Keyera Announces Unplanned Alberta Envirofuels Facility Outage

Executive Summary

• Keyera announced an unplanned outage at its Alberta Envirofuels (AEF) facility, now expected to return to service in May 2026.
• The outage will be combined with the previously scheduled six‑week major turnaround, eliminating a separate shutdown later in 2026.
• Revised 2026 guidance reflects a $110 million reduction in Marketing segment realized margin, a $15 million hit to Liquids Infrastructure realized margin, a $30 million decrease in cash taxes, and an increase of $10 million in maintenance capital, moving the total Maintenance Capital guidance to $140‑$160 million (up from $130‑$150 million).

Key Details

• Unplanned outage initiated in early January 2026 due to component failure on equipment replaced ~3 years earlier.
• Replacement components require fabrication, delivery, and installation; AEF expected back online May 2026.
• The current outage will also accommodate the previously planned six‑week major turnaround originally slated for fall 2026, removing the need for a later shutdown.
• Financial impact (stand‑alone, pre‑Plains acquisition):
• Marketing segment realized margin down ~$110 million.
• Liquids Infrastructure segment realized margin down ~$15 million.
• Cash taxes expected to decrease by ~$30 million.
• Maintenance capital expenditures up by ~$10 million, revising 2026 guidance range to $140‑$160 million (previously $130‑$150 million).
• Company will issue updated 2026 Marketing guidance after the NGL contract season, as part of its Q1 2026 financial results in May.

Notable Quotes

(No direct quotes provided in the release.)