THE WOODLANDS, Texas,
Nov. 30, 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 an initial partial-period
distribution of $7.9167 per Series A
Preferred Unit, which will be payable on December 15, 2017 to holders of record at the
close of business on December 1,
2017.
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 is in the process of
developing new gathering and processing infrastructure in a sixth
basin, the Delaware Basin, in
New Mexico. 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 35.4% 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 8.1% 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 as updated and
superseded by the Current Report on Form 8-K filed with the
Securities and Exchange Commission on November 6, 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