Company:Gibson Energy
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| Type | 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 |
| Footnotes / references Financials from Annual Report[1] | |
Gibsons is a Canada-based midstream oilfield service company.[2][3] Its assets include pipelines, oil storage facilities, 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 used to run a trucking service to haul petroleum and other products from and to oil and gas production facilities. The majority of the trucks were leased to independent contractor, who paid upwards of $200 a day for equipment that was supposed to be lease purchased. This has been sold to Trimac.[10] The company also buys, sells, and markets oil and gas on the wholesale market.
See also
References
- ↑ "2015 Annual Report – Rising to the Challenge". Gibson Energy Inc.. http://www.gibsons.com/Gibsons/media/Investors/Financials/2015/GEI_2015YEReport_WEB.pdf. Retrieved September 12, 2016.
- ↑ Morgan, Geoffrey (11 August 2016). "Gibson Energy confirms rejection of unsolicited takeover offer". http://business.financialpost.com/news/energy/gibson-energy-rejected-2-8-billion-unsolicited-takeover-offer-from-singapore-firm?__lsa=6d71-971f. Retrieved 14 September 2016.
- ↑ 3.0 3.1 McGarvey, Dan. "Gibson Energy rejects multi-billion dollar acquisition by 'foreign entity'". http://www.cbc.ca/news/canada/calgary/gibsons-oil-gas-midstream-acquisition-1.3717043. Retrieved 14 September 2016.
- ↑ 4.0 4.1 "Gibson Energy's largest shareholder proposes potential sale of company" (in en-US). Calgary Herald. 2017-08-14. https://calgaryherald.com/business/energy/gibson-energys-largest-shareholder-proposes-potential-sale-of-company.
- ↑ "Gibsons – History". Gibson Energy Inc.. http://www.gibsons.com/About-Gibsons/History.aspx.
- ↑ "Completion of sale of Gibson Energy". Hunting plc. December 12, 2008. http://www.huntingplc.com/media/press-releases/archive/15-12-2008.aspx.
- ↑ "Gibson Energy Inc. enters the environmental service market - Alberta Oil Magazine" (in en-US). Alberta Oil Magazine. 2013-06-05. https://www.albertaoilmagazine.com/2013/06/ceo-profile-gibson-energy-inc/.
- ↑ "Superior Plus purchases Gibson's Canwest Propane for $412M - Article - BNN". BNN. 2017-02-13. https://www.bnn.ca/superior-plus-purchases-gibson-s-canwest-propane-for-412m-1.670359.
- ↑ "Gibsons – Moose Jaw Refinery". Gibson Energy Inc.. http://www.gibsons.com/Business-Need/Business-Segment/Processing-and-Distribution/Moose-Jaw-Refinery.aspx.
- ↑ "Archived copy". https://www.trimac.com/sites/trimac.com/files/Press%20Release%20-%20Trimac%20Acquires%20Gibson%20Energy%20Canadian%20Trucking%20Business.pdf.
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