Gibsons is a
Canada
Canada is a country in North America. Its Provinces and territories of Canada, ten provinces and three territories extend from the Atlantic Ocean to the Pacific Ocean and northward into the Arctic Ocean, making it the world's List of coun ...
-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 cr ...
oilfield service company.
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; ) is a stock exchange located in Toronto, Ontario, Canada. It is the List of stock exchanges, 10th largest exchange in the world and the third largest in North America based on market capitalization. Based in th ...
.
History
Gibsons was founded with the incorporation of its predecessor in 1953. It was initially a subsidiary of
Hunting plc
Hunting plc is a United Kingdom, British-based supplier to the oil and gas industry. Some 27% of the business is owned by the Hunting family. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index.
History
The compa ...
, a British firm in the same business. Gibsons was sold by Hunting plc to an
energy industry
The energy industry refers to all of the industries involved in the production and sale of energy, including fuel extraction, manufacturing, oil refinery, refining and distribution. Modern society consumes large amounts of fuel, and the energy in ...
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
A refinery is a production facility composed of a group of chemical engineering unit processes and unit operations refining certain materials or converting raw material into products of value.
Types of refineries
Different types of refineries ...
in
Moose Jaw
Moose Jaw is the List of cities in Saskatchewan, 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, Saskatchewan, Re ...
that is Western Canada's largest supplier of the
asphalt
Asphalt most often refers to:
* Bitumen, also known as "liquid asphalt cement" or simply "asphalt", a viscous form of petroleum mainly used as a binder in asphalt concrete
* Asphalt concrete, a mixture of bitumen with coarse and fine aggregates, u ...
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 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.
See also
*
List of oilfield service companies
This is a list of oilfield service companies – which provide services to the petroleum exploration and production industry but do not typically produce petroleum. In the list, notable subsidiary companies and divisions are listed as sub-lists o ...
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