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Tidewater Midstream and Infrastructure Ltd T.TWM

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

Energy Oil & Gas Refining & Marketing
Tidewater Midstream and Infrastructure Ltd. is a diversified midstream and infrastructure company with an integrated value chain across North American natural gas, natural gas liquids (NGLs), crude oil, refined product, and renewable energy markets. The Company's operations include downstream facilities, natural gas processing facilities, NGLs infrastructure, pipelines, storage, and various renewable initiatives. It also markets crude, refined products, natural gas, NGLs and renewable products and services to customers across North America. Its key midstream assets include the Brazeau River Complex and Fractionation Facility (BRC), a full-service natural gas and NGL processing facility with natural gas storage pools, and the Ram River Gas Plant, a sour natural gas processing facility with sulfur handling solutions and rail connections. Its key downstream asset is the Prince George Refinery (PGR), the sole light oil refinery within the interior British Columbia market.


TSX:TWM - Post by User

Tidewater Midstream and Infrastructure Ltd
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Comment by TVRon Feb 07, 2020 11:01am
83 Views
Post# 30658021

RE:RE:RE:RE:RE:December st13

RE:RE:RE:RE:RE:December st13
robbie- interesting insight on PGR.  Where do you find this information? - is it published somewhere?,a contact at the refinery?, or ??

Also, you mention the crack spread is very nice.  Do you know a published source for the crack spread number (PGR, Vancouver, Edmonton, western Canada?).  I have been trying to find a published source that regualrly reports crack spread numbers, but have not been able to loacate anything.

Page 25 of TWM January presentation indicates a 2-1-1 crack spread for PGR of $44 to generate annual EBITDA of $75 million, but hints at $60-$65 as possible (blue bar with source identified as Husky forecast based on foreward pricing)?  These appear to be calculated from Bloomberg numbers (paid account required to access data?) for US crack spreads according to notes on presentation pages. 

Is a $60+ crack spread possible/realistic for PGR?  Can TWM hedge to lock-in the high crack spread?  Is this normal refinery practice?

Thanks for any insight you can provide.
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