Inter Pipeline Ltd.

Inter Pipeline Ltd.

Inter Pipeline Ltd.

Overview
Date Founded

2013

Headquarters

215-2nd Street SW,Suite 3200,Calgary, AB T2P 1M4

Type of Company

Public

Employees (Worldwide)

1,470

Industries

Oil & Gas

Company Description

Created in 1997, Inter Pipeline Fund is a major petroleum transportation, storage and natural gas liquids extraction business based in Calgary, Alberta, Canada. Inter Pipeline is a publicly traded limited partnership that owns and operates a diversified combination of energy infrastructure assets in western Canada, the United Kingdom, Denmark, Germany and Ireland. This asset portfolio generates long-term and predictable cash flows, thereby providing unitholders with a growing and stable source of monthly cash distributions. Inter Pipeline operates approximately 6,300 kilometres of petroleum pipelines and 4.8 million barrels of storage in western Canada. These systems transport approximately 990,000 barrels per day of oil sands bitumen and conventional crude oil in 2012, representing approximately 15% of total western Canadian conventional volumes and roughly 40% of oil sands volumes. Inter Pipeline is one of North America's largest natural gas liquids extraction businesses with ownership in three major extraction facilities located in southern Alberta. These facilities have the capacity to process 6.2 bcf/d of natural gas, and capacity to produce approximately 200,000 b/d of natural gas liquids. Inter Pipeline's NGL business currently processes approximately 40% of the natural gas exported from the province of Alberta. Inter Pipeline is one of North America's largest natural gas liquids extraction businesses with ownership in three major extraction facilities located in southern Alberta. These facilities have the capacity to process 6.2 bcf/d of natural gas, and capacity to produce approximately 200,000 b/d of natural gas liquids. Inter Pipeline's NGL business currently processes approximately 40% of the natural gas exported from the province of Alberta. Inter Pipeline's bulk liquid storage business segment is the fourth largest independent tank storage business in Europe. The bulk liquid storage segment operates through two wholly owned entities. Simon Storage Limited holds Inter Pipeline's storage operations in the United Kingdom, Ireland and Germany. Inter Pipeline's other European entity, Inter Terminals, holds bulk liquid storage assets in Denmark. Simon Storage is a recognized leader in the bulk liquid storage sector. Simon handles, blends and stores over 250 different products primarily comprised of petroleum, petrochemical and alternative fuels. Simon owns and operates eight bulk liquid storage terminals located on the coasts of the United Kingdom, Germany and Ireland with a combined liquid storage capacity of approximately eight million barrels. Other complementary services include facilities management and engineering services to several of the world's largest integrated energy companies. Inter Terminals operates four large terminals that are strategically located along the Danish Straits, the third most active petroleum transit channel in the world. The four terminals have a combined storage capacity of approximately 11 million barrels in 49 tanks. A variety of petroleum products are handled at the four terminals.

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Executives & Employees

President & Chief Executive Officer

Chief Financial Officer

Chief Compliance Officer

Senior Vice President, NGL Processing

Senior Vice President, Transportation

Senior Vice President, Projects & Operations Services

Senior Vice President, Petrochemical Development

Vice President, EH&S & Technical Services

Vice President, Legal

Vice President, NGL Commercial

Board of Directors

Attorney at Richard A Shaw PC

Former Vice Chairman-Investment Banking Division at CIBC World Markets, Inc.

Former President & Chief Executive Officer at Chevron Phillips Chemical Co. LLC

Director, Finance at Interfaith Nutrition Network

Former Engagement Partner at EnCana Corp.

Former President, Union Gas, Spectra Energy's Ontario Distribution Business at Spectra Energy Corp.

President & Chief Executive Officer at Inter Pipeline Ltd.

Former Senior Vice President-Oil Sands at Petro-Canada

Former Secretary, Chief Compliance Officer & Vice President at Enbridge, Inc.

Former Senior Vice President & Managing Director at CIBC World Markets, Inc.

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Owners & Shareholders
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Tortoise Capital Advisors' primary investment strategy is fundamentals based, long-only, with an emphasis on managing risk which they define as the potential for a permanent loss of capital. However, their investment strategies may include short-term purchases and trading where appropriate, as indicated by their fundamental and technical analysis. The firm may employ other strategies for investment company clients involving leveraging and hedging, or writing (selling) covered call options on selected equity securities in the client's portfolio. These other strategies may include currency hedging transactions and interest rate transactions such as swaps, caps and floors. Tortoise Capital Advisors evaluate companies operating in the entire energy value chain to gain a better understanding of the impact on the firm's respective investments. They have primary coverage on all midstream MLPs and pipeline c-corporations in the investment universe, and a majority of the large energy and power companies. Tortoise Capital Advisors have secondary coverage on all other MLPs, as well as a majority of the energy value chain in their investment universe.

