Teine Energy Acquired by Gibson Energy | Energy M&A Deal

Gibson Energy has completed the acquisition of Teine Energy, a midstream business in Texas, for $400 million. Gibson Energy acquires Teine Energy’s Chauvin crude oil gathering pipeline system and associated infrastructure connecting Chauvin to the Hardisty oil hub, expanding liquids midstream footprint in the Hardisty terminal area. The add on acquisition is supported by long-term take-or-pay and area-of-dedication agreements that underpin contracted cash flows for energy deals TX and TX acquisitions. Gibson Energy acquisitions are funded through net proceeds from a $215 million bought deal equity offering and drawings on its credit facility, while Gibson also sanctioned the Hardisty Connection project to enhance customer connectivity.