Bullboard - Stock Discussion Forum Tidewater Midstream and Infrastructure Ltd T.TWM.DB.A

Primary Symbol: T.TWM Alternate Symbol(s): TWMIF | T.TWM.DB | T.TWM.WT

Energy Oil & Gas Midstream

Tidewater Midstream and Infrastructure Ltd. is a diversified energy infrastructure company that is focused on natural gas processing, fractionation, liquids upgrading, storage and transportation, and marketing. The Company’s operations include downstream facilities, natural gas processing facilities, natural gas liquids infrastructure, pipelines, storage, and various renewable initiatives. Its... see more

Add To Watchlist

TSX:TWM - Post Discussion

Tidewater Midstream and Infrastructure Ltd > Value of TWM's Brazeau River Gas Processing Plant

View:

Post by TVR on Jul 02, 2024 11:16pm

Value of TWM's Brazeau River Gas Processing Plant

Based on the values reported today in Whitecaps's sale of interests in its gas processing facilities to Topas and Pembina it looks like TWM's Brazeau River Gas Processing Plant could have a sale value in the range of $400 million. Brazeau is 180mmcf/d gas processing capability + 10,000 bpd NGL fractionation capacity. Whitecap got $100 million for 50% of Musreau (43mmcf/d+ 12,500 bpd liquids capacity. The secpnd deal for the Kaybob complex with 165mmcf/d + 15,000 bpd condensate capacity was more complicated because it included Pembina funding a new facility. Brazeau is not opertaing at capaacity, but is averaging 70% to 80% capacity so not too bad.

Since TWM's current martket cap is only around $250 million it looks like selling off their assets (Brazeau, Prince George Refinery + Renewables business) could bring in 4 to 5 times the current market cap or 4 times after eliminating all current debt. Time for a sale process?

107