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FBIM manages equity, fixed income, and balanced mutual funds for Canadian investors. The firm employs a GARP investment approach across Canadian and Global sectors. They invest in the public equity and fixed income markets across the globe. The firm use bottom-up research to identify stocks with modest price-to-earnings ratios and companies with a history of sustainable, replicable growth. FBIM seeks to maintain a balance between equities and income securities, and domestic and foreign investments, based on current market conditions. Portfolio decisions for each Franklin Bissett income fund are based on a combination of macro-level and security-level research and analysis.

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EIP invests client accounts primarily in the equity securities of issuers in the Energy Industry. Energy infrastructure companies that pay out all or most of their available free cash flow are a core component of EIP's investment strategy. With respect to some of the Funds, the firm may utilize leverage to achieve the funds' intended results. They may also enter into swap agreements, repurchase agreements, options either over the counter or exchange traded, short positions on debt and equity securities, flex options, futures or other derivatives transactions which, though they may not strictly constitute leverage or borrowing, may nonetheless increase a Fund's liabilities. In addition to equities, EIP may utilize debt instruments in its investment strategies, either as stand-alone investments or for the purpose of collateralizing open derivatives positions.

Recent Transactions
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Inter Pipeline Ltd., Inter Terminals Ltd. purchase Nustar Energy LP /European Ops from NuStar Energy LP

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Inter Pipeline Ltd. purchases Cold Lake Pipeline Ltd. from Canadian Natural Resources Ltd.

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Inter Pipeline Ltd. purchases The Williams Cos., Inc. /Canadian Business from The Williams Cos., Inc.

Transaction Advisors
Underwriter

Advised onInter Pipeline Ltd. issued CAD Subscription Receipts - Bought Deal

Auditor

Advised onInter Pipeline Ltd. issued CAD Subscription Receipts - Bought Deal

Underwriter

Advised onInter Pipeline Ltd. issued CAD Subscription Receipts - Bought Deal

Associate

Advised onInter Pipeline Ltd. purchases The Williams Cos., Inc. /Canadian Business from The Williams Cos., Inc.

Legal Advisor

Advised onInter Pipeline Ltd. purchases Vopak Sweden AB from Royal Vopak N. V.

Legal Advisor

Advised onInter Pipeline Ltd. purchases Vopak Sweden AB from Royal Vopak N. V.

Clients

Chevron is one of the world's leading integrated energy companies and conducts business worldwide. Our success is driven by our people and their commitment to get results the right way—by operating responsibly, executing with excellence, applying innovative technologies and capturing new opportunities for profitable growth. We are involved in virtually every facet of the energy industry. We explore for, produce and transport crude oil and natural gas; refine, market and distribute transportation fuels and lubricants; manufacture and sell petrochemical products; generate power and produce geothermal energy; provide energy efficiency solutions; and develop the energy resources of the future, including research for advanced biofuels.

Cenovus Energy, Inc. engages in gas and oil provisions. Its activities include development, production, and marketing of crude oil, natural gas liquids (NGLS), and natural gas in Canada. It operates through four segments: Oil Sands, Deep Basin, Refining & Marketing, and Corporate & Eliminations. The Oil sands segment includes the development and production of bitumen in northeast Alberta including Foster Creek, Christina Lake and Narrows Lake as well as projects in the early stages of development. The Deep Basin segment includes includes land primarily in the Elmworth-Wapiti, Kaybob-Edson, and Clearwater operating areas. The Refining and Marketing segment provides transportation and selling of crude oil, antural gas and NGLS. The Corporate and Eliminations segment includes unrealized gains and losses recorded on derivative financial instruments, divestiture of assets, as well as other administrative, financing activities and research costs. The company was founded in 1881 and is headquartered in Calgary, Canada.

