CSV Midstream Solutions Corp. Completes Acquisition of KANATA Energy Group
CALGARY, Alberta, Feb. 14, 2023 (GLOBE NEWSWIRE) — CSV Midstream Solutions Corp. (“CSV” or the “Company”), an independent midstream company based in Calgary, is pleased to announce the acquisition of KANATA Energy Group (“KANATA”).
The midstream infrastructure acquired through this transaction includes majority-operated joint venture interests in natural gas gathering and processing facilities in the heart of the Western Canadian Sedimentary Basin at Valhalla and Simonette, near Grande Prairie, Alberta. The gas plants are strategically located near CSV’s greenfield Albright sour gas processing project, and the Company’s Resthaven Gas Plant, respectively. The KANATA assets will add over 150 million cubic feet per day (MMcf/d) net processing capacity to CSV’s currently forecasted capacity of 470 MMcf/d.
CSV expects the deal to enhance its ability to provide reliable gas processing services to an expanded customer base. Daniel Clarke, CSV’s Chief Executive Officer, explained, “We have a great deal of respect for what the KANATA team accomplished through a very challenging decade in the energy sector. This strategic acquisition will strengthen CSV’s position as a reliable and trusted service provider by broadening our portfolio of assets and expanding our customer base. We are pleased to welcome the KANATA team to CSV and believe the alignment between our company cultures will strengthen our capacity to Create Shared Value.”
CSV’s President, Rick Staples, added, “Today’s announcement reinforces the continued application of CSV’s disciplined growth strategy. The Valhalla and Simonette gas plants consolidate our presence in the prolific Montney, Charlie Lake, and Spirit River plays in northwestern Alberta, allowing CSV to provide reliable midstream services to our new partners and an increasing array of producers in this active corridor.”
CSV was advised by National Bank Financial Inc. and Bennett Jones LLP.
About CSV Midstream Solutions Corp.
CSV Midstream is a Calgary-based company offering a full suite of services for complete midstream solutions. With a vision to advance midstream, the company provides innovative, sustainable strategies in the engineering, design, construction, operation and management of natural gas and NGL assets, including sweet and sour gas processing, liquids handling and fractionation, and gas gathering and transmission pipelines. CSV Midstream’s primary focus is the developing natural gas energy industry in the Western Canadian Sedimentary Basin.
For more information about CSV Midstream, please visit csvmidstream.com.
Contact Information for CSV Midstream
Daniel Clarke
Chief Executive Officer
t: 587.316.6900
e: daniel.clarke@csvmidstream.com
Don Rawson
Chief Financial Officer
t: 587.316.6900
e: don.rawson@csvmidstream.com
