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.


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 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 or contact: 
Keyera Corp. John Cobb, Vice-President, Investor Relations, or Julie Puddell, 
Manager, Investor Relations; Telephone: 403.205.7670 / 
Toll Free: 888.699.4853 
To view this news release in HTML formatting, please use the following URL: 
CO: Keyera Corp.
ST: Alberta
-0- May/01/2014 17:48 GMT
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