HOUSTON, Jan. 12, 2021 /PRNewswire/ -- Summit Midstream
Partners, LP (NYSE: SMLP) (the "Partnership") announced today that
Double E Pipeline, LLC ("Double E"), a joint venture in which SMLP
owns a 70% equity interest and serves as the pipeline's operator
and construction manager, received its Notice to Proceed ("NTP")
with construction, as well as approval of its Implementation Plan,
from the Federal Energy Regulatory Commission ("FERC").
Double E has also been granted the necessary rights-of-way on
federal lands from the Department of the Interior's Bureau of Land
Management ("BLM") and has entered into Memorandums of Agreement
regarding treatment and mitigation measures at certain cultural
resource sites with the FERC and the State Historic Preservation
Officers of New Mexico and
Texas.
Heath Deneke, President, Chief
Executive Officer and Chairman, commented, "We are pleased to
report the actions of the FERC and the BLM and also re-affirm our
expected Q4 2021 in-service date. Summit has also made good
progress on its financing plans related to its 70% share of Double
E and intends to announce additional details prior to construction
activities beginning later this quarter."
"We are proud of the efficiency with which this project has
achieved its key milestones on the way to creating a safe and
reliable pipeline with the ability to transport natural gas from
the northern Delaware to market.
Our world-class development team has maintained its focus on
delivering the Double E project on time and under budget and has
been instrumental in advancing the project and taking another step
towards start-up."
About Summit Midstream Partners, LP
SMLP is a
value-driven limited partnership focused on developing, owning and
operating midstream energy infrastructure assets that are
strategically located in 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 six
unconventional resource basins: (i) the Appalachian Basin, which
includes the Utica and Marcellus
shale formations in Ohio and
West Virginia; (ii) the
Williston Basin, which includes
the Bakken and Three Forks shale formations in North Dakota; (iii) the Denver-Julesburg
Basin, which includes the Niobrara
and Codell shale formations in Colorado and Wyoming; (iv) the Permian Basin, which
includes the Bone Spring and Wolfcamp formations in New Mexico; (v) the Fort Worth Basin, which includes the Barnett
Shale formation in Texas; and (vi)
the Piceance Basin, which includes the Mesaverde formation as well
as the Mancos and Niobrara shale formations in Colorado.
SMLP has an equity investment in Double E Pipeline, LLC, which is
developing natural gas transmission infrastructure that will
provide transportation service from multiple receipt points in the
Delaware Basin to various delivery
points in and around the Waha Hub in Texas. SMLP also has an
equity investment in Ohio Gathering, which operates extensive
natural gas gathering and condensate stabilization infrastructure
in the Utica Shale in Ohio. SMLP is headquartered in
Houston, Texas.
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 include, without limitation,
any statement that may project, indicate or imply future results,
events, performance or achievements and may contain the words
"expect," "intend," "plan," "anticipate," "estimate," "believe,"
"will be," "will continue," "will likely result," and similar
expressions, or future conditional verbs such as "may," "will,"
"should," "would," and "could." Forward-looking statements
also 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 2019 Annual
Report on Form 10-K filed with the Securities and Exchange
Commission (the "SEC") on March 9, 2020, Quarterly Report
on Form 10-Q for the three months ended March 31, 2020 filed with the SEC on May 8, 2020, Quarterly Report on Form 10-Q for
the three months ended June 30, 2020
filed with the SEC on August 10, 2020
and Quarterly Report on Form 10-Q for the three months ended
September 30, 2020 filed with the SEC
on November 6, 2020, each 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