Tidewater Midstream and Infrastructure Ltd.

12:12 PM EST - Tidewater Midstream and Infrastructure Ltd. : Has entered into an asset purchase and sale agreement whereby the Corporation has divested of its Pipestone Gas Plant's 32MW cogeneration units to Kineticor Resource Corp., a privately held power developer focused on thermal generation in Canada. Under the terms of the sale, the Corporation received a cash payment of $85 million and Kineticor assumed ownership of the cogeneration units which are currently onsite. In conjunction with the divestiture, the Corporation entered into a long-term energy services agreement whereby Kineticor will supply power to Tidewater's Pipestone Gas Plant once construction is complete in exchange for fixed energy fee payments. Tidewater Midstream and Infrastructure Ltd. shares T.TWM are trading up $0.02 at $1.38.