Gibson Energy renews long-term oil sands deals, shares up

Gibson Energy

02/12/2025 15:19

** Shares of Canadian energy infrastructure firm Gibson Energy GEI.TO rise 1.1% to $25.7

** Company renews a 20-year take-or-pay refined products services agreement with a senior integrated oil sands customer at its Edmonton Terminal

** It also extends a terminal storage take-or-pay agreement by an additional 10 years with another senior integrated oil sands customer

** Adds that it has also sanctioned an infrastructure project in Texas to further support U.S. growth

** Co expects 2026 growth capital at $150 mln, including about $50 mln for the Wink-to-Gateway integration project

** "The scope of this project will include new tankage and upgrades at Wink and a connector pipeline at Gateway to enable concurrent Permian and Eagle Ford flows" - GEI

** Including sessions move, shares up 5.3% YTD

 (Reporting by Varun Sahay in Bengaluru)

 ((Varun.sahay@thomsonreuters.com))