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TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. HAS ENTERED INTO DEFINITIVE AGREEMENTS WITH PEMBINA PIPELINE CORPORATION AND CERTAIN OF ITS AFFILIATES TO ACQUIRE THE NORTH SEGMENT OF ITS WESTERN PIPELINE SYSTEM
TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. HAS ENTERED INTO DEFINITIVE AGREEMENTS WITH PEMBINA P...
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[{"type":"text","content":"\n\n\n\n TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. HAS ENTERED INTO DEFINITIVE AGREEMENTS WITH PEMBINA PIPELINE CORPORATION AND CERTAIN OF ITS AFFILIATES TO ACQUIRE THE NORTH SEGMENT OF ITS WESTERN PIPELINE SYSTEM\n \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\n\n Canada NewsWire\n \n\n\n\n\n (TSX: TWM)\n \n\n\n\n\n CALGARY, AB\n \n\n ,\n \n\n May 6, 2025\n \n\n /CNW/ - Tidewater Midstream and Infrastructure Ltd. (\"Tidewater\" or the \"Corporation\") (TSX: TWM) is pleased to announce that it has entered into definitive agreements with Pembina Pipeline Corporation and certain of its affiliates (collectively, \"Pembina\"), through a wholly owned limited partnership, to acquire the North Segment of Pembina's Western Pipeline System (the \"Western Pipeline\") for total cash consideration of approximately\n \n $1.2 million\n \n , as well as the assumption of certain future abandonment and reclamation obligations and liabilities estimated to be approximately\n \n $30.0 million\n \n (undiscounted value) (the \"Transaction\").\n \n\n\n\n\n\n\n\n\n The Western Pipeline is an approximately 377 km crude oil pipeline originating in\n \n Taylor, British Columbia\n \n and terminating in\n \n Prince George, British Columbia\n \n . The Western Pipeline's connection at\n \n Taylor, British Columbia\n \n is the key conduit tying the Prince George Refinery (\"PGR\") into the northeastern\n \n British Columbia\n \n crude supply region. As part of the Transaction, Tidewater and Pembina will enter into an interconnection agreement upon closing which will allow Tidewater to continue to access existing crude sources at the terminal located in\n \n Taylor, British Columbia\n \n (the \"Taylor Terminal\") for the next 25 years, which is expected to provide PGR with a reliable and cost-effective source of feedstock. The Transaction is anticipated to yield material run-rate cost improvements, compared to historical metrics, while further enhancing Tidewater's ability to optimize its feedstock procurement at the PGR.\n \n\n \"We are excited to announce the agreem...