THE WOODLANDS, Texas,
April 27, 2017 /PRNewswire/
-- Summit Midstream Partners, LP (NYSE: SMLP) announced today
that the board of directors of its general partner, Summit
Midstream GP, LLC, has declared a quarterly cash distribution of
$0.575 per unit on all of its
outstanding common units, or $2.30
per unit on an annualized basis, for the quarter ended March 31, 2017. This quarterly distribution
remains unchanged from the previous quarter and from the quarter
ended March 31, 2016. This
distribution will be paid on May 15,
2017, to unitholders of record as of the close of business
on May 8, 2017.
First Quarter 2017 Earnings Release and Earnings Call
Schedule
SMLP also announced today that it will report financial results
for the first quarter of 2017 on Thursday,
May 4, 2017, after the close of trading on the New York
Stock Exchange.
SMLP will host a conference call at 10:00
a.m. Eastern on Friday, May 5,
2017, to discuss its quarterly operating and financial
results. Interested parties may participate in the call by
dialing 847-585-4405 or toll-free 888-771-4371 and entering the
passcode 44766086. The conference call will also be webcast
live and can be accessed through the Investors section of SMLP's
website at www.summitmidstream.com.
A replay of the conference call will be available until
May 19, 2017 at 11:59 p.m. Eastern, and can be accessed by
dialing 888-843-7419 and entering the replay passcode
44766086#. An archive of the conference call will also be
available on SMLP's website.
This release is intended to be a qualified notice under Treasury
Regulation Section 1.1446-4(b). Brokers and nominees should treat
one hundred percent (100.0%) of SMLP's distributions to foreign
investors as being attributable to income that is effectively
connected with a United States
trade or business. Accordingly, SMLP's distributions to foreign
investors are subject to federal income tax withholding at the
highest applicable effective tax rate.
About Summit Midstream Partners, LP
SMLP is a growth-oriented limited partnership focused on
developing, owning and operating midstream energy infrastructure
assets that are strategically located in the core producing areas
of unconventional resource basins, primarily shale formations, in
the continental United States.
SMLP provides natural gas, crude oil and produced water gathering
services pursuant to primarily long-term and fee-based gathering
and processing agreements with customers and counterparties in five
unconventional resource basins: (i) the Appalachian Basin, which
includes the Marcellus and Utica
shale formations in West Virginia
and Ohio; (ii) the Williston Basin, which includes the Bakken and
Three Forks shale formations in North
Dakota; (iii) the Fort
Worth Basin, which includes the Barnett Shale formation in
Texas; (iv) the Piceance Basin,
which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in
Colorado and Utah; and (v) the Denver-Julesburg Basin,
which includes the Niobrara and Codell shale formations in
Colorado and Wyoming. SMLP
also owns substantially all of a 40% ownership interest in Ohio
Gathering, which is developing natural gas gathering and condensate
stabilization infrastructure in the Utica Shale in Ohio. SMLP
is headquartered in The Woodlands,
Texas, with regional corporate offices in Denver, Colorado and Atlanta, Georgia.
About Summit Midstream Partners, LLC
Summit Midstream Partners, LLC ("Summit Investments")
beneficially owns a 35.0% limited partner interest in SMLP and
indirectly owns and controls the general partner of SMLP, Summit
Midstream GP, LLC, which has sole responsibility for conducting the
business and managing the operations of SMLP. Summit Investments is
a privately held company controlled by Energy Capital Partners II,
LLC, and certain of its affiliates. An affiliate of Energy
Capital Partners II, LLC directly owns an 8.0% limited partner
interest in SMLP.
Forward-Looking Statements
This press release includes certain statements concerning
expectations for the future that are forward-looking within the
meaning of the federal securities laws. Forward-looking statements
contain known and unknown risks and uncertainties (many of which
are difficult to predict and beyond management's control) that may
cause SMLP's actual results in future periods to differ materially
from anticipated or projected results. An extensive list of
specific material risks and uncertainties affecting SMLP is
contained in its 2016 Annual Report on Form 10-K filed with the
Securities and Exchange Commission on February 27, 2017, and as amended and updated
from time to time. Any forward-looking statements in this press
release are made as of the date of this press release and SMLP
undertakes no obligation to update or revise any forward-looking
statements to reflect new information or events.
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SOURCE Summit Midstream Partners, LP