Tidewater Midstream Posts Sharp EBITDA Drop, Sells Assets Amid 2025 Losses
According to CNW, Tidewater Midstream and Infrastructure (TSX: TWM) reported a $30 million net loss in Q4 2025, compared to a $3.3 million loss in Q4 2024, with adjusted EBITDA collapsing to $3 million from $20 million in the same period. The Calgary-based midstream company sold its Sylvan Lake gas plant for roughly $5.5 million and secured BC low-carbon fuel credits to support renewable diesel production at its Prince George Refinery through 2028.
What It Means for Subcontractors
- A sharp EBITDA decline signals tighter budgets at Tidewater, meaning field service vendors and maintenance contractors should expect closer scrutiny on bids and slower approvals.
- The Sylvan Lake asset sale changes who owns that infrastructure, so contractors working that area should confirm current operator contacts and verify contract assignments with Parallax Energy Operating.
- The renewable fuel push at Prince George could open near-term maintenance and turnaround work, as Tidewater continues upgrades to its hydrotreater and FCC co-processing units.
