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Tidewater Midstream and Infrastructure Ltd T.TWM

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

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

Comment by fauxtomatoon Jun 01, 2021 9:20am
210 Views
Post# 33302107

RE:RE:Could TWM be a takeover target?

RE:RE:Could TWM be a takeover target?The PPL/IPL merger today I think says a lot about what TWM isn't: integrated, at scale and unique. Every piece of the current patchwork that is TWM could have been bought by someone else: PGR, BRC, Ram were all purchased individually and competitively.

I think with PGR a private equity take over could make sense, or a partnership with an infrastructure fund. TPZ taking an interest in the Pipestone plant to fund the expansion absolutely makes sense given the improving credit quality of the producers there. As they reduce debt and increase DCF/share they can start self funding some of their own strategic capital plans. I think this started as a 'build something to flip' idea but I think it's more likely now that they go it alone for a while longer.

I think for anything to happen the smoke has to clear around Pioneer and renewable diesel, for better or worse that should be soon.
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