Keyera Corp. announced it is proceeding with phase two of its Wapiti Gas Plant, adding 150 million cubic feet per day of sour gas processing to the Plant, which is currently under construction south of Grande Prairie, Alberta. Based on current plans, construction of this second phase is expected to be completed in mid-2020 at an estimated cost of approximately $150 million.
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Keyera Corp. has announced the development of a crude oil storage and blending terminal in Cushing, Oklahoma. The Wildhorse Terminal ("Wildhorse") will include 12 above ground tanks with 4.5 million barrels of working storage capacity. The majority of the capacity is backed by fee-for-service, take-or-pay storage arrangements ranging from two to six years in length.
Encana Corporation has reached an agreement with Keyera Partnership, a subsidiary of Keyera Corp., under which Keyera will acquire and fund the remaining development of Encana's Pipestone Liquids Hub and Encana's planned Pipestone Processing Facility. This agreement provides Encana with an additional 33,000 barrels per day (bbls/d) of net raw condensate processing capacity and 170 million cubic feet per day (MMcf/d) of net inlet natural gas processing capacity. Keyera will provide Encana with processing services under a competitive fee-for-service arrangement.
Keyera Corp. has entered into a 20-year midstream agreement with Chevron Canada Limited to fractionate and handle natural gas liquids from Chevron's Kaybob Duvernay operations near Fox Creek, Alberta. The Agreement includes an area of dedication that is in excess of 230,000 gross operated acres and also includes take-or-pay commitments. Under the terms of the Agreement, Chevron will deliver approximately 50% of its natural gas liquids from the area of dedication to Keyera for fractionation, storage and terminalling services on a fee-for-service basis.
Keyera Corp. has agreed with Bellatrix Exploration Ltd. to acquire an additional 35 percent ownership interest in the O'Chiese Nees-Ohpawganu'ck gas plant (the "Alder Flats Plant") and the associated gathering pipelines. The total consideration for the acquisition is $112.5 million, which includes the additional working interest in the facilities, a 10-year take-or-pay commitment, an area dedication agreement and a prepayment of 35 percent of the estimated future construction costs of Phase 2 of the Alder Flats Plant.