In August of 2017, Tidewater Midstream and Infrastructure Ltd. issued a press release stating Strategic Acquisitions within Deep Basin and Montney Regions.
The piece goes on to say that "The Acquisitions create a strategic backbone pipeline network running from Narraway and Wapiti and interconnecting to Ansell, Brazeau, Stolberg and Ferrier providing connectivity between Tidewater’s core Montney and Deep Basin areas."
The present-day replacement value of the Acquisitions is greater than $900 million.
Key pieces of infrastructure include an 85% working interest in a rail connected 600 MMcf/day gas plant, 25% operated working interest in 400 MMcf/day and 200 MMcf/day dehydration and compression facilities at Stolberg and Brazeau and an operated working interest in greater than 600 km of pipelines.
Earlier this week, Tidewater Midstream confirmed that it will proceed with a new gas plant near Grande Prairie, Alta. with processing capacity that is tailored for the region’s liquids-rich Montney natural gas production.
The project has an estimated capital cost of approximately $210 million.
Located in the Pipestone area, the 100 MMcf/d sour gas plant will have acid gas injection and 20,000 bbls/d of NGL processing capability, as well as an extensive gathering pipeline network, the company says.
The company says the project is expected to have one of the highest operational onstream times in the area, regardless of regulated pipeline outages, due to storage access.
Operations are targeted to start up in mid-2019.
Tidewater is traded on the TSX Venture Exchange under the symbol “TWM.V”. Tidewater’s business objective is to build a diversified midstream and infrastructure company in the North American natural gas and natural gas liquids (“NGL”) space. Its strategy is to profitably grow and create shareholder value through the acquisition and development of oil and gas infrastructure. Tidewater plans to achieve its business objective by providing customers with a full service, vertically integrated value chain through the acquisition and development of oil and gas infrastructure including: gas plants, pipelines, railcars, trucks, export terminals and storage facilities.
Tidewater values its people more than anything else and our commitment to aligning corporate performance to individual performance is unparalleled. We are a fast growing company and are consistently looking for great people to join our amazing team. If a culture of hard work, responsiveness, and results-driven is what you are seeking, Tidewater just may be the right fit for you!
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