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Profile: Summit Midstream Partners LP (SMLP.N)

SMLP.N on New York Stock Exchange

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25 May 2017
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Summit Midstream Partners, LP, incorporated on May 1, 2012, focuses on developing, owning and operating midstream energy infrastructure assets. The Company's segments include the Utica Shale, which includes its ownership interest in Ohio Gathering, as well as Summit Utica; the Williston Basin, which includes Bison Midstream, Polar and Divide and Tioga Midstream; the Marcellus Shale, which includes Mountaineer Midstream; the Barnett Shale, which includes DFW Midstream Services LLC (DFW Midstream), and the Piceance Basin /DJ Basins, which includes Grand River and Niobrara G&P. The Company's assets are located in the producing areas of unconventional resource basins, primarily shale formations, in the continental United States. It provides natural gas gathering, treating and processing services, as well as crude oil and produced water gathering services pursuant to long-term and fee-based agreements with its customers.

The Company's operations are focused on gathering, treating and processing services in five unconventional resource basins: the Appalachian Basin, which includes the Utica and Point Pleasant shale formations in southeastern Ohio and the Marcellus Shale formation in northern West Virginia; the Williston Basin, which includes the Bakken and Three Forks shale formations in northwestern North Dakota; the Fort Worth Basin, which includes the Barnett Shale formation in north-central Texas; the Piceance Basin, which includes the Mesaverde formation and the Mancos and Niobrara shale formations in western Colorado and eastern Utah, and the DJ Basin, which includes the Niobrara shale formation in northeastern Colorado. The Company also contracts with producers to gather crude oil and produced water from wells connected to its systems for delivery to third-party rail terminals and pipelines in the case of crude oil and to third-party disposal wells in the case of produced water.

Utica Shale

The Company's Ohio Gathering consists of a natural gas gathering system and condensate stabilization facility located in the Utica Shale in southeastern Ohio that is in service and under development. The gathering system spans the condensate, liquids-rich and dry gas windows of the Utica Shale for multiple producers that are targeting natural gas, condensate and natural gas liquids (NGLs) production from the Utica and Point Pleasant shale formations across Harrison, Guernsey, Belmont, Noble and Monroe counties in southeastern Ohio. Condensate and liquids-rich gas production is gathered, compressed, dehydrated and delivered to the Cadiz and Seneca processing complexes, which are owned by MPLX LP (MPLX) and The Energy and Minerals Group (EMG). Dry gas production is gathered, compressed, dehydrated and delivered to a downstream interconnect with Texas Eastern Transmission (TETCO), and another third-party pipeline, which provides access to the northeast and mid-west markets.

The Summit Utica system is a natural gas gathering system located in the Appalachian Basin in Belmont and Monroe counties in southeastern Ohio and serves producers targeting the dry gas window of the Utica and Point Pleasant shale formations. The Summit Utica system gathers and delivers natural gas, primarily under long-term and fee-based gathering agreements, which include acreage dedications. The system interconnects with Energy Transfer Partners, L.P.'s (Energy Transfer Partners) Utica Ohio River Pipeline, which delivers to the Clarington Hub in Clarington, Ohio. The Summit Utica system provides natural gas midstream services for the Utica Shale segment.

Williston Basin

The Company's Bison Midstream system is located in Mountrail and Burke counties in northwestern North Dakota. As of December 31, 2016, it consisted of low- and high-pressure pipeline and seven compressor stations, and included gathering pipelines ranging from 3 inches to 10 inches in diameter. Bison Midstream gathers, compresses and treats associated natural gas that exists in the crude oil stream produced from the Bakken and Three Forks shale formations. These formations are targeted for crude oil production. Natural gas gathered on the Bison Midstream system is delivered to Aux Sable Midstream LLC's Palermo Conditioning Plant in Palermo, North Dakota and then delivered to its natural gas processing plant in Channahon, Illinois. The Bison Midstream system provides associated natural gas midstream services for the Williston Basin segment.

