HOUSTON, April 25,
2024 /PRNewswire/ -- Summit Midstream Partners, LP
(NYSE: SMLP) ("Summit," "SMLP" or the "Partnership") today
announced it will report operating and financial results for the
first quarter of 2024 on Friday, May 3,
2024, before the open of trading on the New York Stock
Exchange.
Summit also announced the expiration and results of the
previously announced cash tender offer (the "Excess Cash Flow
Offer") of Summit Midstream Holdings, LLC ("Holdings") and Summit
Midstream Finance Corp. (together with Holdings, the "Issuers"),
which are subsidiaries of the Partnership, to purchase up to
$19,331,000 aggregate principal
amount of their outstanding 8.500% Senior Secured Second Lien Notes
due 2026 (the "Notes") at a purchase price of 100% of the aggregate
principal amount thereof, plus accrued and unpaid interest to, but
not including, the purchase date.
The Excess Cash Flow Offer expired at 5:00 p.m., New York
City time, on April 24, 2024
(the "Expiration Time"). As of the Expiration Time, an aggregate
principal amount of $13,626,000, or
approximately 1.74%, of the Notes were validly tendered and not
validly withdrawn. The Issuers have accepted for payment all Notes
validly tendered and not validly withdrawn prior to the Expiration
Time pursuant to the Excess Cash Flow Offer and will make payment
for such Notes on April 26, 2024.
Requests for documents relating to the Excess Cash Flow Offer
may be directed to D.F. King & Co., Inc., at (800) 347-4826
(Toll-Free) or (212) 269-5550, or by email at smlp@dfking.com.
This press release is for informational purposes only and is
neither an offer to purchase nor a solicitation of an offer to sell
any Notes.
First Quarter 2024 Earnings Call
SMLP will host a conference call at 10:00
a.m. Eastern on May 3, 2024,
to discuss its quarterly operating and financial results. The call
can be accessed via teleconference at: Q1 2024 Summit Midstream
Partners LP Earnings Conference Call
(https://register.vevent.com/register/BIece413d1f8d74a20adea2361c8d96184).
Once registration is completed, participants will receive a dial-in
number along with a personalized PIN to access the call. While not
required, it is recommended that participants join 10 minutes prior
to the event start. The conference call, live webcast and archive
of the call can be accessed through the Investors section of SMLP's
website at www.summitmidstream.com.
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 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,
processing and transportation services pursuant to primarily
long-term, fee-based agreements with customers and counterparties
in five unconventional resource basins: (i) the Appalachian Basin,
which includes the Marcellus shale formation in 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 Fort Worth Basin, which includes the Barnett
Shale formation in Texas; and (v)
the Piceance Basin, which includes the Mesaverde formation as well
as the Mancos and Niobrara shale formations in Colorado. SMLP has an equity method investment
in Double E Pipeline, LLC, which provides interstate natural gas
transportation service from multiple receipt points in the
Delaware Basin to various delivery
points in and around the Waha Hub in Texas. 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." In addition, any statement concerning future financial
performance (including future revenues, earnings or growth rates),
ongoing business strategies and possible actions taken by SMLP or
its subsidiaries are also forward-looking statements.
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 2023 Annual Report
on Form 10-K filed with the Securities and Exchange Commission on
March 15, 2024. 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