Gibson Energy Announces Closing of Sale of U.S. Energy Services Businesses

May 03, 2018

All financial figures are in Canadian dollars

CALGARY, Alberta, May 03, 2018 (GLOBE NEWSWIRE) -- Gibson Energy Inc. (“Gibson” or the “Company”), (TSX:GEI), announced today it has closed the sale of its U.S. energy services businesses, including U.S. Environmental Services and its U.S. seismic assets. The disposition was completed through two separate transactions for aggregate gross proceeds of approximately US$96 million prior to closing adjustments, or approximately $125 million at current exchange rates.

About Gibson
Gibson is a Canadian-based oil infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of crude oil and refined products. Headquartered in Calgary, Alberta, the Company’s operations are focused around its core terminal assets located at Hardisty and Edmonton, Alberta, and also include the Moose Jaw Facility and injections stations in Texas and Oklahoma.

Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsonenergy.com.

For further information, please contact:

Mark Chyc-Cies
Vice President, Investor Relations
Phone: (403) 776-3146
Email: mark.chyccies@gibsonenergy.com

 

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