CALGARY, ALBERTA–(Marketwired – June 5, 2017) – Gibson Energy Inc. (“Gibsons” or the “Company”), (TSX:GEI), announced today that Steve Spaulding has been named as the company’s President and Chief Executive Officer. This appointment will be effective June 19, 2017, at which time he will also become a member of Gibsons’ Board of Directors.
Steve is an accomplished industry veteran with more than 25 years’ experience in the midstream space. Most recently, Steve served as Executive Vice President of Lone Star NGL LLC, a subsidiary of Energy Transfer Partners. Based in Dallas, Texas, Lone Star provides natural gas liquids storage, refinery, fractionation and processing, and pipeline transportation services. During his tenure, Lonestar’s fractionation capacity grew from zero to 540 mbpd and NGL transport capacity grew from 125 mbpd to 800 mbpd. He was also EVP NGL’s at Energy Transfer Partners, a $57 billion integrated midstream services provider across crude oil, natural gas and NGL commodities, also based in Dallas.
Prior to that, Steve served as Senior Vice President, Gathering and Processing at Crosstex Energy, which is now EnLink Midstream Partners. Steve brings expertise in leading midstream businesses, building organizations, business development, marketing and operations, which began with his roots of almost twenty years spent at Chevron and Texaco.
“We are excited to have attracted a strong leader like Steve. He understands the midstream space and brings a strategic and entrepreneurial mindset, a strong customer focus, and a track record of driving profitable organic growth,” said Jim Estey, Chairman of the Board. “The Board is confident that we have identified the right leader to drive Gibson’s continued infrastructure based growth and evolution within the North American midstream sector.”
“This is an exciting time for Gibsons. I am pleased to have the opportunity to lead the company through its next phase of infrastructure growth and development, supported by solid marketing and logistics capabilities,” said Spaulding. “Gibsons has an outstanding portfolio of midstream assets and an impressive team of employees across North America. I look forward to getting settled in Calgary and working with the team to advance and execute the Company’s strategy.”
Steve succeeds current President and CEO, Stew Hanlon, who will be available in an advisory capacity to facilitate the transition into 2018. Mr. Hanlon is retiring from the CEO role after twenty-six years of service to the company.
“I want to thank Stew on behalf of the Board and all his colleagues for his exceptional leadership, dedication and contributions to Gibsons,” added Mr. Estey.
Gibsons is a Canadian-based midstream energy company with operations in most of the key hydrocarbon-rich basins in North America. For over 60 years, Gibsons has delivered integrated midstream solutions to customers in the oil and gas industry. With headquarters in Calgary, Alberta, the Company’s North American operations include the storage, blending, processing, transportation, marketing and distribution of crude oil, natural gas liquids and refined products. The Company also provides oilfield waste and water management services.
Gibson Energy Inc. shares trade under the symbol GEI and are listed on the Toronto Stock Exchange. For more information, visit www.gibsons.com.