Tidewater Midstream and Infrastructure Management

Management criteria checks 1/4

Tidewater Midstream and Infrastructure's CEO is Jeremy Baines, appointed in Jan 2024, has a tenure of less than a year. directly owns 0.04% of the company’s shares, worth €83.98K. The average tenure of the management team and the board of directors is 0.3 years and 3.9 years respectively.

Key information

Jeremy Baines

Chief executive officer

n/a

Total compensation

CEO salary percentage	n/a
CEO tenure	less than a year
CEO ownership	0.04%
Management average tenure	less than a year
Board average tenure	3.9yrs

Recent management updates

Recent updates

CEO

Jeremy Baines

less than a year

Tenure

Mr. Jeremy R. Baines is CEO and Director at Tidewater Midstream and Infrastructure Ltd. and Tidewater Renewables Ltd. since January 22, 2024.He serves as Chairman of the Board at Tidewater Renewables Ltd....

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Jeremy Baines	CEO & Director	less than a year	no data	0.040% CA$ 84.0k
Aaron Ames	Interim Chief Financial Officer	less than a year	no data	no data
Scott Bauman	Director of Corporate Finance	no data	no data	no data
Kent Chicilo	Executive VP of Shared Services	1.3yrs	no data	0.039% CA$ 82.5k
Shawn Heaney	Executive VP of Planning & Strategy	no data	no data	0.014% CA$ 29.9k
Jared Gurevitch	Executive Vice President of Midstream Commercial	no data	no data	0.050% CA$ 106.9k
Matthew Millard	Executive Vice President of Downstream Operations	no data	no data	0.039% CA$ 83.3k
Jeffrey Scott	Executive Vice President of Downstream Commercial	no data	no data	0.014% CA$ 28.8k

0.3yrs

Average Tenure

Experienced Management: TL5's management team is not considered experienced ( 0.3 years average tenure), which suggests a new team.

Board Members

Name	Position	Tenure	Compensation	Ownership
Jeremy Baines	CEO & Director	less than a year	no data	0.040% CA$ 84.0k
Thomas Dea	Independent Chairman	1.8yrs	no data	3.95% CA$ 8.4m
Michael Salamon	Independent Director	3.9yrs	no data	no data
Margaret Raymond	Independent Director	7yrs	CA$336.26k	0.0082% CA$ 17.5k
Douglas Fraser	Lead Independent Director	9.1yrs	CA$156.11k	0.099% CA$ 209.5k
David Smith	Independent Director	less than a year	no data	no data
Gail Yester	Independent Director	3.8yrs	CA$138.00k	no data
Neil McCarron	Independent Director	3.9yrs	no data	no data

3.9yrs

Average Tenure

64yo

Average Age

Experienced Board: TL5's board of directors are considered experienced (3.9 years average tenure).

Tidewater Midstream and Infrastructure Management

Management criteria checks 1/4

Key information

Recent management updates

Tidewater Midstream and Infrastructure Ltd., Annual General Meeting, May 29, 2024

Tidewater Midstream and Infrastructure Ltd. Announces Executive Changes

Director recently sold €67k worth of stock

Tidewater Midstream and Infrastructure Ltd. Announces the Appointment of Aaron Ames as Interim Chief Financial Officer

Tidewater Midstream and Infrastructure Ltd. and Tidewater Renewables Ltd. Appoints Robert Colcleugh as Chief Executive Officer

Insufficient new directors

Recent updates

New minor risk - Insider selling

Tidewater Midstream and Infrastructure Ltd., Annual General Meeting, May 29, 2024

Full year 2023 earnings released: CA$0.91 loss per share (vs CA$0.023 profit in FY 2022)

Now 21% overvalued

Tidewater Midstream and Infrastructure Ltd. Provides Operating Guidance for the First Quarter of 2024

Tidewater Midstream and Infrastructure Ltd. Announces Executive Changes

Director recently sold €67k worth of stock

Tidewater Midstream and Infrastructure Ltd. Announces the Appointment of Aaron Ames as Interim Chief Financial Officer

Tidewater Midstream and Infrastructure Ltd. and Tidewater Renewables Ltd. Appoints Robert Colcleugh as Chief Executive Officer

Third quarter 2023 earnings released: CA$0.05 loss per share (vs CA$0.05 loss in 3Q 2022)

Now 20% undervalued after recent price drop

Tidewater Midstream and Infrastructure Ltd. Declares Dividend for the Third Quarter of 2023, Payable on or About October 31, 2023

AltaGas Ltd. (TSX:ALA) entered into a definitive agreement to acquire Pipestone Natural Gas Processing Plant, Natural Gas Storage Facility and assets from Tidewater Midstream and Infrastructure Ltd. (TSX:TWM) for CAD 650 million.

