| Gibson Energy Inc. | |
| Type: | Public |
| Foundation: | 1953 |
| Hq Location City: | Calgary, Alberta |
| Hq Location Country: | Canada |
| Areas Served: | Canada and the United States |
| Key People: | James M. Estey, Chairman Steve Spaulding, CEO |
| Industry: | Oil and gas |
| Revenue: | C$5,592 million |
| Revenue Year: | 2015 |
| Net Income: | (C$280,7 million) (loss) |
| Net Income Year: | 2015 |
| Assets: | C$3,283 million |
| Assets Year: | 2015 |
| Equity: | C$1,167 million |
| Equity Year: | 2015 |
| Footnotes: | Financials from Annual Report[1] |
Gibsons is a Canada-based midstream oilfield service company in the oil and gas industry.[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.
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. 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.
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.