Keyera Announces Closing of Additional Ownership Interest Acquisition in Alder Flats Gas Plant


CALGARY, Aug. 9, 2016 - Keyera Corp. (TSX:KEY) ("Keyera") announced today that it has closed its previously announced acquisition of an additional 35% ownership interest from Bellatrix Exploration Ltd. ("Bellatrix") in the O'Chiese Nees-Ohpawganu'ck gas plant ("Alder Flats") and the associated gathering pipelines (collectively the "Facilities"). Total consideration for the acquisition was $112.5 million, which included the additional working interest in the Facilities, a 10-year take-or-pay commitment, an area dedication agreement and a prepayment of 35% of the estimated future construction costs of Phase 2 of Alder Flats.



Keyera now owns 70% of the Facilities while Bellatrix continues to operate the Facilities. Currently, Alder Flats has a licenced capacity of 110 million cubic feet per day. Phase 2 is expected to have a design inlet capacity of 120 million cubic feet per day and a target on-stream date in the first half of 2018. Bellatrix remains responsible for constructing Phase 2 and funding 60% of the costs.



About Keyera



Keyera Corp. (TSX:KEY) operates one of the largest midstream energy companies in Canada, providing essential services to oil and gas producers in the Western Canada Sedimentary Basin. Its predominantly fee-for-service based business consists of natural gas gathering and processing, natural gas liquids processing, transportation, storage, marketing, iso-octane production and sales, and an industry-leading condensate system in the Edmonton/Fort Saskatchewan area of Alberta. Keyera strives to provide high quality, value-added services to its customers across North America and is committed to conducting its business ethically, safely and in an environmentally and financially responsible manner.



SOURCE Keyera Corp.



CONTACT: about Keyera, please visit our website at www.keyera.com or contact:



Keyera Corp.,

Lavonne Zdunich,

Director, Investor Relations,

or

Nick Kuzyk,

Manager,

Investor Relations,

Email: ir@keyera.com;

Telephone: 403.205.7670 / Toll Free: 888.699.4853



Web Site: www.keyera.com

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