The Polar and Divide system, which is located primarily in Williams and Divide counties in northwestern North Dakota, owns, operates and is developing crude oil and produced water gathering systems and transmission pipelines serving the Bakken and Three Forks shale formations. The Polar and Divide system is underpinned by two long-term and fee-based gathering agreements with Whiting Petroleum Corp. (Whiting) and SM Energy Company (SM Energy). In addition to Whiting and SM Energy, the Polar and Divide system is also supported by other long-term, fee-based gathering agreements and has executed agreements to expand the system to connect additional customer pad sites. Crude oil that is gathered by the Polar and Divide system is delivered to Crestwood Equity Partners LP's COLT Hub rail facility in Epping, North Dakota and produced water is delivered to third-party disposal facilities located throughout the Williston Basin. The Polar and Divide system provides crude oil and produced water midstream services for the Williston Basin segment.

The Tioga Midstream system is located in Williams County, North Dakota. All gathering services on the Tioga Midstream system are provided pursuant to long-term and fee-based gathering agreements with Hess, which is primarily targeting crude oil production from the Bakken and Three Forks shale formations. All crude oil, produced water and natural gas gathered on the Tioga Midstream system is delivered to downstream pipelines and disposal wells (for produced water) that are owned and operated by Hess. The Tioga Midstream system provides associated natural gas, crude oil and produced water midstream services for the Williston Basin segment.

Piceance/DJ Basins

The Company's Grand River system is primarily located in Garfield County. It gathers natural gas from the Mesaverde formation and the Mancos and Niobrara shale formations located within the Piceance Basin. Its Red Rock Gathering is located in Garfield, Rio Blanco and Mesa counties in Colorado and Uintah and Grand counties in Utah. The Grand River and Red Rock Gathering systems are connected and are managed as a single system, which collectively refer to as the Grand River system. The Grand River system has multiple long-term and fee-based gathering agreements with Encana, as well as fee-based agreements with Black Hills Exploration and Production, Inc. (Black Hills) and Terra, both of, which include long-term acreage dedications and minimum volume commitments (MVCs).

The Niobrara G&P system, which is located in Weld County, Colorado, consisted of a low-pressure and high-pressure associated natural gas gathering pipeline and cryogenic natural gas processing plant with processing capacity of 20 million cubic feet per day (MMcf/d) pursuant to a long-term, fee-based gathering and processing agreement with Fifth Creek and a Unites States independent crude oil and natural gas company as of December 31, 2016. The Niobrara G&P system provides midstream services for the Piceance/DJ Basins segment.

Barnett Shale

The Company's DFW Midstream system is located in southeastern Tarrant County, in north-central Texas. The DFW Midstream system, which included gathering pipelines ranging from 4 inches to 30 inches in diameter, is located under both private and public property and is partially located along existing electric transmission corridors. Compression on the system is powered by electricity. As of December 31, 2016, the DFW Midstream system had six primary interconnections with third-party, primarily intrastate pipelines. These interconnections enable it to connect its customers, directly or indirectly, with the natural gas market hubs in Texas and Louisiana. The DFW Midstream system is underpinned by a long-term and fee-based gathering agreement with Total and by other long-term, fee-based gathering agreements. The DFW Midstream system provides midstream services for the Barnett Shale segment.

Marcellus Shale

The Company's Mountaineer Midstream system, which operates in the Appalachian Basin, benefits from its location in Doddridge and Harrison counties in West Virginia where it gathers natural gas under a long-term and fee-based contract with Antero. As of December 31, 2016, the Mountaineer Midstream system consisted of newly constructed, high-pressure natural gas gathering pipelines ranging from 8 inches to 20 inches in diameter and two compressor stations. This liquids-rich natural gas gathering and compression system serves as an inlet to MPLX's Sherwood Processing Complex, a destination for liquids-rich natural gas in northern West Virginia, which provides downstream access to Midwest, mid-Atlantic and northeast regions of the United States. The Mountaineer Midstream system provides midstream services for the Marcellus Shale segment.

Company Address

Summit Midstream Partners LP

1790 Hughes Landing Blvd Ste 500
THE WOODLANDS   TX   77380-1693
P: +1832.4134770
F: +1800.9894671

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