08:21 AM EDT, 03/14/2024 (MT Newswires) -- Tidewater Midstream and Infrastructure Ltd. ( TWMIF ) on Thursday reported a fourth-quarter net loss attributable to shareholders of $329.4 million, or $0.77 per basic share, wider than a loss of $42 million, or $0.10 per basic share, a year earlier.

Adjusted EBITDA for the quarter ended Dec. 31, 2023, was $10.7 million, down from $43.7 million a year earlier.

For 2024, the company 10,500 to 11,500 barrels per day from Prince George Refinery; 2,400 to 2,600 bbl/per day from HDRD Complex; 100 to 120 million cubic feet per day; and 80 to 90 million cubic feet per day from Ram River.

The full-year expected deconsolidated maintenance capital is expected to be $25 million to $30 million.

The company also provided an update on initiatives of maintaining safe and reliable operations, generating return on assets through maximizing facility throughputs and optimizing our existing asset base, and achieving synergies through integration.

The company said it did not record any lost time incidents at the PGR in 2023 during the planned turnaround or through regular operations; and the construction of the HDRD Complex and related commissioning were completed with no lost time incidents.

Also, the company said the HDRD Complex reached commercial operations in 2023 and increased reliability toward design capacity in the first quarter of 2024.

Tidewater Midstream and Infrastructure ( TWMIF ) said operating and maintenance optimization initiatives identified about $5 million of potential maintenance capital savings and $6 million of run rate potential operating cost savings.

Looking ahead, the company said cost reduction measures are expected to reduce nearly $5 million of general and administrative expenditures identified for 2024.