CALGARY, AB, July 8, 2020 /CNW/ –

Shareholder Meeting Results

Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation”) (TSX: TWM) is pleased to announce that at the annual general and special meeting held in Calgary, Alberta on June 29, 2020 (the “Meeting”) holders of common shares of Tidewater: (i) elected Joel MacLeod, Stephen Holyoake, Douglas Fraser, Margaret A. (Greta) Raymond, Robert Colcleugh, ‎Michael Salamon and Neil McCarron‎ to the Board of Directors; (ii) re-appointed Deloitte LLP, as Tidewater’s auditors; (iii) approved the unallocated options under the Corporation’s stock option plan; and (iv) passed … Continue Reading

CALGARY, AB, June 18, 2020 /CNW/ –

Pioneer Pipeline Disposition – Definitive Agreement

Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that, with its partner TransAlta Corporation (“TransAlta“), it has entered into a definitive Purchase and Sale Agreement with respect to the previously announced sale of the Pioneer Pipeline to NOVA Gas Transmission Ltd., a wholly-owned subsidiary of TC Energy, for total cash consideration of $255.0 million (the “Pioneer Transaction“). The Pioneer Pipeline is a 20 inch, 120km pipeline connecting Tidewater’s Brazeau River Complex to TransAlta’s generating units at Keephills along with … Continue Reading

CALGARY, May 14, 2020 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A“) for the three-month period ended March 31, 2020.

FIRST-QUARTER 2020 FINANCIAL PERFORMANCE

Highlights

Adjusted EBITDA increased by $19.1 million to $41.5 million in the first quarter of 2020 as compared to $22.4 million in the first quarter of 2019, resulting in over 85% growth as a result of the acquisition of the Prince George Refinery (“PGR”) and the commissioning of the

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CALGARY, April 17, 2020 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) provides updated 2020 guidance, operational update and impacts from the COVID-19 pandemic.

As the situation with the COVID-19 pandemic continues to evolve, Tidewater is taking proactive and preventative measures to protect the health and safety of our workforce and do our part to limit the spread of COVID-19 in the community. The Corporation remains confident in our in-depth business continuity plans and our ability to execute during these challenging times. Tidewater wishes to thank all our employees, contractors and the communities where … Continue Reading

CALGARY, March 12, 2020 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that it has filed its annual consolidated financial statements and Management’s Discussion and Analysis (“MD&A“) for the year ended December 31, 2019.

Recent Market Volatility

Tidewater takes the severe downturn in the energy industry very seriously and has been working extremely hard over the past three years to minimize its major risks with a clear focus on deleveraging after completing a successful 2019 capital program.  Low commodity prices, and more specifically, WTI crude oil prices below USD$40… Continue Reading

CALGARY, March 12, 2020 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that, with its partner TransAlta Corporation (“TransAlta”), has entered into a Letter of Intent to sell the Pioneer Pipeline to NOVA Gas Transmission Ltd. (“NGTL”), a wholly-owned subsidiary of TC Energy, for total cash consideration of $255.0 million (the “Pioneer Transaction”). Proceeds of the transaction will be split equally between Tidewater and TransAlta pursuant to their existing Pioneer Pipeline partnership.

In addition, Tidewater and TransAlta have entered into a separate Letter of Intent whereby TransAlta will pay Tidewater … Continue Reading

CALGARY, Dec. 20, 2019 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX:TWM) is pleased to announce that its Board of Directors has declared a dividend for the fourth quarter 2019 of $0.01 per common share payable on or about January 31, 2020 to shareholders of record on December 31, 2019.  The ex-dividend date is December 30, 2019. This dividend is an eligible dividend for the purpose of the Income Tax Act (Canada).

About Tidewater

Tidewater is traded on the TSX under the symbol “TWM”. Tidewater’s business objective is to build a … Continue Reading

CALGARY, Nov. 13, 2019 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A“) for the three and nine-month period ended September 30, 2019.   

THIRD-QUARTER 2019 FINANCIAL PERFORMANCE

Recent Highlights

Tidewater generated strong Adjusted EBITDA in the third quarter of 2019 of $25.5 million or $0.08 per share, compared to $17.3 million or $0.05 per share in the third quarter of 2018.

Net income attributable to shareholders increased to $11.0 million or $0.03 per share

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CALGARY, Nov. 1, 2019 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater”) (TSX:TWM)‎ is pleased to announce that it has closed its previously announced acquisition of Husky Energy’s light oil refinery (“PGR“) located at Prince George, British Columbia (the “Acquisition“).  In conjunction with the Acquisition, Tidewater has also closed the previously announced: expansion of its credit facility from $350 million to $600 million; and, $100 million second lien term loan through ATB Financial, which loan is subordinated to the senior credit facility.

Third Quarter, 2019 Earnings Call

In conjunction with Tidewater’s third quarter 2019 earnings release, investors will … Continue Reading

/THIS RELEASE IS INTENDED FOR DISTRIBUTION OUTSIDE THE UNITED STATES ONLY AND IS NOT AUTHORIZED FOR DISTRIBUTION WITHIN THE UNITED STATES/

All financial figures are approximate and in Canadian dollars unless otherwise noted. This news release refers to adjusted earnings before interest, taxes, depreciation and amortization (“Adjusted EBITDA”), net debt and distributable cash flow, which are supplemental financial measures that do not have standardized meanings under generally accepted accounting principles (“GAAP”), and are therefore unlikely to be comparable to similar measures presented by other companies‎. For more information about these measures, please see “Non-GAAP Measures” below. 

CALGARY, Oct. … Continue Reading

CALGARY, Sept. 23, 2019 /CNW/ –

Pipestone Gas Plant Commissioning

Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that it completed commissioning and start-up of the Pipestone Montney, sour deep-cut gas processing complex (“Pipestone Gas Plant“).  The Pipestone Gas Plant is designed to process approximately 100 MMcf/day of sour gas and includes an acid gas injection well, salt water disposal well, and pipelines that directly connect to Tidewater’s Pipestone Gas Storage Facility.  Additionally, the Pipestone Gas Plant is connected to both the Alliance and TC Energy pipeline network.

The Pipestone Gas Plant … Continue Reading

CALGARY, Aug. 13, 2019 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) (TSX: TWM) is pleased to announce that it has filed its condensed interim consolidated financial statements and Management’s Discussion and Analysis (“MD&A“) for the three and six-month period ended June 30, 2019.   

SECOND-QUARTER 2019 FINANCIAL PERFORMANCE

Recent Highlights

Adjusted EBITDA for the second quarter of 2019 was $21.8 million or $0.07 per share, compared to $19.2 million or $0.06 per share for the second quarter of 2018.

Net loss attributable to shareholders was $4.1 million or $0.01 per share for the second quarter

… Continue Reading