Pipestone Energy Corp. Announces Unplanned Outage at the Keyera Wapiti Gas Plant

CALGARY, Alberta – (PIPE – TSX-V) Pipestone Energy Corp. (“Pipestone Energy” or the “Company”) was notified by Keyera Corp. (“Keyera”) on March 16, 2020 of an unplanned outage related to the amine train at the Keyera Wapiti Plant (“Keyera Plant”). As of this press release, Keyera expects to have the plant issue repaired and resume operations by March 28, 2020. Recently, Pipestone Energy has produced up to 25 MMcf/d of raw natural gas and associated liquids volumes through the Tidewater Midstream and Infrastructure Ltd. (“Tidewater”) Pipestone Gas Plant. Based on the expected outage duration and flexibility to produce through the Tidewater Pipestone Gas Plant, the Company is reaffirming its revised 2020 annual production guidance of 17,000 – 18,000 boe/d, released on March 12, 2020.

Pipestone Energy Corp.

Pipestone Energy Corp. is an oil and gas exploration and production company with its head office located in Calgary, Alberta. The company is focused on developing its pure-play condensate-rich Montney asset in the Pipestone area near Grande Prairie, Alberta. Pipestone Energy is committed to building long term value for our shareholders and values the partnerships that it is developing within its operating community. Pipestone Energy shares trade under the symbol PIPE on the TSX Venture Exchange. For more information, visit www.pipestonecorp.com.