Tidewater Midstream runs pipelines, gas plants, and a refinery in western Canada, moving natural gas and liquids from wellhead to market—like a toll road for energy.
Revenue came to CAD 1.32B in 2025, but gross profit was negative CAD 0.03B and net loss CAD 0.11B; the business loses money on operations, with no recurring profit stream.
Its infrastructure assets (pipelines, processing plants) are costly to duplicate, giving a solid regional position. However, competitors like Pembina Pipeline and Enbridge can build or acquire similar capacity, and Tidewater's weak margins show pricing power i
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Bullish on $TWMIF following a strong Q2 report, with a favorable supply/demand outlook supporting higher crack spreads and a credible path to C$100/share.
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