Summit Midstream secures new commitments and extends open season
The company added 150 MMcf/d in firm transport agreements and signed a crude gathering deal for 40,000 acres in the Williston Basin.
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Midstream energy infrastructure company
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In short: Summit Midstream secured new commercial commitments, reported first quarter 2026 financial results, and authorized a $35 million stock buyback.
The company added 150 MMcf/d in firm transport agreements and signed a crude gathering deal for 40,000 acres in the Williston Basin.
The Board authorized repurchases of up to $35 million of common stock, reflecting confidence in financial strength.
Net loss of $3.2 million, adjusted EBITDA of $54.2 million, and cash flow available for distributions of $26.9 million.
The private placement of over 1.3 million shares will strengthen the balance sheet and fund growth initiatives.
Summit Midstream (SMC) has authorized the repurchase of up to $35 million of outstanding common shares. Heath Deneke, President, Chief Executive Officer and Chairman, commented...
Moby summary of Summit Midstream Corp.'s Q4 2025 earnings call...
Net loss was $3.2M but SMC generated $54.2M in adjusted EBITDA and $11.4M free cash flow, repaid $45M preferred dividends and reaffirmed 2026 guidance.
HOUSTON – Troutman Pepper Locke advised Summit Midstream Corporation (SMC), a value-driven corporation focused on developing, owning, and operating midstream...
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