January 30, 2018 / 11:12 AM / 9 months ago

BRIEF-Gibson Energy Announces Corporate Strategy For Transition To Focused Oil Infrastructure Growth Co

Jan 30 (Reuters) - Gibson Energy Inc:

* GIBSON ENERGY ANNOUNCES CORPORATE STRATEGY AND ACTIONS TO ACCELERATE TRANSITION TO FOCUSED OIL INFRASTRUCTURE GROWTH COMPANY

* GIBSON ENERGY - AS PART OF STRATEGY, CO WILL DIVEST SEVERAL NON-CORE BUSINESSES AND TARGET COMPETITIVE DISTRIBUTABLE CASH PER SHARE AND DIVIDEND GROWTH

* GIBSON ENERGY - TARGETING 10% DISTRIBUTABLE CASH FLOW PER SHARE GROWTH WITH AIM TO INVEST $150 MILLION - $200 MILLION IN GROWTH CAPITAL/YEAR

* GIBSON ENERGY INC - AGGREGATE PROCEEDS FROM SALE OF NON-CORE BUSINESSES ARE EXPECTED TO RANGE BETWEEN $275 MILLION AND $375 MILLION

* GIBSON ENERGY - EXPECTS LONG-TERM GROWTH OF OIL SANDS PRODUCTION WILL CONTINUE TO INCREASE HEAVY OIL FLOWS INTO HARDISTY

* GIBSON ENERGY - ENGAGED ADVISOR TO SUPPORT SALE OF NGL WHOLESALE AND EXPECTS TO PLACE ALL REMAINING ASSETS TO BE DISPOSED INTO MARKET BY END OF 2018

* GIBSON ENERGY - BELIEVE THERE ARE OPPORTUNITIES TO REALIZE FURTHER COST EFFICIENCIES AT MOOSE JAW FACILITY

* GIBSON ENERGY - OVER NEXT 12 TO 24 MONTHS, WILL SEEK TO RESTORE U.S. BUSINESS PROFITABILITY TO PRIOR LEVELS OF $10 MILLION TO $15 MILLION ON A RUN-RATE BASIS

* GIBSON ENERGY - BELIEVE DISPOSITION PROCEEDS WILL FULLY FUND GROWTH CAPITAL EXPENDITURES THROUGH TO 2019-END Source text for Eikon: Further company coverage:

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