Brian Zinchuk is editor and owner of Pipeline Online
CALGARY – On May 1 Gibson Energy Inc. announced the closing of its previously announced acquisition of Teine Energy Ltd.’s Chauvin infrastructure assets. Through the transaction, Gibson has acquired a crude oil gathering pipeline system and associated infrastructure connecting Chauvin to the Hardisty oil hub, extending the company’s strategic footprint at Hardisty and reinforcing the stable, contracted nature of its cash flows.
Chauvin is three miles west of the Saskatchewan-Alberta border on Highway 610. Teine Energy is one of the leading oil producers in west central Saskatchewan.
“Today marks a significant milestone for Gibson as we complete this strategic acquisition, strengthening our position and ability to deliver services to customers in and around our core Hardisty terminal,” said Riley Hicks, senior vice president and chief financial pfficer. “Our focus now turns to integration and maintaining the safe, reliable service our customers expect. We are advancing key growth initiatives that support delivery on our investor day targets and create long-term value for shareholders while maintaining a disciplined approach to capital allocation.”
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The acquisition of the Chauvin infrastructure assets is underpinned by long-term take-or-pay and area-of-dedication agreements with Teine Energy, Gibson said in a release. Concurrent with closing, Gibson has sanctioned the Hardisty Connection growth project which will directly connect the Chauvin Infrastructure Assets to the company’s core terminal and enhance connectivity for customers. By the end of 2026, Gibson expects to sanction the Chauvin pipeline expansion project to increase effective capacity from 30,000 bpd to an expected 45,000 bpd.
The $400 million purchase price for the transaction was funded through a combination of net proceeds from Gibson’s previously completed $215 million bought deal equity offering and drawings under its existing credit facility.
Gibson received a no-action letter from the Canadian Competition Bureau on April 30, 2026 confirming that the Commissioner of Competition does not intend to make an application under section 92 of the Competition Act (Canada) in respect of the transaction.
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