By purchasing 62.5% of the Simonette gas plant, 66.7% of the North Cabin pipeline and 50% of the Solomon and Cabin Creek pipeline and compressor station, Keyera will own 100% of these facilities when this transaction is complete.
As part of this transaction, Keyera will also acquire 100% of the 37km Findley pipeline and an average ownership interest of 30.4% in the 72km Lynx pipeline.
The transaction is expected to close prior to year-end and is subject to normal closing conditions, including execution of a formal purchase and sale agreement.
In a previously announced transaction, Keyera has invested $47.5m to acquire a 37.5% ownership interest in the Simonette gas plant, as well as interests in a compression facility and the North Cabin and Solomon and Cabin Creek gathering pipelines that deliver gas to the plant for processing.
The Simonette gas plant, located approximately 120km northwest of the town of Edson, has a licensed capacity of 150 million cubic feet per day and is currently 38% utilized.
