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Slide #89. Summit Midstream Partners, LLC — Bear Tracker Energy, LLC
Summit Midstream Partners, LLC (NYSE:SMLP)
Bear Tracker Energy, LLC
Summit Midstream Partners, LLC announced today that it closed the previously announced acquisition of Bear Tracker Energy, LLC on February 15, 2013. Summit Investments owns and controls the general partner of Summit Midstream Partners, LP (NYSE: SMLP) as well as a 69.1% limited partner interest in SMLP. The acquisition was fully funded with an equity investment from Energy Capital Partners, the majority owner of Summit Investments. In conjunction with the closing, the acquired company has been renamed Meadowlark Midstream Company, LLC.
Summit Midstream Partners develops, owns and operates midstream energy infrastructure assets that are located in unconventional resource basins. Co.'s systems gather natural gas from pad sites, wells and central receipt points connected to its systems. Gathered natural gas volumes are then compressed, dehydrated, treated and/or processed for delivery to downstream pipelines serving processing plants and/or end users. Co. also contracts with producers to gather crude oil and produced water from wells connected to its systems for delivery to downstream pipelines and third-party rail terminals in the case of crude oil and to third-party disposal wells in the case of produced water.
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