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Steel Reef Infrastructure Corp.

Company Summary

Description

Steel Reef is a privately held mid-stream company targeting strategic small to mid-sized infrastructure investments focused in the Western Canadian Sedimentary Basin.

Website

https://www.steelreef.ca/

Operational Regions

  • Canada

Recent news

  • 9/20/2022 - Summit Midstream Closes... (subscriber access)
  • 11/15/2019 - Crescent Point Utilizing... (subscriber access)
  • 11/15/2019 - Crescent Point Divesting... (subscriber access)

Company Transactions

Date: 3/15/2020
Type: Acquisition

BUYERS:
  • Steel Reef Infrastructure Corp.
    • SELLERS:
  • Crescent Point Energy
    • DETAILS:

    COST: 500 $MM

    NOTES:
    Crescent Point Energy has entered into a deal to divest their natural gas infrastructure in Saskatchewan to Steel Reef Infrastructure Corp. for $500 million in cash. This brings their year-to-date asset sales to $1.45 billion. The package includes nine natural gas processing plants and two gas sales pipelines which handle 90 Mmcf/d in throughput. Crescent Point has also signed a long-term take-or-pay commitment with Steel Reef to continue using the facilities.
    REGIONS:
  • Saskatchewan