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home / news releases / SMLP - Summit Midstream Partners: The Market Has Yet To Understand Its Recent Success

SMLP - Summit Midstream Partners: The Market Has Yet To Understand Its Recent Success

Summit Midstream Partners LP Representing Limited Partner Interests

2024-04-09 05:21:00 ET

Summary

  • Summit Midstream Partners sold Utica and Northeast assets to MPLX for $625 million, reducing debt and improving liquidity.
  • The company's portfolio has become more focused on crude oil and the Double E pipeline, with adjusted EBITDA expected to be $200 million in 2024.
  • The company has $325 million in cash and may use it for distributions or bolt-on acquisitions, while also focusing on paying down debt.

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For further details see:

Summit Midstream Partners: The Market Has Yet To Understand Its Recent Success
Stock Information
Company Name: Summit Midstream Partners LP Representing Limited Partner Interests
Stock Symbol: SMLP
Market: NYSE
Website: summitmidstream.com
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