Second quarter 2023 earnings released: CA$0.02 loss per share (vs CA$0.047 profit in 2Q 2022)

Insufficient new directors

Tidewater Announces Second Quarter 2023 Dividend, Payable on or About July 31, 2023

First quarter 2023 earnings released: CA$0.06 loss per share (vs CA$0.12 profit in 1Q 2022)

An unknown buyer acquired Certain Non-core Assets of Tidewater Midstream and Infrastructure Ltd.

Full year 2022 earnings released: EPS: CA$0.02 (vs CA$0.21 in FY 2021)

Tidewater Midstream and Infrastructure Ltd. Declares Dividend for the Fourth Quarter 2022, Payable on or About January 31, 2023

Tidewater Midstream and Infrastructure Ltd. and Tidewater Renewables Ltd. Announces Management Changes

Third quarter 2022 earnings released: CA$0.05 loss per share (vs CA$0.005 profit in 3Q 2021)

Third quarter 2022 earnings released: CA$0.05 loss per share (vs CA$0.005 profit in 3Q 2021)

Tidewater Midstream and Infrastructure Ltd. Announces Dividend for Third Quarter 2022, Payable on or About October 31, 2022

Tidewater Midstream and Infrastructure Ltd. announced that it has received CAD 38.125 million in funding from Birch Hill Equity Partners Management Inc., Kicking Horse Capital Inc.

Thomas P. Dea Joins the Board of Directors of Tidewater Midstream and Infrastructure Ltd

Second quarter 2022 earnings released: EPS: CA$0.05 (vs CA$0.19 in 2Q 2021)

Tidewater Midstream and Infrastructure Ltd. has completed a Composite Units Offering in the amount of CAD 50.496 million.

Tidewater Midstream and Infrastructure Ltd. announced that it expects to receive CAD 34.5 million in funding from Birch Hill Equity Partners Management Inc., Kicking Horse Capital Inc., and other investors

Tidewater Midstream and Infrastructure Ltd. Declares Dividend for the Second Quarter 2022, Payable on or About July 31, 2022

Investor sentiment deteriorated over the past week

First quarter 2022 earnings released: EPS: CA$0.12 (vs CA$0.025 in 1Q 2021)

Tidewater Midstream and Infrastructure Ltd., Annual General Meeting, Jun 23, 2022

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Chief Commercial Officer of Midstream recently sold €171k worth of stock

Chief Commercial Officer of Midstream recently sold €120k worth of stock

Third quarter 2021 earnings released: EPS CA$0.01 (vs CA$0.006 loss in 3Q 2020)

Second quarter 2021 earnings released: EPS CA$0.19 (vs CA$0.001 loss in 2Q 2020)

ATCO Gas and Pipelines Ltd. Completed the acquisition of Pioneer Pipeline in Alberta from TransAlta Corporation (TSX:TA) and Tidewater Midstream and Infrastructure Ltd. (TSX:TWM).

First quarter 2021 earnings released: EPS CA$0.02 (vs CA$0.12 loss in 1Q 2020)

Full year 2020 earnings released: CA$0.10 loss per share (vs CA$0.042 loss in FY 2019)

Revenue beats expectations

An unknown buyer acquired an unknown majority stake in Tidewater Logistics Ltd for CAD 6.5 million.

New 90-day high: €0.65

New 90-day high: €0.60

New 90-day high: €0.57

New 90-day high: €0.52

Revenue misses expectations

Third quarter 2020 earnings released: CA$0.01 loss per share

Tidewater Midstream and Infrastructure Ltd. to Report Q3, 2020 Results on Nov 12, 2020

New 90-day low: €0.41

Nova Gas Transmission Ltd. entered into letter of intent to acquire Pioneer Pipeline in Alberta from TransAlta Corporation (TSX:TA) and Tidewater Midstream and Infrastructure Ltd. (TSX:TWM) for approximately CAD 260 million.

ATCO Gas and Pipelines Ltd. entered into a Purchase and Sale Agreement to acquire Pioneer Pipeline in Alberta from TransAlta Corporation (TSX:TA) and Tidewater Midstream and Infrastructure Ltd. (TSX:TWM) for approximately CAD 260 million.

New 90-day low: €0.44

Earnings released

Tidewater Midstream and Infrastructure Ltd. to Report Q2, 2020 Results on Aug 13, 2020

CEO

Tenure

Leadership Team

Average Tenure

Board Members

Average Tenure

Average Age