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TMX   TWM 0.87 -0.02

Tidewater Midstream and Infrastructure Ltd.

Gathering & Processing, Refining & Fractionation, Transportation, Marketing, Storage

Business Overview

Tidewater is a Canadian integrated midstream and infrastructure company headquartered in Calgary, Alberta. We are in the business of:

Tidewater is well positioned in some of the most active formations of North America, including the Montney and Duvernay. Our main operations and core processing plants are located in the Deep Basin, Edmonton and Montney regions of Alberta & British Columbia. Tidewater's strategically positioned assets transport and market hydro-carbons to local and global markets.

Our Role in the Energy Value Chain

We’ve acquired our assets and grown rapidly, having first incorporated in 2015. Our breadth of business offerings through our processing plants, transportation and storage, and marketing services, connects us with customers and other stakeholders along the entire energy value chain.


Our strategy has been to grow and acquire along the value chain through natural gas processing, liquids upgrading, transportation and storage. We also market hydrocarbon derivatives which are valuable inputs into the end-products and services used daily by Canadians/North Americans.

While pursuing our vision and values, Tidewater maintains its conservative financial structure as well as a quarterly dividend. When selecting capital projects and acquisition targets, we closely consider the macro trends affecting the business and the needs of existing and new customers. The company trades under the symbol TWM on the TSX.

Our History



April 15, 2015

  • IPO offering of 3,000,000 shares at $1.00/share.


Joel Macleod appointed as President and CEO

April 20, 2015

  • Appoints Joel A. MacLeod as President and CEO of the corporation.


Primary acquisition of the Brazeau River Complex

June 2, 2015

  • Enters agreement with private Vendors to acquire 63% of the Brazeau River Complex (“BRC”) for $180 MM.


Acquisition of BRC Pipelines

Sept. 2, 2015

  • Acquired 80% WI in 7.1 km pipeline in connected to the TWM BRC for $8.4MM and an extension of the producers take-or-pay contract at BRC with 50 MMcf/d obligation.


1st Montney Acquisition

Oct. 15, 2015

Entered an agreement to acquire a variety of processing interests (operated & non-op) in the Northwest Alberta Area


Edmonton Extraction Plants Acquisition

Jan. 4, 2016

Entered an agreement with a Vendor and acquired 100% WI in 3 deep cut gas processing/NGL extraction facilities with total capacity of 142 Mmcf/d of processing/NGL extraction capability, plus a 100% WI in approx. 250 of related pipeline networks and infrastructure including land and rail access at Fort Saskatchewan for cash consideration


AltaGas Acquisition

Feb. 2, 2016

Entered agreement with AltaGas Ltd. to acquire 100% WI in select deep basin and central Alberta gas processing facilities and related infrastructure. Majority is in TWM’s back yard (west Pembina region) for issuance of 43.7 MM Tidewater common shares and $30 MM cash.


Acheson Acquisition

Aug. 15, 2016

Agreement to acquire 100% WI in the Acheson deep cut gas processing plant with capacity of 33 MMcf/d, 250 KM of related pipeline networks and 600 acres of heavy industrial land in Edmonton for total consideration of $11 MM. Land was appraised at $50 MM in 2008, with land adjacent to CN Rail and Trans Mountain Pipeline right of way residing on the land


BRC Pipeline and Storage Acquisition

Nov. 16, 2016

Entered agreement with a Vendor to acquire an approx. 50% WI in 150 KM of gas gathering pipelines which are directly connected to TWMs BRC and 3 proven natural gas storage reservoirs that are also connected to the BRC.


Remaining Interest of BRC Acquisition

Dec. 19, 2016

Acquired the remaining WI in BRC and the remaining WI in 105 KM of gas gathering pipelines connected to the BRC for $30MM cash.


Commissioning of Acheson Rail Facility

May 1, 2017

  • 120 car rail loading facility in heavy industrial TWM land west of Edmonton.
  • CN Mainline Connected
  • On adjacent land to TWM’s Deep Cut Acheson Gas Plant


BRC FRAC Commissioned

May 15, 2017

  • Commissioned its 10,000 bbl/s C2+ frac facility at the BRC and began producing HD2 spec propane, approx. 45 days ahead of schedule (finished in less than 7 months) and on budget.


Ram River and Montney Acquisition

Aug. 15, 2017

1. Deep Basin and Montney Acquisition

2. Wapiti Pipeline Acquisition

  • 50% operated WI in 200 KM of 12-inch pipeline for $20 MM cash consideration.


Crude Oil Non-Compete Commences

Sept. 1, 2018

  • A previous entity’s sale that restricted certain Tidewater executives from marketing crude oil was lifted.
  • Tidewater begins to market crude oil products via existing rail infrastructure and a variety of 3rd party pipelines.


Pipestone Gas Plant Regulatory Approval

Oct. 18, 2018

  • TWM receives regulatory approval for Pipestone Gas Plant.
  • 100 MMcf/d sour, deep-cut Montney gas plant with acid gas injection and 20,00 bbls/d of NGL processing capability, as well as an extensive gathering pipeline network in the Pipestone area near Grand Prairie, AB.
  • The Project is supported by agreements with 2 anchor tenant customers and addtional committed volumes.


Pioneer Pipeline Regulatory Approval

Oct. 30, 2018

  • Tidewater receives regulatory approval to construct and operate a sales gas pipeline from the BRC to TransAlta’s Sundance and Keephills generating stations known as the “Pioneer Pipeline”
    • Capacity of 130 MMcf/d by 2020
    • Future expansion potential of 340 MMcf/d
    • 15-year TOP


Pioneer Pipeline Commissioned

May 1, 2019

Tidewater is pleased to announce that the Tidewater operated Pioneer Pipeline, connecting Tidewater’s Brazeau River Complex (“BRC”) gas plant to TransAlta’s generating units at Keephills and Sundance, transported first gas in late May 2019, approximately four months ahead of schedule.


Pipestone Gas Plant Commissioned

Sept. 23, 2019

The Pipestone Gas Plant began processing sour gas on September 15, 2019 and is currently processing approximately 30 MMcf/day of sour gas during this start-up phase. Tidewater expects processing to ramp up to at or near full capacity of 100MMcf/day by the end of the year.


Tidewater Announces the Acquisition of the Prince George Refinery

Oct. 4, 2019

The Acquisition is expected to close in the fourth quarter of 2019 and is effective upon closing.


Tidewater was incorporated on February 4, 2015. Since our IPO in April 2015, we have focused on selective acquisitions, organic growth projects and optimizing operations at existing facilities. In this time, we have increased our Credit Facility, and completed three equity offerings and the private placement of senior unsecured debt.