Summit Midstream Partners, LP (NYSE: SMLP) today announced that it has commenced an underwritten public offering of 8,000,000 common units representing limited partner interests in SMLP, of which 5,300,000 common units are being offered by SMLP and 2,700,000 common units are being offered by Summit Midstream Partners Holdings, LLC ("SMP Holdings"), pursuant to an effective shelf registration statement on Form S-3 previously filed with the Securities and Exchange Commission (the "SEC"). The underwriters will be granted a 30-day option to purchase up to an additional 1,200,000 common units from SMP Holdings.
Summit Midstream Partners is engaged in owning and operating midstream energy infrastructure assets that are located in the core producing areas of unconventional resource basins, primarily shale formations, in North America. As of Dec 31 2012, Co. operated in two unconventional resource basins: the Piceance Basin, which includes the Mesaverde formation and the Mancos and Niobrara shale formations in western Colorado; and the Fort Worth Basin, which includes the Barnett Shale formation in north-central Texas. Co.'s midstream assets consist of two natural gas gathering systems, the Grand River system in western Colorado and the DFW Midstream system in north-central Texas.
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