Inter Pipeline Announces Capital Expenditure Program for 2016
(firmenpresse) - CALGARY, ALBERTA -- (Marketwired) -- 12/21/15 -- Inter Pipeline Ltd. ("Inter Pipeline") (TSX: IPL) announced today a $250 million capital expenditure program for 2016, primarily directed towards its conventional oil gathering and oil sands transportation businesses. Organic growth projects are expected to account for approximately $190 million of total capital expenditures, with sustaining capital requirements accounting for the remainder.
As expected, Inter Pipeline''s 2016 capital program is lower compared to expenditure levels in recent years as Inter Pipeline has now successfully completed construction work on the major elements of an integrated $3.2 billion expansion on its Cold Lake and Polaris pipeline systems. As a result of the increased mainline capacity provided by these expansion projects, Inter Pipeline is well positioned to pursue future oil sands transportation growth projects in a highly capital-efficient manner.
Approximate planned growth capital expenditures by business segment and sustaining capital requirements for 2016 are described below.
Inter Pipeline Ltd.
Inter Pipeline is a major petroleum transportation, natural gas liquids extraction, and bulk liquid storage business based in Calgary, Alberta, Canada. Inter Pipeline owns and operates energy infrastructure assets in western Canada and Europe. Inter Pipeline is a member of the S&P/TSX 60 Index and its common shares trade on the Toronto Stock Exchange under the symbol IPL. .
Disclaimer
Certain information contained herein may constitute forward-looking statements that involve known and unknown risks, assumptions, uncertainties and other factors. Forward-looking statements in this news release include, but are not limited to, statements regarding timing and completion of, and EBITDA Inter Pipeline expects to generate from current and future projects. Readers are cautioned not to place undue reliance on forward-looking statements, as such statements are not guarantees of future performance. Inter Pipeline in no manner represents that actual results, levels of activity and achievements will be the same in whole or in part as those set out in the forward-looking statements herein. Such information, although considered reasonable by Inter Pipeline at the time of preparation, may later prove to be incorrect and actual results may differ materially from those anticipated in the statements made. For this purpose, any statements that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements often contain terms such as "may", "will", "should", "anticipate", "expects" and similar expressions. Such assumptions, risks, uncertainties and other factors include, but are not limited to, risks and assumptions associated with operations, such as Inter Pipeline''s ability to successfully implement its strategic initiatives and achieve expected benefits, including the further development of its oil sands pipeline systems; assumptions concerning operational reliability; the availability and price of labour and construction materials; Inter Pipeline''s ability to make capital investments and the amounts of capital investments, including those described herein which may be subject to change; the status, credit risk and continued existence of customers having contracts with Inter Pipeline and its affiliates; availability of energy commodities; volatility of and assumptions regarding prices of energy commodities; competitive factors, pricing pressures and supply and demand in the natural gas and oil transportation, ethane transportation and natural gas liquids extraction and storage industries; assumptions based upon Inter Pipeline''s current guidance; fluctuations in currency and interest rates; inflation;
the ability to access sufficient capital from internal and external sources; risks and uncertainties associated with Inter Pipeline''s ability to maintain its current level of cash dividends to its shareholders; risks inherent in Inter Pipeline''s Canadian and foreign operations; risks of war, hostilities, civil insurrection, instability and political and economic conditions in or affecting countries in which Inter Pipeline and its affiliates operate; severe weather conditions; terrorist threats; risks associated with technology; Inter Pipeline''s ability to generate sufficient cash flow from operations to meet its current and future obligations; Inter Pipeline''s ability to access external sources of debt and equity capital; general economic and business conditions; the potential delays of and costs of overruns on construction projects, including, but not limited to Inter Pipeline''s current and future projects; risks associated with the failure to finalize formal agreements with counterparties in circumstances where letters of intent or similar agreements have been executed and announced by Inter Pipeline; changes in laws and regulations, including environmental, regulatory and taxation laws, and the interpretation of such changes to Inter Pipeline''s business; the risks associated with existing and potential future lawsuits and regulatory actions against Inter Pipeline and its affiliates; increases in maintenance, operating or financing costs; availability of adequate levels of insurance; difficulty in obtaining necessary regulatory approvals and maintenance of support of such approvals; and such other risks and uncertainties described from time to time in Inter Pipeline''s reports and filings with the Canadian securities authorities. The impact of any one assumption, risk, uncertainty or other factor on a particular forward-looking statement cannot be determined with certainty, as these are interdependent and Inter Pipeline''s future course of action depends on management''s assessment of all information available at the relevant time. You can find a discussion of those risks and uncertainties in Inter Pipeline''s securities filings at . The forward-looking statements contained in this news release are made as of the date of this document, and, except to the extent required by applicable securities laws and regulations, Inter Pipeline assumes no obligation to update or revise forward-looking statements made herein or otherwise, whether as a result of new information, future events, or otherwise. The forward-looking statements contained in this document are expressly qualified by this cautionary note.
All dollar values are expressed in Canadian dollars unless otherwise noted.
Contacts:
Inter Pipeline Ltd. - Investor Relations:
Jeremy Roberge
Vice President, Capital Markets
403-290-6015 or 1-866-716-7473
Inter Pipeline Ltd. - Media Relations:
Breanne Feigel
Manager, Corporate Communications
587-475-1118 or 1-866-716-7473
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Datum: 21.12.2015 - 08:00 Uhr
Sprache: Deutsch
News-ID 1405735
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Oil & Gas
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