which is the Hardisty Terminal in Hardisty, Alberta.

Gibsons runs a trucking service to haul petroleum and other products from and to oil and gas production facilities. It also buys, sells, and markets oil and gas on the wholesale market.

See also

References

  1. ↑ "2015 Annual Report – Rising to the Challenge" (PDF). Gibson Energy Inc. Retrieved September 12, 2016.
  2. ↑ Morgan, Geoffrey. "Gibson Energy confirms rejection of unsolicited takeover offer". Financial Post. Retrieved 14 September 2016.
  3. 1 2 McGarvey, Dan. "Gibson Energy rejects multi-billion dollar acquisition by 'foreign entity'". CBC News. Retrieved 14 September 2016.
  4. 1 2 "Gibson Energy's largest shareholder proposes potential sale of company". Calgary Herald. 2017-08-14. Retrieved 2018-02-09.
  5. ↑ "Gibsons – History". Gibson Energy Inc. Retrieved September 12, 2016.
  6. ↑ "Completion of sale of Gibson Energy". Hunting plc. December 12, 2008. Retrieved September 12, 2016.
  7. ↑ "Gibson Energy Inc. enters the environmental service market - Alberta Oil Magazine". Alberta Oil Magazine. 2013-06-05. Retrieved 2018-02-09.
  8. ↑ "Superior Plus purchases Gibson's Canwest Propane for $412M - Article - BNN". BNN. 2017-02-13. Retrieved 2018-02-10.
  9. ↑ "Gibsons – Moose Jaw Refinery". Gibson Energy Inc. Retrieved September 12, 2016.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.