08:03 AM EST, 11/21/2025 (MT Newswires) -- Tidewater Midstream and Infrastructure ( TWMIF ) on Friday issued a statement saying that a $110 million lawsuit filed by Axiom Oil and Gas is "without merit" which it would contest "vigorously."

Axion issued a release overnight advising that it was selling certain non-core assets, including the Brazeau property it had acquired from Tidewater in 2020. Axiom had filed a statement of claim against Tidewater in April 2024 over its termination of the 2020 gas handling agreement (GHA) between the two companies.

According to Axiom, Brazeau contains 650 boe/d of shut-in production and long life independently estimated reserves of 6.3 Bcf of natural gas and 931,000 barrels oil and natural gas liquids. Axiom believed that Tidewater would process its sour gas long term.

Tidewater notes that Axiom unsuccessfully sought an injunction in the Court of King's Bench of Alberta over the 2024 claim, with costs being awarded to Tidewater. The court also concluded that the liability caps applicable to Axiom's claims amounted to $200,000.