Keyera (TSX: KEY) is one of the largest midstream oil and gas operators in Canada. The company services oil and gas producers in Western Canada and transports natural gas liquids such as propane, ethane, butane, condensate and iso-octane to markets throughout North America. Keyera operates within the midstream sector of the industry meaning that it isn't focused on the production or refining of petroleum. Instead, Keyera serves customers by providing them with the means to store and transport various oil, gas and NGL products.
Most of Keyera’s facilities are located in western Canada west of the fifth meridian in the Western Canadian Sedimentary Basin where natural gas is rich with valuable liquids products.
Keyera’s has two integrated business lines: the Gathering and Processing business unit which in 2014 accounted for 33% of the company’s operating margin, and the NGL Infrastructure and Marketing business lines, which in 2014 accounted for 28% and 35% of the company’s operating margin.