Summit Midstream Partners LP

Summit Midstream Partners LP engages in the development, ownership, and operation of midstream energy infrastructure assets that are located in unconventional resource basins, primarily shale formations. It operates through the following segments: Utica Shale, Ohio Gathering, Williston Basin, DJ Basin, Permian Basin, Piceance Basin, Barnett Shale, and Marcellus Shale. The company was founded by Steven J. Newby in May 2012 and is headquartered in Houston, TX.

Earnings data Q2 2023

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HOUSTON , July 21, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) (the "Partnership", "SMLP" or "Summit") announced today that it will report operating and financial results for the second quarter of 2022 on Thursday, August 4, 2022, after the close of trading on the New York Stock Exchange. SMLP will host a conference call at 10:00 a.m.

Summit Midstream Partners, LP Schedules Second Quarter 2022 Earnings Call

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Sadly for the common unitholders of Summit Midstream Partners, they are being squeezed out of their earnings and assets by the preferred unitholders and debt holders. They recently diluted their common unitholders by 40% to merely redeem only part of their preferred units, thereby effectively seeing common unitholders giving away almost half of their assets.

Summit Midstream Partners: Common Unitholders Getting Squeezed Out

HOUSTON , June 30, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit", "SMLP" or the "Partnership") announced today that its wholly owned subsidiary, Summit Midstream Holdings, LLC ("SMP Holdings"), closed on the previously announced sale of Summit Midstream Permian, LLC ("Summit Permian"), which owns the Lane Gathering and Processing System ("Lane G&P System") in the Delaware Basin to a wholly owned subsidiary of Matador Resources Company ("Matador") for a cash sale price of $75 million, excluding customary transaction adjustments.  Matador also assumed Summit Midstream Marketing, LLC's, a wholly owned subsidiary of SMP Holdings, take-or-pay firm capacity on the Double E Pipeline associated with the Lane G&P System.

Summit Midstream Partners, LP Announces Closing of Lane Gathering and Processing System Sale to a Subsidiary of Matador Resources Company

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Midstream traded down but managed to outperform the S&P 500. Inflation fears are spooking investors but will have less of an impact on midstream equities and their income generation prospects.

Midstream Weekly Recap: Midstream Remains A Buy As Inflation Fears Spread

Cash sale price of $75 million reduces SMLP's total leverage by ~0.3x and increases its liquidity and financial flexibility for reinvestment Expands Double E's commercial relationship with Matador, a top-tier Delaware producer with nearly 125,000 net acres in New Mexico and an existing economic interest in a processing plant complex in Eddy County, New Mexico currently connected to Double E Matador assumes additional take-or-pay firm capacity on Double E Provides Summit additional financial flexibility to pursue strategic, scale-building opportunities for Double E and around Summit's other core assets in growth basins The transaction is expected to be free cash flow accretive to SMLP unitholders Summit reiterates its 2022 Adjusted EBITDA guidance range of $205 million to $220 million HOUSTON , June 9, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit", "SMLP" or the "Partnership") announced today that its wholly owned subsidiary, Summit Midstream Holdings, LLC ("SMP Holdings"), has entered into a definitive agreement to sell Summit Midstream Permian, LLC ("Summit Permian"), which owns the Lane Gathering and Processing System ("Lane G&P System") in the Delaware Basin to a wholly owned subsidiary of Matador Resources Company ("Matador") for a cash sale price of $75 million, subject to customary transaction adjustments.  Matador will also assume Summit Midstream Marketing, LLC's, a wholly owned subsidiary of SMP Holdings, take-or-pay firm capacity on the Double E Pipeline associated with the Lane G&P System.

Summit Midstream Partners, LP Announces Sale of its Lane Gathering and Processing System in the Delaware Basin to a Subsidiary of Matador Resources Company & Reiterates its 2022 Adjusted EBITDA Guidance

HOUSTON , May 26, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) (the "Partnership" or "SMLP") announced today that its 2022 annual meeting of limited partners initially convened and partially adjourned on May 10, 2022 and reconvened on May 26, 2022 (the "Annual Meeting") has been adjourned, prior to conducting any business, for the purpose of soliciting additional votes with respect to Proposal 2, the approval of the Summit Midstream Partners, LP 2022 Long-Term Incentive Plan, set forth in the Partnership's definitive proxy statement for the Annual Meeting filed with the Securities and Exchange Commission on March 31, 2022 (the "Proxy Statement"). A quorum was present at the Annual Meeting.

Summit Midstream Partners, LP Announces Adjournment of Annual Meeting and Information for Reconvened Annual Meeting

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HOUSTON , May 11, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) (the "Partnership" or "SMLP") announced today that its 2022 annual meeting of limited partners (the "Annual Meeting") scheduled for and convened today has been partially adjourned for the purpose of soliciting additional votes with respect to Proposal 2, the approval of the Summit Midstream Partners, LP 2022 Long-Term Incentive Plan, set forth in the Partnership's definitive proxy statement for the Annual Meeting filed with the Securities and Exchange Commission on March 31, 2022 (the "Proxy Statement"). A quorum was present at the Annual Meeting, and Proposals 1 (the election of two Class I directors), 3 (the ratification of the appointment of Deloitte & Touche LLP as the Partnership's independent registered public accounting firm for 2022), 4 (the approval of the advisory resolution on executive compensation) and 5 (the advisory vote on the frequency of future advisory votes on executive compensation), set forth in the Proxy Statement, received the requisite votes for approval.

Summit Midstream Partners, LP Announces Partial Adjournment of Annual Meeting and Information for Reconvened Annual Meeting

Summit Midstream Partners' management has averted the short-term risks; however, the work is still cut out for them. The company's stock price has regressed which in our view represents a unique opportunity to invest.

