Keyera Announces Closing of West Central Alberta Asset Acquisition

 Keyera Announces Closing of West Central Alberta Asset Acquisition  CALGARY, May 1, 2014 /CNW/ - Keyera Corp. (TSX:KEY) ("Keyera") announced today  that it closed its previously announced acquisition of ownership interests in  certain gas processing assets in west central Alberta and associated oil and  gas reserves.  The acquisition includes:            --  an 85% ownership interest in the West Pembina 6-28 gas plant,             along with the corresponding working interest in lands from             which gas is produced into the plant;         --  an additional 4.6% ownership interest in the Bigoray gas plant             (bringing its ownership in that plant to 100%), along with             certain associated reserves which produce into the plant; and         --  varying ownership interests in certain associated oil             batteries, compressors and gathering pipelines.  The acquired reserves are all from the Nisku formation.  The total purchase price was approximately $113 million.  Some of the assets  are subject to third party claims, including certain reserves which are  subject to rights of first refusal (ROFRs).  The reserves to which ROFRs  apply, together with the corresponding purchase price, are being held in  escrow pending the expiry or exercise of the ROFRs.  About Keyera  Keyera Corp. (TSX:KEY) operates one of the largest natural gas midstream  businesses in Canada. Its business consists of natural gas gathering and  processing as well as the processing, transportation, storage and marketing of  NGLs, the production of iso-octane and crude oil midstream activities.  Keyera's gas processing plants and associated facilities are strategically  located in the west central, foothills and deep basin natural gas production  areas of the Western Canada Sedimentary Basin. Its NGL and crude oil  infrastructure, including pipelines, terminals and processing and storage  facilities, as well as its iso-octane facility, are located in Edmonton and  Fort Saskatchewan, Alberta, a major North American NGL hub. Keyera markets  propane, butane, condensate and iso-octane to customers in Canada and the  United States.  Disclaimer  This document contains forward-looking statements based on Keyera's current  expectations and assumptions relating to its business, the environment in  which it operates, its future operations, the performance of its assets,  including the newly acquired assets, the interpretation of the rights of first  refusal and asserted third party claims, as well as the terms and conditions  under which Keyera completed the acquisition. As these forward-looking  statements depend upon future events, actual outcomes may differ materially  depending on factors such as: the exercise of rights of first refusal; a  determination that there are rights of first refusal extending beyond the  reserves; the interpretation of the rights of first refusal under the  agreements governing the West Pembina 6-28 gas plant and certain reserves; a  determination that there are valid third party claims to any of the assets;  Keyera's ability and right to operate the acquired facilities; producer  interest in the services being offered; future operating results of the  assets; the ability of Keyera to execute each of their strategic initiatives  in connection with the facilities and reserves acquired; changes in production  decline rates; weather conditions; commodity supply/demand balances and  prices; activities of producers, competitors, customers, business partners and  others; overall economic conditions; access to capital and financing  alternatives; operational risks associated with gas plant operation and oil  and gas production; turnaround scheduling and costs; environmental  liabilities; and potential delays or changes in producer development plans in  the area; the legislative, regulatory and tax environment; and other known or  unknown factors. There can be no assurance that the results or developments  anticipated by Keyera will be realized or that it will have the expected  consequences for or effects on Keyera.  For additional information on these and other factors, see Keyera's public  filings on www.sedar.com. Unless otherwise required by applicable laws, Keyera  does not intend to publicly update or revise forward-looking statements,  whether as a result of new information, future events or otherwise.    SOURCE  Keyera Corp.  about Keyera, please visit our website atwww.keyera.com or contact:  Keyera Corp. John Cobb, Vice-President, Investor Relations, or Julie Puddell,  Manager, Investor Relations Email:ir@keyera.com; Telephone: 403.205.7670 /  Toll Free: 888.699.4853  To view this news release in HTML formatting, please use the following URL:  http://www.newswire.ca/en/releases/archive/May2014/01/c6153.html  CO: Keyera Corp. ST: Alberta NI: OIL MNA  
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