Keyera reported Q1 adjusted EBITDA of CAD 232 million following its acquisition of Plains’ Canadian NGL business, despite a net loss of CAD 122 million.
Keyera reported first-quarter adjusted EBITDA of CAD 232 million, driven by strong performance in fee-based businesses, while distributable cash flow reached CAD 133 million. Marketing segment results were weaker, and net earnings reflected a loss of CAD 122 million.
The company recently closed its acquisition of Plains’ Canadian natural gas liquids business, which is now under review by the Competition Tribunal. Management expressed confidence in the deal’s approval and highlighted integration efforts and expected synergies.
Keyera also confirmed progress on growth projects, including the KFS Frac II facility expected online by late June, while repairs at the AEF facility are complete and full capacity is anticipated by May’s end.