CALGARY – Natural gas processor and transporter Keyera Corp. (TSX:KEY) saw its profits swing lower in its latest quarterly report released Tuesday after markets closed.
The Calgary-based company saw its net earnings fall to $38 million or 20 cents per share in the third quarter ended Sept. 30 compared to $52 million or 28 cents per share a year ago.
Keyera also announced plans Tuesday to construct a pipeline system to bring infrastructure and services to producers developing the Montney north of the Wapiti River.
The company says the North Wapiti Pipeline System will extend the capture area of Keyera’s recently approved Wapiti Gas Gathering and Processing Complex.
The new pipeline is currently estimated to cost approximately $120 million with an expected in-service date in the second half of 2019, pending regulatory approvals and permits.