Gibson Energy Inc. is a North American liquids infrastructure company engaged in the gathering, storage, optimization, processing, and marketing of crude oil and refined products. The company operates through two primary segments: Infrastructure and Marketing. The Infrastructure segment is the core driver of the business, generating the vast majority of the company's earnings, accounting for over 95% of adjusted EBITDA in recent fiscal years. This segment includes a network of oil terminals, gathering pipelines, rail loading and unloading facilities, and a crude oil processing facility in Moose Jaw, Saskatchewan. Key assets include storage capacity at the Hardisty and Edmonton hubs in Alberta, as well as the Gateway terminal in Ingleside, Texas, which facilitates waterborne vessel loading for crude exports. The Infrastructure segment generates cash flows through long-term, fee-based, take-or-pay contracts with counterparties.
The Marketing segment complements the infrastructure operations by purchasing, selling, storing, and optimizing hydrocarbon products, including crude oil, natural gas liquids, road asphalt, and specialty refined products. This segment sources the majority of its hydrocarbon products from the Western Canadian Sedimentary Basin and the Permian Basin, marketing them to customers throughout Canada and the United States. By leveraging its physical asset base, Gibson Energy connects upstream oil production with downstream fuel processing and export markets, serving as a link in the North American energy supply chain.
