Tidewater selling Sylvan Lake gas processing facility to Parallax for $5.5M

Bloomberg

03 Jul

CALGARY — Tidewater Midstream and Infrastructure Ltd. has signed a deal to sell its Sylvan Lake gas processing facility to Parallax Energy Operating Inc. for $5.5 million.

The company says the facility is a non-core asset located in central Alberta.

Proceeds from the sale are expected to be used to repay debt.

Tidewater chief executive Jeremy Baines says the sale represents another milestone for the company as it looks to optimize its asset portfolio and improve financial flexibility.

The sale is expected to have an immaterial impact on Tidewater’s 2025 operating results.

The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions and regulatory approvals.

This report by The Canadian Press was first published July 3, 2025.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Most Discussed

{"basename":"","ssrTDKData":{"titleTemplate":"%s - Tiger Brokers","title":"Tiger Brokers | Global Stocks, Options & Futures Trading App","description":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","keywords":"tiger brokers,tiger trade,tiger brokers singapore,broker online,stock trading in singapore,share trading singapore,brokerage firm singapore,trading app,stock broker singapore,stock trading platforms,trading account","social":{"ogDescription":"Tiger Brokers, one-stop investment in US stocks, SGX stocks, HK stocks, A-shares & other global assets. One of the best stock trading platforms in Singapore.","ogImage":"https://c1.itigergrowtha.com/portal5/static/media/og-logo.be62fbe1.png","ogUrl":"https://www.itiger.com/news/2548735801"},"companyName":"Tiger Brokers"},"pageData":{"isMobile":false,"isTiger":false,"isTTM":true,"region":"SGP","license":"TBSG","edition":"fundamental"},"__swrFallback__":{"@#url:\"https://stock-news.skytigris.cn/v3/news\",params:#id:\"2548735801\",edition:\"fundamental\",,,undefined,":{"share":"https://ttm.financial/m/news/2548735801?lang=en_US&edition=fundamental","thumbnail":"https://cloudfront-us-east-1.images.arcpublishing.com/bellmediainc/V7VJQKYKXTVKLWRRFRMVH2N66Y.jpg","is_english":true,"pubTime":"2025-07-03 20:04","share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","id":"2548735801","market":"nz","top_or_hot":-1,"title":"Tidewater selling Sylvan Lake gas processing facility to Parallax for $5.5M","media":"Bloomberg","content":"<html><body><article><p>CALGARY — <a href=\"https://laohu8.com/S/TDW\">Tidewater</a> Midstream and Infrastructure Ltd. has signed a deal to sell its Sylvan Lake gas processing facility to Parallax Energy Operating Inc. for $5.5 million.</p><p>The company says the facility is a non-core asset located in central Alberta.</p><p>Proceeds from the sale are expected to be used to repay debt.</p><p>Tidewater chief executive Jeremy Baines says the sale represents another milestone for the company as it looks to optimize its asset portfolio and improve financial flexibility.</p><p>The sale is expected to have an immaterial impact on Tidewater’s 2025 operating results.</p><p>The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions and regulatory approvals.</p><p>This report by The Canadian Press was first published July 3, 2025.</p></article></body></html>","source":"bnn_bloomberg_highlight","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tidewater selling Sylvan Lake gas processing facility to Parallax for $5.5M</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTidewater selling Sylvan Lake gas processing facility to Parallax for $5.5M\n</h2>\n\n<h4 class=\"meta\">\n\n\n2025-07-03 20:04 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bnnbloomberg.ca/business/2025/07/03/tidewater-selling-sylvan-lake-gas-processing-facility-to-parallax-for-55m/><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>CALGARY — Tidewater Midstream and Infrastructure Ltd. has signed a deal to sell its Sylvan Lake gas processing facility to Parallax Energy Operating Inc. for $5.5 million.The company says the facility...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/business/2025/07/03/tidewater-selling-sylvan-lake-gas-processing-facility-to-parallax-for-55m/\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"TDW.WS","symbol_name":"TIDEWATER INC NEW C/WTS 24/11/2024 (TO PUR COM)","start_time":0,"source_url":"https://www.bnnbloomberg.ca/business/2025/07/03/tidewater-selling-sylvan-lake-gas-processing-facility-to-parallax-for-55m/","article_id":"2548735801","we_media_id":null,"thumbnails":["https://cloudfront-us-east-1.images.arcpublishing.com/bellmediainc/V7VJQKYKXTVKLWRRFRMVH2N66Y.jpg"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2548735801","pubTimestamp":1751544290,"columns":[],"sourceInfo":{"source_id":"bnn_bloomberg_highlight","name":"Bloomberg"},"weMediaInfo":null,"summary":"Tidewater Midstream and Infrastructure Ltd. has signed a deal to sell its Sylvan Lake gas processing facility to Parallax Energy Operating Inc. for $5.5 million.","collect":0,"end_time":0,"defaultTopTitle":"bnnbloomberg.ca","property":[],"viewcount":null,"language":"en","relate_stocks":{"TDW.WS":"TIDEWATER INC NEW C/WTS 24/11/2024 (TO PUR COM)","BK4179":"石油天然气设备与服务","TDW":"潮水公司"},"translate_title":"Tidewater以550万美元将Sylvan Lake天然气处理设施出售给Parallax","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"TDW":1,"TDW.WS":1},"content_text":"CALGARY — Tidewater Midstream and Infrastructure Ltd. has signed a deal to sell its Sylvan Lake gas processing facility to Parallax Energy Operating Inc. for $5.5 million.The company says the facility is a non-core asset located in central Alberta.Proceeds from the sale are expected to be used to repay debt.Tidewater chief executive Jeremy Baines says the sale represents another milestone for the company as it looks to optimize its asset portfolio and improve financial flexibility.The sale is expected to have an immaterial impact on Tidewater’s 2025 operating results.The transaction is expected to close in the third quarter of 2025, subject to customary closing conditions and regulatory approvals.This report by The Canadian Press was first published July 3, 2025.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"corporation","news_rank":0,"symbols":[],"gpt_button":1,"code":"91000000","status":"200"}}}