Skip to Content News Archives Economy Energy Oil & Gas Renewables Electric Vehicles Mining Commodities Agriculture Real Estate Mortgages Mortgage Rates Finance Banking Insurance Fintech Cryptocurrency Work Wealth Smart Money Wealth Management Investor Personal Finance Family Finance Retirement Taxes High Net Worth FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials More Innovation Information Technology FP500 Podcasts Small Business Lives Told Tails Told Shopping Financial Post Store Obituaries Place a Notice Advertising Advertising With Us Advertising Solutions Postmedia Ad Manager Sponsorship Requests Classifieds Place a Classifieds ad Working Profile Settings My Subscriptions Saved Articles My Offers Newsletters Customer Service FAQ News Economy Energy Mining Real Estate Finance Work Wealth Investor FP Comment Executive Women Puzzmo Newsletters Financial Times Business Essentials HomeCommoditiesEnergyOil & GasThese two Calgary pipeline companies are eyeing growth as profits soarBoth South Bow Corp. and Keyera Corp. saw profits spike in their latest results You can save this article by registering for free here. Or sign-in if you have an account.South Bow Corp. chief executive Bevin Wirzba in the company's downtown offices with the Bow River in the background on June 4, 2024. Photo by Gavin Young/Postmedia fileTwo Calgary-based pipeline operators are looking to grow after reporting a sharp increase in profits during the spring quarter, though their expansion plans differ in scale and certainty.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman, and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Subscribe now to read the latest news in your city and across Canada.Exclusive articles from Barbara Shecter, Joe O'Connor, Gabriel Friedman and others.Daily content from Financial Times, the world's leading global business publication.Unlimited online access to read articles from Financial Post, National Post and 15 news sites across Canada with one account.National Post ePaper, an electronic replica of the print edition to view on any device, share and comment on.Daily puzzles, including the New York Times Crossword.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one account.Share your thoughts and join the conversation in the comments.Enjoy additional articles per month.Get email updates from your favourite authors.Create an account or sign in to continue with your reading experience.Access articles from across Canada with one accountShare your thoughts and join the conversation in the commentsEnjoy additional articles per monthGet email updates from your favourite authorsSign In or Create an AccountorSouth Bow Corp. aims to turn increasing producer demand into major oil pipeline projects extending south of the border. At the same time, Keyera Corp. focuses on roping recent acquisitions into its operations alongside a slate of infrastructure projects.The company’s varied approaches were clear during Thursday’s conference calls, where they discussed their quarterly results with analysts.South Bow’s ambitions for growth are largely centred on its proposed Prairie Connector line, which would use some existing infrastructure from the cancelled Keystone XL project, to deliver oil to refineries and export terminals on the U.S. Gulf Coast.At the Canada-U.S. border, Prairie Connector could link up with a pipeline headed by Bridger Pipeline LLC, called Liberty Bridge.Bevin Wirzba, South Bow’s chief executive, told analysts the company’s “defining” achievement for the quarter was the successful open season — a call for long-term contracts with producers — for its Prairie Connector.“Securing 465,000 barrels a day of 20-year customer commitments from a broad producer group was a significant milestone,” Wirzba said.He added that it represents a strong endorsement from their customers and may serve to enable larger-scale production growth in Canada.South Bow says it aims to reach a final investment decision by mid-2027; however, a permit for Prairie Connector is still needed for the project to move forward. Bridger’s proposal received a permit from U.S. President Donald Trump in April.Keyera’s growth strategy is further along, with the company closing a $5.3-billion acquisition of Plains All American Pipeline L.P.’s Canadian natural gas liquids business in May. Keyera CEO Dean Setoguchi at the company’s new office in Calgary on February 24, 2026. Darren Makowichuk/Postmedia fileIt also purchased the rest of the Key Access Pipeline System in June. The pipeline, referred to as KAPS, is a 575-kilometre natural gas liquids and condensate system in northern Alberta.“We see a ton of opportunity that’s going to carry our growth well beyond 2029,” Dean Setoguchi, Keyera’s chief executive, said on a conference call. “So we’re very excited.”Still, Keyera’s big acquisition is being challenged by the Competition Bureau, which says the takeover would reduce competition at the country’s “most important” natural gas liquids hub in Fort Saskatchewan, Alta. A competition tribunal will determine next steps and timelines, though the regulatory proceedings did not prevent the transaction from closing.Keyera disagrees with the bureau, maintaining that its acquisition will “strengthen” competition while providing customers with better access to key markets.Keyera’s profits more than doubled in the spring, to $308 million, compared to $127 million last year.Meanwhile, South Bow’s profits for the spring quarter rose to US$134 million, nearly 40 per cent higher than the same period last year. The company reports its financial results in U.S. dollars.FP West: Energy Insider brings you behind the closed doors of the oilpatch, with exclusive insights from insiders every Wednesday morning. Sign up now. Join the Conversation This website uses cookies to personalize your content (including ads), and allows us to analyze our traffic. Read more about cookies here. By continuing to use our site, you agree to our Terms of Use and Privacy Policy.