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Bullboard - Stock Discussion Forum 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... see more

TSX:TWM - Post Discussion

Tidewater Midstream and Infrastructure Ltd > HFC acquisition of Puget Sound Refinery
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Post by fauxtomato on May 05, 2021 7:53pm

HFC acquisition of Puget Sound Refinery

https://s25.q4cdn.com/488560379/files/doc_presentations/2021/Management-Presentation_FINAL_Amended.pdf

US$350M purchase, 150 mbpd, projected $150M in annual EBITDA. Sourcing Canadian crude through TMP and Alaskan crude on the water.

What was interesting though is the breakdown at the end of the presentation of annual EBITDA to FCF after turnaround and maintenance capex
Comment by AntoninScalia on May 06, 2021 1:16pm
Cheaper multiple than PGR acquisition! Even though PGR has 4x higher crack spreads the profitability margins are similar. Shows how inefficient a small refinery is.