Summit Midstream Partners
In September 2009, Energy Capital formed Summit Midstream Partners to take advantage of the domestic growth opportunities in the midstream oil and gas industry resulting from the proliferation of unconventional shale production. On September 27, 2012, Summit Midstream Partners, LP priced an Initial Public Offering on the NYSE under the ticker symbol “SMLP.”
Summit Midstream operates natural gas, crude oil and produced water gathering systems in five unconventional resource basins: the Marcellus, Utica, Bakken, Barnett, and Piceance. In addition, SMLP is in the process of developing new gathering and processing infrastructure in a sixth basin, the Delaware Basin, in New Mexico.
The company generates a substantial portion of its revenue under primarily long-term and fee-based gathering agreements with its customers, including those underpinned by minimum volume commitments.