In a recent announcement, Gibson Energy Inc. revealed its target growth capital expenditures for 2024. With a budget of $150 million, the company is committed to pursuing high-quality infrastructure opportunities that generate positive returns. This article explores Gibson Energy's plans for growth capital expenditures and their focus on key locations such as Edmonton, Hardisty, and Moose Jaw. Additionally, we'll delve into the newly acquired Gateway terminal and the company's commitment to its Financial Governing Principles.
Gibson Energy's Growth Capital Expenditures for 2024
Discover the target growth capital expenditures set by Gibson Energy Inc. for 2024 and their commitment to pursuing infrastructure opportunities.
Gibson Energy Inc. has announced its growth capital expenditures for 2024, with a budget of $150 million. This allocation reflects the company's commitment to pursuing high-quality infrastructure opportunities that generate positive returns. By investing in strategic projects, Gibson Energy aims to enhance its operations and drive long-term growth.
The growth capital budget for 2024 will primarily fund projects in key locations such as Edmonton, Hardisty, and Moose Jaw. These areas play a crucial role in the company's operations and offer significant growth potential. Additionally, the recently acquired Gateway terminal will receive an investment of $25 million, further expanding Gibson Energy's footprint.
Financial Stability and Commitment to Governance
Learn how Gibson Energy maintains financial stability and adheres to its Financial Governing Principles.
Gibson Energy places a strong emphasis on financial stability and responsible governance. The company's Net Debt to Adjusted EBITDA ratio and Dividend Payout ratio were within target ranges at the end of the third quarter of 2023, showcasing its commitment to maintaining a healthy financial position.
By adhering to its Financial Governing Principles, Gibson Energy ensures that it remains within its budget and capital allocation guidelines. This disciplined approach allows the company to effectively manage its resources and make strategic decisions that benefit its shareholders.
Looking ahead, Gibson Energy aims to deploy its capital in a disciplined manner throughout 2024. With a focus on generating positive returns, the company is well-positioned to deliver value to its stakeholders while maintaining financial stability.
New Directors Strengthening the Board
Explore the appointment of Maria Hooper and Khalid Muslih as new directors and their contributions to Gibson Energy's growth strategy.
Gibson Energy recently announced the appointment of two new directors to its Board, Maria Hooper and Khalid Muslih. These additions bring a wealth of experience and expertise to the company, further strengthening its leadership team.
Maria Hooper, with over 30 years of experience in the global energy industry, will provide valuable insights and perspectives to support Gibson Energy's growth strategy. Khalid Muslih, with his extensive corporate leadership and operational management experience, will contribute to the company's strategic decision-making process.
The addition of these new directors aligns with Gibson Energy's commitment to diversity and inclusion. With over 50% of positions held by members of diverse communities, the company exceeds its Environmental, Social, and Governance (ESG) Targets, ensuring a well-rounded and inclusive Board.
Gibson Energy's Leading Position in the Liquids Infrastructure Industry
Discover Gibson Energy's principal businesses and its role in the storage, optimization, processing, and gathering of liquids and refined products.
Gibson Energy is a leading player in the liquids infrastructure industry, with operations spanning across North America. The company's principal businesses revolve around the storage, optimization, processing, and gathering of liquids and refined products.
With a focus on providing reliable and efficient solutions, Gibson Energy plays a crucial role in the transportation and distribution of energy resources. By strategically locating its facilities and leveraging its expertise, the company ensures the smooth flow of liquids and refined products throughout the supply chain.
As a trusted partner to its customers, Gibson Energy continues to innovate and invest in its infrastructure to meet the evolving needs of the industry. Through its commitment to excellence, the company remains at the forefront of the liquids infrastructure sector.