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BRIEF-Gibson Energy Board Approved 2018 Growth Capital Expenditure Budget Of $120 Mln To $150 Mln
December 5, 2017 / 9:52 PM / in 7 days

BRIEF-Gibson Energy Board Approved 2018 Growth Capital Expenditure Budget Of $120 Mln To $150 Mln

Dec 5 (Reuters) - Gibson Energy Inc:

* GIBSON ENERGY ANNOUNCES 2018 CAPITAL BUDGET

* ‍ITS BOARD OF DIRECTORS HAS APPROVED A 2018 GROWTH CAPITAL EXPENDITURE BUDGET IN RANGE OF $120 MILLION TO $150 MILLION​

* ‍HAS APPROVED ALLOCATION OF APPROXIMATELY $30 MILLION IN UPGRADE AND REPLACEMENT CAPITAL EXPENDITURES​

* - CONTINUE TO EXPECT THAT CO WILL SANCTION ONE TO TWO TANKS PER YEAR ON A RUN RATE BASIS IN A FLAT OIL PRICE ENVIRONMENT

* GIBSON ENERGY-ANTICIPATE CO WILL SECURE INCREMENTAL INFRASTRUCTURE GROWTH PROJECTS THAT WILL GIVE OPPORTUNITY TO INVEST $50 MILLION TO $100 MILLION IN 2018​

* - COMPANY NEEDS TO FURTHER LEVERAGE ITS EXISTING ASSET BASE TO DRIVE ADDITIONAL GROWTH

* - 2018 CAPEX REFLECTS THAT NEARLY ALL OF GROWTH CAPITAL BEING INVESTED AT HARDISTY AND EDMONTON TERMINALS UNDER LONG-TERM Source text for Eikon: Further company coverage:

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