One-Page Deal Sheet
Summit to Drop Down Williston Midstream Assets
Bison Midstream Llc Summit Midstream Partners, Lp
Announced Date
May 06,2015
Transaction Type
Asset
Location
Region
North America,Williston Basin
Country
United States
State
North Dakota
Play
Transaction Details: Require Private Equity Subscription
Summit Midstream Partners, LP reported that its wholly owned subsidiary, Bison Midstream, LLC, will acquire the equity interests of certain subsidiaries of Summit Midstream Partners, LLC for total cash consideration of $255.0 million, subject to customary purchase price adjustments.
The assets to be acquired in the Acquisition include certain crude oil and produced water gathering systems and transmission pipelines located in the Williston Basin (the Polar & Divide system). Subject to the achievement of certain development milestones, SMLP will also have a six-month option to acquire a…