SMLP - Summit Midstream Partners sells Bison gas gathering system in $40M deal

Summit Midstream Partners ( NYSE: SMLP ) said Monday it signed and closed the sale of the Bison Midstream gas gathering system in North Dakota to Steel Reef Infrastructure Corp. for $40M in cash.

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; vVolume throughput on the system is underpinned by acreage dedications from its key customers.

With the sale, Summit ( SMLP ) said its focus in the Williston Basin will center on growing its crude oil and produced water gathering systems primarily located in North Daokta's Williams and Divide counties.

Earlier this summer, Matador Resources bought Summit's Lane gathering and processing system in New Mexico's Delaware Basin for $75M .

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