One-Page Deal Sheet
Summit Midstream Makes Bakken and Marcellus Acquisitions
Summit Midstream Partners, Lp Not Disclosed
Announced Date
June 05,2013
Close Date
June 05,2013
Transaction Type
Asset
Location
Region
North America,Northeast,Williston Basin
Country
United States
State
Pennsylvania
Play
Transaction Details: Require Private Equity Subscription
Summit Midstream Partners, LP today announced two separate
acquisitions of unrelated natural gas gathering systems totaling $460 million in the Bakken and Marcellus shale plays. The transactions will be financed under SMLP’s recently upsized $600 million revolving credit facility and the issuance of $150 million of common units and general partner interests in SMLP to wholly-owned subsidiaries of Summit Midstream Partners, LLC (“Summit Investments”). SMLP expects these transactions to be immediately accretive to distributable cash flow on a per unit basis.
Bison Midstream, LLC (“Bison”) is…