Keyera Corp.
Capital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Company Description
- CEO
- C. Dean Setoguchi
- Full Time Employees
- 1,257
- Sector
- Industrial services
- Industry
- Oil & gas pipelines
- Address
- The Ampersand Calgary AB Canada T2P 3N4
- IPO Date
- May 30, 2003
- Website
- keyera.com
- Similar Companies
- Business
- Keyera Corp. (TSX: KEY) operates an integrated midstream energy infrastructure business in western Canada, focusing on the gathering and processing of natural gas; the transportation, fractionation, storage, and terminaling of natural gas liquids (NGLs), crude oil, and refined products; and the marketing of NGL products including propane, butane, condensate, iso-octane, and natural gas. The company conducts its activities through three primary segments: Gathering and Processing, which includes raw gas gathering systems, compression, and processing plants such as the Rimbey, Strachan, Simonette, Wapiti, Pipestone, Brazeau River, Cynthia, Alder Flats, and Nordegg River facilities primarily in the Western Canada Sedimentary Basin; Liquids Infrastructure, encompassing fractionation units, pipelines, storage terminals, and rail/truck loading facilities like the Edmonton Terminal, Fort Saskatchewan Facility (KFS), Alberta Diluent Terminal (ADT), Base Line Terminal, Josephburg Terminal, South Cheecham Terminal, and select U.S. terminals in Oklahoma including Wildhorse and Oklahoma Liquids Terminal; and Marketing, which involves sales of NGLs, iso-octane production and sales via Alberta Envirofuels (AEF), liquids blending, and condensate handling to industrial, commercial, and export customers across Canada, the United States, and international markets. Founded in 1998 and headquartered at The Ampersand, Suite 200, West Tower, 144-4th Avenue SW in Calgary, Alberta, Canada, Keyera provides fee-for-service solutions to oil and gas producers, leveraging an extensive network of interconnected assets to connect production areas to downstream markets. In June 2025, Keyera announced a transformative $5.15 billion acquisition of substantially all of Plains All American Pipeline's Canadian NGL business plus select U.S. assets, including C3+ fractionation capacity of approximately 193,000 barrels per day, 23 million barrels of storage, over 1,500 miles of pipelines, straddle gas processing at Empress, and additional terminals across Alberta, Saskatchewan, Manitoba, Ontario, and the U.S., expected to close in the first quarter of 2026 subject to regulatory approvals; this deal enhances scale, extends the integrated NGL value chain to eastern North America, and projects approximately 50% pro forma growth in fee-based adjusted EBITDA in the first full year with $100 million in near-term synergies. To fund the transaction, Keyera raised approximately $2.8 billion through a $1.8 billion equity offering of subscription receipts, a $3.35 billion acquisition credit facility, $2.3 billion in senior notes, and $500 million in hybrid notes during 2025. The company also advanced capital-efficient growth projects, including the sanctioned KFS Frac II debottleneck (8,000 bpd, mid-2026 in-service, $85 million), KFS Frac III expansion (47,000 bpd plus egress, mid-2028 in-service, $500 million), and KAPS Zone 4 pipeline (85 km from Pipestone to Gordondale, mid-2027 in-service, $220 million net), all underpinned by long-term take-or-pay contracts now substantially filling fractionation capacity with average lives extending to 11 years by 2028. Additionally, Keyera achieved its 2025 GHG emissions intensity reduction target of 25% (Scope 1 and 2) one year early in 2024 and reaffirmed a 7-8% CAGR target for fee-based adjusted EBITDA through 2027.
Company News
Keyera Corp. (OTCMKTS:KEYUF) Stock Now Rated “Buy” by Wall Street Brokerages
Keyera Q2 Earnings Call Highlights
Keyera: Becoming Canada's NGL Clearinghouse
Canada's Keyera to buy remaining 50% stake in KAPS pipeline for $861 million
Keyera Corp. (KEY:CA) Q4 2026 Guidance Call Transcript
Keyera Corp: Risk-Reward Shifting But Still Bullish
Keyera, AltaGas and CN Partner to Build Strategic Canadian Infrastructure
Keyera Q1 Earnings Call Highlights
Keyera Corp. (KEY:CA) Shareholder/Analyst Call Transcript
Keyera Corp. (KEY:CA) Q1 2026 Earnings Call Transcript
Canada Antitrust Watchdog Seeks to Block Keyera Deal for Plains' Canada Gas Business
KeyCorp (NYSE:KEY) Shares Unloaded Rep. Gilbert Ray Cisneros, Jr.
Midstream Energy: Relative Favorability
Keyera Corp. (OTCMKTS:KEYUF) Given Consensus Rating of “Moderate Buy” by Analysts
Keyera Corp. (KEY:CA) Q4 2025 Earnings Call Transcript
Keyera: A Transformational Acquisition
Keyera Corp. (KEY:CA) Q3 2025 Earnings Call Transcript
Keyera: Benefitting From Basin Growth
Thoughts On Midstream Energy Firms
Keyera Corp. (KEYUF) Q2 2025 Earnings Call Transcript