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TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES THE CLOSING OF ITS SALE OF THE SYLVAN LAKE GAS PROCESSING FACILITY TO PARALLAX ENERGY OPERATING INC.
TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES THE CLOSING OF ITS SALE OF THE SYLVAN LAKE ...
About this update from Tidewater Midstream & Infrastructure Ltd.
[{"type":"text","content":"\n\n\nTIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES THE CLOSING OF ITS SALE OF THE SYLVAN LAKE GAS PROCESSING FACILITY TO PARALLAX ENERGY OPERATING INC.\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntar{\nTEXT-ALIGN: RIGHT\n}\n\n\n\n\n\nCanada NewsWire\n\n\n(TSX: TWM)\nCALGARY, AB, Oct. 21, 2025 /CNW/ - Tidewater Midstream and Infrastructure Ltd. (\"Tidewater\" or the \"Corporation\") (TSX: TWM) is pleased to announce the successful closing of the previously announced sale of its Sylvan Lake gas plant and associated gas gathering infrastructure (collectively, the \"Sylvan Lake Gas Processing Facility\") to Parallax Energy Operating Inc. for total proceeds of $5.5 million in cash, subject to customary adjustments (the \"Transaction\"). The Sylvan Lake Gas Processing Facility is a non-core asset of Tidewater and the Transaction is expected to have an immaterial impact to Tidewater's 2025 operating results. The proceeds from the Transaction will be used to repay amounts outstanding on the Corporation's Senior Credit Facility.\n\n\n\n\n\n\n\nABOUT TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD.\nTidewater is traded on the TSX under the symbol \"TWM\". Tidewater's business objective is to profitably grow and create shareholder value in the North American natural gas, natural gas liquids, crude oil, refined product, and renewable energy value chain. Its operations include downstream facilities, natural gas processing facilities, natural gas liquids infrastructure, pipelines, storage, and various renewable initiatives. To complement its infrastructure asset base, the Corporation also markets crude, refined product, natural gas, natural gas liquids and renewable products and services to customers across North America. Tidewater is a majority shareholder of Tidewater Renewables. Additional information relating to Tidewater is available on SEDAR+ at www.sedarplus.ca and at https://www.tidewatermidstream.com.\nCAUTION REGARDING FORWARD-LOOKING STATEMENTS\nThis news release contains forward-looking statements. The use of any of the words \"anticipate\", \"continue\", \"estimate\"...