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.
$375 million initial public offering of Class A limited partnership units
1997
Begin trading on the Toronto Stock Exchange
1997
Conventional oil throughput volumes exceed 310,000 b/d
1998
20,000 b/d capacity expansion on the Bow River pipeline system
1998
Number of employees: 200
1998
$10 million completed in capital projects
1999
Bow River pipeline system reconfigured to expand deliveries to Montana
1999
Acquired 15% interest in the Cold lake pipeline system for $50 million
2000
Initial entry into the oil sands transportation sector
2000
Annualized cash distributions increased to $0.68 per unit
2000
$23 million completed in capital projects
2001
25,000 b/d capacity increase for southbound shipments on the Bow River pipeline system
2001
$246 million secondary offering of Class A limited partnership units
2002
General Partner sold to Pipeline Assets Corp.
2002
Limited Partnership renamed Inter Pipeline Fund
2002
Acquired an additional 70% interest in the Cold Lake pipeline system for $425 million
2003
Enterprise value reached $1 billion
2003
Annualized cash distributions increased to $0.72 per unit
2003
Acquired NGL extraction assets for $715 million
2004
Initial entry into the natural gas processing sector
2004
Annualized cash distributions increased to $0.75 per unit
2004
Acquired Simon Storage Limited in the UK for $250 million
2005
Created first international business segment
2005
Annualized cash distributions increased to $0.78 per unit
2005
Acquired bulk liquid storage assets in Germany for $38 million
2006
Annual revenues surpass $1 billion
2006
Annualized cash distributions increased to $0.84 per unit
2006
Acquired Corridor pipeline system for $1.1 billion
2007
Completed $364 million in organic growth projects
2007
Enterprise value reached $4 billion
2007
Number of employees: 742
2007
Growth capital expenditures of over $600 million
2008
Major expansion projects underway for the Corridor pipeline system
2008
Total pipeline throughput volumes averaged 753,400 b/d
2008
Funds from operations of $294 million
2009
Bulk liquid storage capacity utilization rate of 96%
2009
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
Annualized cash distributions increased to $0.91 per unit
2010
Total pipeline throughput volumes averaged 802,100 b/d
2010
Funds from operations of $394 million
2011
Total pipeline throughput volumes averaged 956,200 b/d
2011
Announced $459 million acquisition of storage terminals in Denmark, more than doubling storage capacity to 19 million barrels.
2011
Funds from operations of $423 million
2012
Announced a multi-billion dollar oil sands development program for Cold Lake and Polaris pipeline systems
2012
Processed in excess of 2.6 billion cubic feet of natural gas per day at the NGL extraction facilities
2012
Completed conversion from a limited partnership structure to a dividend paying corporation; changed name to Inter Pipeline Ltd.
2013
Funds from operations of $473 million
2013
Annualized dividend rate of $1.29 per share
2013
Announced $100 million expansion of the Mid-Saskatchewan pipeline system
2014
Total pipeline throughput volumes averaged 1,118,100 b/d
2014
Annualized dividend rate of $1.32 per share
2014
Acquired bulk liquid storage terminals in Sweden, increasing storage capacity to 27 million barrels
2015
Funds from operations of $774 million
2015
Cash dividends rise to $1.49 per share
2015
Funds from operations of $849 million
2016
Acquired a large scale Canadian natural gas liquids midstream business for $1.35 billion
2016
Total pipeline volumes averaged 1,296,600 b/d
2016
Acquired remaining 15% interest in the Cold Lake pipeline system for $528 million
2016
Number of employees: 1136
2016
