CALGARY, Oct. 18, 2018 /CNW/ – Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Corporation“) announces today that it received approval from the Alberta Energy Regulator to construct and operate the previously announced Pipestone Montney, Sour Deep-Cut Gas Processing Complex (the “Pipestone Plant“). The Pipestone Plant will be situated in the Pipestone area near Grande Prairie, Alberta and is designed to process approximately 100 MMcf/d of natural gas.
“Tidewater is pleased to receive regulatory approval for this plant which will benefit producers in the prolific Montney play,” said Toby McKenna, Vice President, Business Development and Commercial of Tidewater. “We are well positioned to construct the Pipestone Plant in order to meet an in-service date of mid-2019.”
The Corporation’s Business
Tidewater is traded on the TSX under the symbol “TWM”. Tidewater’s business objective is to build a diversified midstream and infrastructure company in the North American natural gas and natural gas liquids (“NGL”) space. Its strategy is to profitably grow and create shareholder value through the acquisition and development of oil and gas infrastructure. Tidewater plans to achieve its business objective by providing customers with a full service, vertically integrated value chain through the acquisition and development of oil and gas infrastructure including: gas plants, pipelines, railcars, trucks, export terminals and storage facilities.