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.
Cautionary Notes
Advisory Regarding Forward-Looking
Statements
In the interest of providing Tidewater's shareholders and
potential investors with information regarding Tidewater, including
management's assessment of Tidewater's future plans and operations,
certain statements in this press release are "forward-looking
statements" within the meaning of the United States Private
Securities Litigation Reform Act of 1995 and "forward-looking
information" within the meaning of applicable Canadian securities
legislation (collectively, "forward-looking statements"). In some
cases, forward-looking statements can be identified by terminology
such as "anticipate", "believe", "continue", "could", "estimate",
"expect", "forecast", "intend", "may", "objective", "ongoing",
"outlook", "potential", "project", "plan", "should", "target",
"would", "will" or similar words suggesting future outcomes, events
or performance. The forward-looking statements contained in this
press release speak only as of the date thereof and are expressly
qualified by this cautionary statement.
Specifically, this news release contains forward-looking
statements relating to but not limited to: planned construction of
the Pipestone Plant and projected in-service date of the Pipestone
Plant
Such forward-looking statements of information are based
on a number of assumptions which may prove to be incorrect.
In addition to other assumptions identified in this document,
assumptions have been made regarding, among other things: general
economic and industry trends; the Corporation's ability to execute
on its business plan; and anticipated timelines and budgets being
met in respect of the Corporation's projects and
operations.
Actual results achieved will vary from the information
provided herein as a result of numerous known and unknown risks and
uncertainties and other factors including but not limited to:
general economic, political, market and business conditions,
including fluctuations in interest rates, foreign exchange rates
and stock market volatility; a failure to conclude definitive
agreements with counterparties that contain terms and conditions
consistent with executed letters of intent and term sheets;
activities of producers and customers; changes to the regulatory
environment and decisions and First Nations and landowner
consultation requirements; actions by governmental authorities,
including changes in government regulation including environmental,
tariffs and taxation; security threats; reliance on technology and
related cybersecurity risk; transportation of hazardous materials;
various events which could disrupt operations including natural
events such as severe weather, droughts, fires, floods and
earthquakes; risks and liabilities arising from derailments;
changes in operating and capital costs, including fluctuations in
input costs; competition for, among other things, business,
capital, acquisition opportunities, requests for proposals,
materials, equipment, labour and skilled personnel; construction
and engineering variables associated with capital projects,
including the availability of contractors, engineering and
construction services, accuracy of estimates and schedules, and the
performance of contractors; and, the availability of capital on
acceptable terms; and, reliance on key personnel.
The foregoing lists are not exhaustive. Additional
information on these and other factors which could affect the
Corporation's operations or financial results are included in the
Corporation's most recent Annual Information Form and in other
documents on file with the Canadian Securities regulatory
authorities.
The above summary of assumptions and risks related to
forward-looking statements in this news release is intended to
provide shareholders and potential investors with a more complete
perspective on Tidewater's current and future operations and such
information may not be appropriate for other purposes. There is no
representation by Tidewater that actual results achieved will be
the same in whole or in part as those referenced in the
forward-looking statements and Tidewater does not undertake any
obligation to update publicly or to revise any of the included
forward-looking statements, whether as a result of new information,
future events or otherwise, except as may be required by applicable
securities law.
SOURCE Tidewater Midstream and Infrastructure Ltd.