(TSX: TWM)
CALGARY, AB, July 3, 2025 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM) is pleased to announce that it has entered into a definitive agreement with Parallax Energy Operating Inc. ("Parallax") for the sale of its Sylvan Lake gas plant and associated gas gathering infrastructure (collectively, the "Sylvan Lake Gas Processing Facility") for total proceeds of approximately $5.5 million, subject to customary adjustments (the "Transaction"). The Sylvan Lake Gas Processing Facility is a non-core asset of Tidewater located in central Alberta. The Transaction is expected to have an immaterial impact to Tidewater's 2025 operating results, and the proceeds received therefrom are anticipated to be used to repay amounts outstanding on the Corporation's senior credit facility.
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