THE WOODLANDS, Texas,
July 26, 2018 /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 June
30, 2018. This quarterly distribution remains
unchanged from the previous quarter and from the quarter ended
June 30, 2017. This
distribution will be paid on August 14,
2018, to unitholders of record as of the close of business
on August 7, 2018.
Second Quarter 2018 Earnings Release and Earnings Call
Schedule
SMLP also announced today that it will report financial results
for the second quarter of 2018 on Thursday,
August 2, 2018, 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, August 3,
2018, 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 47115947. 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
August 17, 2018, at 11:59 p.m. Eastern, and can be accessed by
dialing 888-843-7419 and entering the replay passcode
47115947#. 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.
For purposes of Treasury Regulation Section 1.871-15(m), SMLP is
not considered a covered partnership.
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,
Atlanta, Georgia, Pittsburgh, Pennsylvania and Dallas, Texas.
About Summit Midstream Partners, LLC
Summit Midstream Partners, LLC ("Summit Investments")
beneficially owns a 35.2% 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 2017 Annual Report on Form 10-K filed with the
Securities and Exchange Commission on February 26, 2018, 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