CALGARY, June 28, 2013 /CNW/ - Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A) ("Keyera") announced today that operational issues at its Alberta EnviroFuels facility have resulted in the plant being shut down for repairs.
The facility was taken offline on June 15 to address operational problems that could not be resolved while the plant was running. Since that time, staff at the facility have been working to resolve the problem. Re-assembly of the process unit will begin shortly and Keyera anticipates that the facility will resume production of iso-octane in early July and reach normal production by mid-month. This schedule assumes that the re-assembly goes as planned and that the plant resumes production without any further complications.
The impact on iso-octane sales was minor in June, as the majority of product had been shipped to customers prior to the outage. Existing iso-octane inventory is available to meet a portion of July sales and Keyera expects to resume regular sales and deliveries once the facility is back on line.
This document contains forward-looking statements based on management's current expectations and assumptions relating to Keyera's business, the environment in which it operates, anticipated timing and closing of the acquisitions and the future operations and performance of the assets. As these forward-looking statements depend upon future events, actual outcomes may differ materially depending on factors such as: satisfactory resolution of the operational problems at the facility; resumption of stable operations at the facility on schedule; operating capacity facility; future operating results of the assets; Keyera's ability to execute its strategic initiatives; construction and input costs; weather conditions; construction scheduling variables; commodity supply/demand balances and prices; activities of producers, competitors, customers, business partners and others; overall economic conditions; access to capital and financing alternatives; operational risks in developing and producing natural gas; and potential delays or changes in plans with respect to development projects or capital expenditures or the results therefrom; the legislative, regulatory and tax environment; and other known or unknown factors. There can be no assurance that the results or developments anticipated by Keyera will be realized or that they will have the expected consequences for or effects on Keyera.
About Keyera Corp.
Keyera Corp. (TSX:KEY) (TSX:KEY.DB.A) operates one of the largest natural gas midstream businesses in Canada. Its business consists of natural gas gathering and processing as well as the processing, transportation, storage and marketing of Natural Gas Liquids (NGLs), the production of iso-octane and crude oil midstream activities.
Keyera's gas processing plants and associated facilities are strategically located in the west central, foothills and deep basin natural gas production areas of the Western Canada Sedimentary Basin. Its NGL and crude oil infrastructure, including pipelines, terminals and processing and storage facilities, as well as its iso-octane facility, are located in Edmonton and Fort Saskatchewan, Alberta, a major North American NGL hub. Keyera markets propane, butane, condensate and iso-octane to customers in Canada and the United States.
SOURCE: Keyera Corp.
For further information:
For further information about Keyera, please visit our website at www.keyera.com or contact:
John Cobb, Vice President, Investor Relations, or
Julie Puddell, Manager, Investor Relations
E-mail: [email protected]
Telephone: (403) 205-7670
Toll Free: (888) 699-4853
Facsimile: (403) 205-8425