Gibson Energy Announces 2021 Capital Budget - Seite 2

“With Infrastructure Segment Profit expected to exit 2020 with a quarterly run-rate of approximately $100 million and Marketing Segment Profit expected to be within, though potentially towards the lower end of, our long-term annual run-rate range of $80 million to $120 million, we remain comfortable with our leverage and liquidity position through 2021, both on a consolidated and Infrastructure-only basis,” said Sean Brown, Senior Vice President and Chief Financial Officer. “We will remain proactive in maintaining our long-term target capital structure, including pursuing options to replace the Convertible Debenture in a credit positive, non-dilutive manner. Maintaining the Company’s best-in-class liquidity and funding position is fundamental, in part to ensure we remain well positioned to take advantage of any additional capital opportunities that may arise in 2021.”

To the extent that the Company does not deploy the full $200 million on growth projects in 2021, or the outlook for the Marketing segment strengthens, Gibson would look to return the excess capital to shareholders.

About Gibson
Gibson Energy Inc. (“Gibson” or the “Company”), (TSX: GEI) is a Canadian-based oil infrastructure company with its principal businesses consisting of the storage, optimization, processing, and gathering of crude oil and refined products. Headquartered in Calgary, Alberta, the Company’s operations are focused around its core terminal assets located at Hardisty and Edmonton, Alberta, and also include the Moose Jaw Facility and an infrastructure position in the U.S.

Gibson shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsonenergy.com. 

Forward-Looking Statements
Certain statements contained in this news release constitute forward-looking information and statements (collectively, “forward-looking statements”) including, but not limited to, management’s expectations with respect to the business and financial prospects and opportunities of Gibson or its subsidiaries, business and funding strategy and plans of management, expectations of future market conditions, expectations of growth capital expenditures and replacement capital expenditures in 2021 and growth capital expenditures for 2020, Gibson’s ability to integrate ESG and sustainability initiatives into its business, sanction projects that are in support thereof and the resulting impact of such projects on Gibson’s or its customers’ business and Gibson’s capital allocation, Gibson’s ability to sanction additional tankage and the timing thereof, Gibson's expectations with respect to its funding position, Gibson’s expectations of the Infrastructure and Marketing segments, the return of capital to shareholders and the conditions upon which Gibson would do so and Gibson's plans and strategies to realize its projections. All statements other than statements of historical fact are forward-looking statements. The use of any of the words ‘‘anticipate’’, ‘‘plan’’, ‘‘contemplate’’, ‘‘continue’’, ‘‘estimate’’, ‘‘expect’’, ‘‘intend’’, ‘‘propose’’, ‘‘might’’, ‘‘may’’, ‘‘will’’, ‘‘shall’’, ‘‘project’’, ‘‘should’’, ‘‘could’’, ‘‘would’’, ‘‘believe’’, ‘‘predict’’, ‘‘forecast’’, ‘‘pursue’’, ‘‘potential’’ and ‘‘capable’’ and similar expressions are intended to identify forward-looking statements. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward-looking statements. No assurance can be given that these expectations will prove to be correct and such forward-looking statements included in this news release should not be unduly relied upon. These statements speak only as of the date of this news release. In addition, this news release may contain forward-looking statements and forward-looking information attributed to third party industry sources. The Company does not undertake any obligations to publicly update or revise any forward-looking statements except as required by securities law. Actual results could differ materially from those anticipated in these forward-looking statements as a result of numerous risks and uncertainties including, but not limited to, the risks and uncertainties described in “Forward-Looking Statements” and “Risk Factors” included in the Company’s Annual Information Form dated February 24, 2020 as filed on SEDAR and available on the Gibson website at www.gibsonenergy.com.