Tidewater Midstream And Infrastructure Ltd. — Montney Divestiture

Sayer Energy Advisors has been engaged to assist Tidewater Midstream and Infrastructure Ltd. (“Tidewater” or the “Company”) with the sale of certain oil and natural gas interests located in the Montney resource play region of northeastern British Columbia (the “Properties”).

The Properties offer production potential from multiple reservoirs alongside key Tidewater infrastructure with substantial drilling upside in the Montney Formation.

In the Graham area of British Columbia, Tidewater holds various working interests in approximately 119,035 gross acres (73,116 net) of land including 21,144 gross acres (13,127 net) of Montney rights. In addition, Tidewater holds various working interests in approximately 18,968 gross acres (13,740 net) of land in Northeast BC including 14,641 gross acres (12,725 net) of Montney rights.

Reactivation of legacy production offers production potential from the Properties of approximately 4-6 MMcf/d of natural gas net to Tidewater. Prior to being shut-in in May 2016, the Properties were producing low decline natural gas primarily from the Debolt, Baldonnel, Jean Marie, Halfway and Boundary Lake formations.

Tidewater holds a 32% working interest in the Cypress Gas Facilities, including the natural gas gathering system, natural gas sales pipeline and Cypress Sour Gas Plant located at 94-B-16 Block C Unit 99 (B). Capacity of the Cypress Sour Plant is approximately 45 MMcf/d.

Tidewater intends to retain the infrastructure assets and work with producers on providing full-service midstream solutions. If a party wishes to own a small working interest in the infrastructure, Tidewater would be willing to consider such proposals and requests that proposals include the desired ownership percentage and dollar value ascribed to the infrastructure assets.

More specific information relating to this divestiture is available at www.sayeradvisors.com. A package of more detailed confidential information will be sent to any party executing a Confidentiality Agreement. 

Cash offers relating to this divestiture will be accepted until 12:00 pm on Thursday, February 10, 2022.

For further information please feel free to contact: Ben Rye, Grazina Palmer, or Tom Pavic at 403.266.6133.



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