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TIDEWATER MIDSTREAM AND INFRASTRUCTURE LTD. ANNOUNCES THE CLOSING OF ITS SALE OF THE SYLVAN LAKE GAS PROCESSING FACILITY TO PARALLAX ENERGY OPERATING INC.

Newswire.ca - Tue Oct 21, 2025

(TSX: TWM)

CALGARY, AB, Oct. 21, 2025 /CNW/ - Tidewater Midstream and Infrastructure Ltd. ("Tidewater" or the "Corporation") (TSX: TWM) is pleased to announce the successful closing of the previously announced sale of its Sylvan Lake gas plant and associated gas gathering infrastructure (collectively, the "Sylvan Lake Gas Processing Facility") to Parallax Energy Operating Inc. for total proceeds of $5.5 million in cash, subject to customary adjustments (the "Transaction"). The Sylvan Lake Gas Processing Facility is a non-core asset of Tidewater and the Transaction is expected to have an immaterial impact to Tidewater's 2025 operating results. The proceeds from the Transaction will be used to repay amounts outstanding on the Corporation's Senior Credit Facility.

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