Gibsons is a

Canada Canada is a country in North America. Its ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, covering over , making it the world's second-largest country by to ...

-based

midstream The oil and gas industry is usually divided into three major components: upstream, midstream and downstream. The midstream sector involves the transportation (by pipeline, rail, barge, oil tanker or truck), storage, and wholesale marketing of crud ...

oilfield service company in the

oil and gas industry The petroleum industry, also known as the oil industry or the oil patch, includes the global processes of exploration, extraction, refining, transportation (often by oil tankers and pipelines), and marketing of petroleum products. The larges ...

. Its assets include pipelines, oil storage facilities, as well as a refinery in Moose Jaw. It is listed on the

Toronto Stock Exchange The Toronto Stock Exchange (TSX; french: Bourse de Toronto) is a stock exchange located in Toronto, Ontario, Canada. It is the 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in the ...

History

Gibsons was founded with the incorporation of its predecessor in 1953. 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 The energy industry is the totality of all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, refining and distribution. Modern society consumes large amounts of fuel, and the energy indus ...

focused

private equity fund A private equity fund (abbreviated as PE fund) is a collective investment scheme used for making investments in various equity (and to a lesser extent debt) securities according to one of the investment strategies associated with private equity ...

managed by Riverstone Holdings in December 2008, for C$1.2 billion. It was later listed on the Toronto Stock Exchange on June 14, 2011. In 2012, Gibson bought Omni Energy Services for $445 million. 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. In 2017, its largest shareholder called for the company to sell its non-core assets, and consider selling the whole company.

Current operations

Gibsons has facilities in locations in both the United States and Canada. It owns and operates a refinery in

Moose Jaw Moose Jaw is the fourth largest city in Saskatchewan, Canada. Lying on the Moose Jaw River in the south-central part of the province, it is situated on the Trans-Canada Highway, west of Regina. Residents of Moose Jaw are known as Moose Javian ...

that is Western Canada's largest supplier of the

asphalt Asphalt, also known as bitumen (, ), is a sticky, black, highly viscous liquid or semi-solid form of petroleum. It may be found in natural deposits or may be a refined product, and is classed as a pitch. Before the 20th century, the term ...

used for making roofing shingles. 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 dollars a day for equipment that was supposed to be lease purchased. This has been sold to Trimac. The company also buys, sells, and markets oil and gas on the wholesale market.

References

{{reflist Companies based in Calgary Energy companies established in 1953 Oilfield services companies Companies listed on the Toronto Stock Exchange 1953 establishments in Alberta Oil companies of Canada

History

Current operations

See also

References