Summit Midstream Partners, LP
New York Stock ExchangeCapital Structure
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- CEO
- J. Heath Deneke
- Full Time Employees
- 244
- Sector
- Energy
- Industry
- Oil & Gas Midstream
- Address
- 910 Louisiana Street Houston TX United States of America 77002
- IPO Date
- Sep 28, 2012
- CIK
- 0001549922
- Website
- summitmidstream.com
- Similar Companies
- Business
- Summit Midstream Partners, LP (NYSE: SMLP), a wholly owned subsidiary of Summit Midstream Corporation, develops, owns and operates midstream energy infrastructure assets strategically located in core producing areas of unconventional resource basins, primarily shale formations, across the continental United States; the partnership provides natural gas gathering, processing and transportation services; crude oil gathering and transportation; produced water gathering, treating and disposal; and compression services through compressor stations. Summit Midstream Partners operates in four key basins, including the Williston Basin (Bakken/Three Forks in North Dakota), Denver-Julesburg Basin (Niobrara/Codell in Colorado and Wyoming), Fort Worth Basin (Barnett Shale in Texas) and Piceance Basin (Mesaverde, Mancos and Niobrara in Colorado), with an equity method investment in Double E Pipeline, LLC, providing interstate natural gas transportation from the Delaware Basin to the Waha Hub in Texas; its systems gather natural gas from pad sites and wells, compress, dehydrate, treat and process volumes for delivery to downstream pipelines, processing plants or end users, while contracting with producers for crude oil and produced water handling to pipelines, rail terminals or disposal wells under primarily long-term, fee-based contracts. Founded in 2009 and headquartered in Houston, Texas, the partnership serves upstream producers targeting natural gas, natural gas liquids and crude oil in these basins. In July 2024, unitholders approved the corporate reorganization converting Summit Midstream Partners from a master limited partnership to a C-corporation structure within Summit Midstream Corporation, effective August 1, 2024, to simplify operations, reduce tax burdens and improve trading liquidity; the company priced an upsized $575 million offering of 8.625% senior secured second lien notes due 2029 and upsized its ABL credit facility to $500 million to enhance financial flexibility. In March 2025, Summit completed the acquisition of Moonrise Midstream, LLC, in the DJ Basin for $70 million in cash plus equity, adding processing capacity, alleviating pipeline constraints and creating operational synergies. Most recently, in December 2024, Summit finalized the $450 million acquisition of Tall Oak Midstream III in the Arkoma Basin from Tailwater Capital, incorporating 440 MMcf/d of gas processing capacity, over 400 miles of pipelines and 300,000 dedicated acres under long-term fee-based contracts, shifting commodity exposure toward natural gas, reducing pro forma leverage to 3.8x and positioning the company for potential capital returns such as dividends or share buybacks in 2025.
Summit Midstream: Rough Ride Ahead
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Summit Midstream Partners, LP Announces Expiration and Pricing Terms of Cash Tender Offer to Purchase Any and All of Its Subsidiaries' 8.500% Senior Secured Second Lien Notes Due 2026
Summit Midstream: Refinancing And Conversion To C-Corp Could Mean A Double In The Stock
Summit Unitholders Approve Conversion to a C-Corporation
Summit Midstream Partners, LP Announces Pricing of Upsized Offering of $575 Million of Senior Secured Second Lien Notes Due 2029
Summit Midstream Partners, LP Announces Commencement of a Cash Tender Offer to Purchase Any and All of Its Subsidiaries' 8.500% Senior Secured Second Lien Notes Due 2026
Summit Midstream Partners, LP Announces Proposed Offering of $500 million of Senior Secured Second Lien Notes Due 2029
Summit Midstream Partners Shows Its Continued Dedication To Shareholders
Summit Advances Planned Conversion to C-Corporation to Facilitate Growth and Value Creation
Summit Midstream Partners, LP Announces Expiration and Results for Asset Sale Offer to Purchase up to $215,000,000 Aggregate Principal Amount of Outstanding 8.500% Senior Secured Second Lien Notes Due 2026
Summit Midstream Partners, LP Announces Asset Sale Offer to Purchase up to $215,000,000 Aggregate Principal Amount of Outstanding 8.500% Senior Secured Second Lien Notes Due 2026
Summit Midstream Partners, LP Common Units (SMLP) Q1 2024 Earnings Call Transcript
Antero Midstream Announces Bolt-On Acquisition, Increased 2024 Guidance and Redemption of 2026 Senior Notes
Summit Midstream Partners, LP Reports First Quarter 2024 Financial and Operating Results
Summit Midstream Partners, LP Schedules First Quarter 2024 Earnings Call and Announces Expiration and Results for Excess Cash Flow Offer to Purchase up to $19,331,000 Aggregate Principal Amount of Outstanding 8.500% Senior Secured Second Lien Notes Due 2026
Summit Midstream Partners: The Market Has Yet To Understand Its Recent Success