Our HistoryPrint Page

November 27, 2017 will mark the 20th anniversary of Inter Pipeline first becoming a publicly traded entity. Much has changed at the company in 20 years, including our lines of business, areas of operation, corporate structure and name.

The one constant during the past two decades has been our commitment to deliver disciplined growth, stability, operational excellence  and service. The past two decades have seen significant shifts within the energy industry with cycles of record high prices followed by periods of lower ones. Inter Pipeline has demonstrated an entrepreneurial spirit that has allowed us to grow our business in all cycles. We have a solid track record of stable growth and strong financial performance. 

Everything that Inter Pipeline has accomplished over the past 20 years has been due to the exceptional people that work for our company. We have been fortunate in always being able to attract people who have a high degree of dedication and a passion for the industry. Our people remain focused on the right things and work tirelessly to ensure we are positioned for success.

Now with an enterprise value of over $16 billion, we are able to look back on Inter Pipeline’s first 20 years with a sense of pride and accomplishment for what we have done, and we have never been more optimistic about our future.

We invite you to view the timeline below and reflect on our journey as we celebrate 20 years of business excellence. 

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$375 million initial public offering of Class A limited partnership units

1997
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Begin trading on the Toronto Stock Exchange

1997
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Conventional oil throughput volumes exceed 310,000 b/d

1998
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20,000 b/d capacity expansion on the Bow River pipeline system

1998
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Number of employees: 200

1998
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$10 million completed in capital projects

1999
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Bow River pipeline system reconfigured to expand deliveries to Montana

1999
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Acquired 15% interest in the Cold lake pipeline system for $50 million

2000
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Initial entry into the oil sands transportation sector

2000
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Annualized cash distributions increased to $0.68 per unit

2000
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$23 million completed in capital projects

2001
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25,000 b/d capacity increase for southbound shipments on the Bow River pipeline system

2001
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$246 million secondary offering of Class A limited partnership units

2002
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General Partner sold to Pipeline Assets Corp.

2002
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Limited Partnership renamed Inter Pipeline Fund

2002
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Acquired an additional 70% interest in the Cold Lake pipeline system for $425 million

2003
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Enterprise value reached $1 billion

2003
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Annualized cash distributions increased to $0.72 per unit

2003
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Acquired NGL extraction assets for $715 million

2004
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Initial entry into the natural gas processing sector

2004
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Annualized cash distributions increased to $0.75 per unit

2004
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Acquired Simon Storage Limited in the UK for $250 million

2005
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Created first international business segment

2005
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Annualized cash distributions increased to $0.78 per unit

2005
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Acquired bulk liquid storage assets in Germany for $38 million

2006
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Annual revenues surpass $1 billion

2006
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Annualized cash distributions increased to $0.84 per unit

2006
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Acquired Corridor pipeline system for $1.1 billion

2007
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Completed $364 million in organic growth projects

2007
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Enterprise value reached $4 billion

2007
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Number of employees: 742

2007
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Growth capital expenditures of over $600 million

2008
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Major expansion projects underway for the Corridor pipeline system

2008
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Total pipeline throughput volumes averaged 753,400 b/d

2008
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Funds from operations of $294 million

2009
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Bulk liquid storage capacity utilization rate of 96%

2009
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Entered into a long-term, 60,000 b/d diluent transportation contract for the Kearl oil sands project and began construction of the Polaris pipeline system

2009
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Annualized cash distributions increased to $0.91 per unit

2010
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Total pipeline throughput volumes averaged 802,100 b/d

2010
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Funds from operations of $394 million

2011
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Total pipeline throughput volumes averaged 956,200 b/d

2011
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Announced $459 million acquisition of storage terminals in Denmark, more than doubling storage capacity to 19 million barrels.

2011
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Funds from operations of $423 million

2012
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Announced a multi-billion dollar oil sands development program for Cold Lake and Polaris pipeline systems

2012
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Processed in excess of 2.6 billion cubic feet of natural gas per day at the NGL extraction facilities

2012
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Completed conversion from a limited partnership structure to a dividend paying corporation; changed name to Inter Pipeline Ltd.

2013
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Funds from operations of $473 million

2013
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Annualized dividend rate of $1.29 per share

2013
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Announced $100 million expansion of the Mid-Saskatchewan pipeline system

2014
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Total pipeline throughput volumes averaged 1,118,100 b/d

2014
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Annualized dividend rate of $1.32 per share

2014
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Acquired bulk liquid storage terminals in Sweden, increasing storage capacity to 27 million barrels

2015
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Funds from operations of $774 million

2015
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Cash dividends rise to $1.49 per share

2015
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Funds from operations of $849 million

2016
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Acquired a large scale Canadian natural gas liquids midstream business for $1.35 billion

2016
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Total pipeline volumes averaged 1,296,600 b/d

2016
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Acquired remaining 15% interest in the Cold Lake pipeline system for $528 million

2016
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Number of employees: 1136

2016
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20th anniversary as a publicly traded entity

2017