Summit Midstream Partners: Keep Trusting Management

Summit Midstream Partners, LP (NYSE:SMLP ) Q1 2022 Results Conference Call May 4, 2022 10:00 AM ET Company Participants Ross Wong - Investor Relations Heath Deneke - President, Chief Executive Officer William Mault - Chief Financial Officer Conference Call Participants James Carreker - Capital Advisors Gregg Brody - Bank of America Operator Welcome to the Q1 2022 Summit Midstream Partners LP Earnings Conference Call. My name is Vanessa and I will be your operator for today's call.

Summit Midstream Partners, LP (SMLP) CEO Heath Deneke on Q1 2022 Results - Earnings Call Transcript

First quarter 2022 net loss of $5 thousand, adjusted EBITDA of $56.8 million and cash flow available for distributions ("Distributable Cash Flow" or "DCF") of $31.8 million Generated significant free cash flow in Q1 2022, reducing total debt by $34 million 21% increase in crude oil volumes relative to Q4 2021, due to strong performance from 25 wells brought online over the past two quarters In January 2022, completed Series A Preferred exchange offer, resulting in an aggregate reduction in Series A Preferred face value of 78% since July of 2020 Revised 2022 Adjusted EBITDA guidance range of $205 million to $220 million, an increase of $5 million relative to the midpoint of SMLP's initial guidance range Updated 2022 well connect guidance range includes 30 to 40 incremental well connects in the second half of 2022, represents a nearly 40% increase in customer activity levels assumed in SMLP's initial full year 2022 guidance range provided in February Increased the lower end of SMLP's initial 2022 adjusted EBITDA guidance by $10 million, establishing a new 2022 adjusted EBITDA guidance range of $205 million to $220 million HOUSTON , May 3, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit", "SMLP" or the "Partnership") announced today its financial and operating results for the three months ended March 31, 2022, including a net loss of $5 thousand, adjusted EBITDA of $56.8 million and DCF of $31.8 million. Operated natural gas throughput from wholly owned assets averaged 1,306 million cubic feet per day ("MMcf/d") and liquids throughput averaged 65 thousand barrels per day ("Mbbl/d").

Summit Midstream Partners, LP Reports First Quarter 2022 Financial and Operating Results

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HOUSTON , April 19, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) (the "Partnership", "SMLP" or "Summit") announced today that it will report operating and financial results for the first quarter of 2022 on Tuesday, May 3, 2022, after the close of trading on the New York Stock Exchange. SMLP will host a conference call at 10:00 a.m.

Summit Midstream Partners, LP Schedules First Quarter 2022 Earnings Call

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Summit Midstream Partners has seen its stock price languish back down despite solving its 2022 debt obligations.

Whoops! The Market Forgot About Summit Midstream Partners

Summit Midstream Partners, LP (SMLP) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).

What Makes Summit Midstream Partners, LP (SMLP) a New Buy Stock

HOUSTON , March 14, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) announced today that its 2021 tax packages, including the Schedule K-1, are now available online and may be accessed at https://partnerdatalink.com/Summit. SMLP will also begin mailing the 2021 tax packages to unitholders this week.

Summit Midstream Partners, LP Announces 2021 K-1 Tax Package Availability

This is a detailed look at why I would argue Summit's FY 2022 Adj. EBITDA guidance is conservative.

Summit Midstream: A Granular Look At Its (Super) Conservative FY 2022 Guidance

HOUSTON, Feb. 28, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) (the "Partnership") announced today that Rommel M. Oates has been appointed to the Board of Directors of its general partner, Summit Midstream GP, LLC (the "Board").

Summit Midstream Partners, LP Announces the Appointment of Rommel M. Oates to the Board of Directors of its General Partner

Summit Midstream Partners, LP (SMLP) CEO Heath Deneke on Q4 2021 Results - Earnings Call Transcript

HOUSTON, Feb. 25, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit", "SMLP" or the "Partnership") announced today its financial and operating results for the three months ended December 31, 2021, including net loss of $16.2 million, adjusted EBITDA of $54.7 million and DCF of $29.9 million.  Operated natural gas throughput from wholly owned assets averaged 1,307 million cubic feet per day ("MMcf/d") and liquids throughput averaged 62 thousand barrels per day ("Mbbl/d").

Summit Midstream Partners, LP Reports Fourth Quarter and Full Year 2021 Financial and Operating Results & Provides Full Year 2022 Guidance

HOUSTON, Feb. 16, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) (the "Partnership", "SMLP" or "Summit") announced today that it will report operating and financial results for the fourth quarter of 2021 on Friday, February 25, 2022, before the start of trading on the New York Stock Exchange, and that it has new business segments for the reporting of its financial results, beginning with its 2021 fourth quarter and annual results. Fourth Quarter 2021 Earnings Call SMLP will host a conference call at 10:00 a.m.

Summit Midstream Partners, LP Schedules Fourth Quarter 2021 Earnings Call and Announces New Business Segments

HOUSTON, Feb. 8, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) (the "Partnership") announced today that Marc Stratton, the Executive Vice President and Chief Financial Officer of Summit Midstream GP, LLC (the "Company") will be departing the Company to pursue other interests.  Mr. Stratton's employment with the Company will terminate effective March 4, 2022.

Summit Midstream Partners, LP Announces Senior Leadership Changes

HOUSTON, Jan. 14, 2022 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) (the "Partnership") announced today the final results of its offer to exchange (the "Exchange Offer") any and all of its 9.50% Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units (Liquidation Preference $1,000) (the "Series A Preferred Units") tendered in the Exchange Offer for newly issued common units representing limited partner interests in the Partnership (the "Common Units"), which expired at 11:59 p.m., New York City time, on January 12, 2022.

News for Summit Midstream Partners LP Stock (SMLP)