Sector: Energy | Industry: Oil & Gas Transportation Services |
See Regulatory Filings on SEC |
Company Contact | |
Address: | 910 Louisiana Street, Suite 4200 HOUSTON TX 77002 |
Tel: | N/A |
Website: | www.summitmidstream.com |
IR: | See website |
Key People | ||
J. Heath Deneke Chairman of the Board, President, Chief Executive Officer of General Partner | William J. Mault Executive Vice President, Chief Financial Officer of General Partner | James David Johnston Executive Vice President, Chief Compliance Officer, General Counsel, Secretary of the General Partner | Matthew B. Sicinski Senior Vice President, Chief Accounting Officer of General Partner |
Business Overview |
Summit Midstream Partners, LP is a limited partnership focused on development, owning, and operating midstream energy infrastructure assets, primarily shale formations, in the continental United States. Its segments include Rockies, Permian, Northeast, Piceance and Barnett. It provides natural gas, crude oil and produced water gathering, processing and transportation services pursuant to primarily long-term, fee-based agreements with customers and counterparties in five unconventional resource basins: the Appalachian Basin, which includes the Marcellus shale formation in West Virginia; the Williston Basin, which includes the Bakken and Three Forks shale formations in North Dakota; the Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in Colorado and Wyoming; the Fort Worth Basin, which includes the Barnett Shale formation in Texas; and the Piceance Basin that includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado. |
Financial Overview |
For the fiscal year ended 31 December 2023, Summit Midstream Partners LP revenues increased 24% to $458.9M. Net loss applicable to common stockholders decreased 51% to $63.1M. Revenues reflect Rockies segment increase of 78% to $255M, Northeast segment increase of 17% to $63.8M. Lower net loss reflects Long-lived asset impairment decrease of 99% to $540K (expense), Equity Earnings '�� Net of Income Tax increase of 86% to $33.8M (earnings). |
Employees: | 244 as of Dec 31, 2023 |
Reporting Currency: | U.S. Dollars |
Enterprise value: | $1,972M as of Dec 31, 2023 |
Annual revenue (TTM): | $458.90M as of Dec 31, 2023 |
EBITDA (TTM): | $204.52M as of Dec 31, 2023 |
Net annual income (TTM): | -$63.09M as of Dec 31, 2023 |
Free cash flow (TTM): | $51.49M as of Dec 31, 2023 |
Net Debt Last Fiscal Year: | $1,457M as of Dec 31, 2023 |
Shares outstanding: | 10,415,675 as of Mar 1, 2024 |
TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization |