THE WOODLANDS, Texas,
Oct. 25, 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 September 30, 2018. This quarterly
distribution remains unchanged from the previous quarter and from
the quarter ended September 30,
2017. This distribution will be paid on November 14, 2018, to unitholders of record as of
the close of business on November 7,
2018.
Third Quarter 2018 Earnings Release and Earnings Call
Schedule
SMLP also announced today that it will
report financial results for the third quarter of 2018 on
Thursday, November 8, 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, November 9,
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 47745266. 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
November 23, 2018, at 11:59 p.m. Eastern, and can be accessed by
dialing 888-843-7419 and entering the replay passcode
47745266#. 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