Plains All American Pipeline, L.P. is a publicly traded master limited partnership (“MLP”) engaged in the transportation, storage, terminalling and marketing of crude oil, refined products and liquefied petroleum gas and other natural gas related petroleum products (together "NGL"). Through our general partner interest and majority equity ownership position in PAA Natural Gas Storage, L.P. (NYSE: PNG), we are also engaged in the development and operation of natural gas storage facilities. We own and operate a diversified portfolio of strategically located assets that play a vital role in the movement of U.S. and Canadian energy supplies. On average we handle over 3 million barrels per day of crude oil, refined products and NGL through our extensive network of assets located in key North American producing basins and transportation gateways. As an MLP, we make quarterly distributions of our available cash to our Unitholders. Since our initial public offering in 1998, we have increased our quarterly distribution by 150% to its current level (with February 2013 distribution) of $0.56250 per unit, or $2.25 per unit on an annualized basis. It is our goal to increase our distribution to Unitholders over time through a combination of internal and acquisition-oriented growth. Our common units are traded on the New York Stock Exchange under the symbol "PAA." We are headquartered in Houston, Texas

Key Stats and Financials As of 2018
Market Capitalization
$9.28B
Total Enterprise Value
$13.1B
Earnings Per Share
$1.53
Revenue
$2.59B
Net Profit
$592M
EBITDA
$1.25B
EBITDAMargin
48.21%
Total Debt
$5.66B
Total Equity
$3.97B
Enterprise Value Sales
5.07x
Enterprise Value EBITDAOperating
10.51x
TEVNet Income
22.17x
Debt TEV
0.43x
Three Year Compounded Annual Growth Rate Of Revenue
15.65%
Five Year Compounded Annual Growth Rate Of Revenue
13.94%
Suppliers
Kinder Morgan, Inc. Oil & Gas | HOUSTON, TX

Kinder Morgan, Inc. is an energy infrastructure company. It engages in the operation of pipelines and terminals that transport natural gas; gasoline; crude oil; carbon dioxide (CO2) and other products and stores petroleum products chemicals; and handles bulk materials like ethanol, coal, petroleum coke and steel. The firm operates through the following segments: Natural Gas Pipelines, CO2, Terminals, Product Pipelines and Kinder Morgan Canada. The Natural Gas Pipelines segment engages in the ownership and operation of major interstate and intrastate natural gas pipeline & storage systems, and natural gas & crude oil gathering systems and natural gas processing & treating facilities. The CO2 segment is focused on the production, transportation and marketing of CO2 to oil fields that use CO2 as a flooding medium for recovering crude oil from mature oil fields to increase production. The Terminals segment engages in the ownership and operation of liquids and bulk terminal facilities located throughout the U.S. and portions of Canada that transload and store refined petroleum products, crude oil, chemicals, ethanol & bulk products, including coal, petroleum coke, fertilizer, steel and ores. The Products Pipelines segment owns and operates refined petroleum products, NGL and crude oil and condensate pipelines that primarily deliver, among other products, gasoline, diesel & jet fuel, propane, crude oil and condensate to various markets. The Kinder Morgan Canada segment is focused on the operation of the Trans Mountain pipeline system that transports crude oil and refined petroleum products from Edmonton, Alberta, Canada for marketing terminals and refineries in British Columbia, Canada and the state of Washington. The company was founded by Richard D. Kinder and William V. Morgan in February 1997 and is headquartered in Houston, TX.

ATCO Ltd. Other Business & Consulting Services | Calgary, AB

ATCO Ltd. is engages in structures and logistics, utilities and ports & transportation logistics business. It operates through the following segments: Structures & Logistics, Electricity, Pipelines & Liquids, Neltume Ports and Corporate & Other. The Structures & Logistics segment provides workforce housing, innovative modular facilities, construction, site support services, and logistics and operations management. The Electricity segment includes ATCO Structures & Logistics. This company offers workforce housing, modular facilities, site support services and logistics and operations management. The Pipelines & Liquids segment includes ATCO Gas, ATCO Pipelines, ATCO Gas Australia, and ATCO Energy Solutions. These businesses provide integrated natural gas transmission, distribution and storage, industrial water solutions and related infrastructure development throughout Alberta, the Lloydminster area of Saskatchewan, Western Australia and Mexico. The Corporate & Other segment includes commercial real estate owned by the company in Alberta and ATCO Energy, a retail electricity and natural gas business in Alberta. The Neltume Ports segment includes the equity interest in Neltume Ports S.A., a port operator and developer in South America. The company was founded by S. D. Southern and Ronald D. Southern on February 14, 1947 and is headquartered in Calgary, Canada.

Canadian Utilities Ltd. Power & Utilities | Calgary, AB

Canadian Utilities Ltd. engages in the provision of business solutions to companies in the utilities, energy, structures and logistics, and technologies sector. It operates through the following business units: Electricity, Pipelines & Liquids, and Corporate & Other. The Electricity segment delivers electricity generation, transmission, distribution, and related infrastructure solutions. The Pipelines & Liquids offers energy and industrial water solutions. The Corporate & Other segment includes retail energy. The company was founded on May 18, 1927 and is headquartered in Calgary, Canada.

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