Already a co-owner of the O'Chiese Nees-Ohpawganu'ck deep-cut gas plant, Keyera's acquisition will boost its holdings in the facility to make it the majority owner with a 70% working interest.
"The acquisition is expected to be immediately accretive to Keyera's distributable cash flow per share, which creates value for our shareholders," said chief executive David Smith.
"With strong geology supporting producer activity in the area, the Alder Flats plant is expected to remain a core gathering and processing asset for Keyera and a cost-effective, networked processing solution for area producers over the long term."
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