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Slideshow Mergers & Acquisitions

By The Online Investor Staff, updated Fri., Mar. 21, 11:59 AM

Slide #77. Summit Midstream Corporation Moonrise Midstream, LLC

Acquirer: Summit Midstream Corporation (NYSE:SMC)
Acquiree: Moonrise Midstream, LLC
Details: Summit Midstream Corporation (NYSE: SMC) ("Summit", "SMC" or the "Company") announced today that its wholly owned subsidiary, Summit Midstream Holdings, LLC ("SMP Holdings"), has acquired Moonrise Midstream, LLC ("Moonrise" or "Moonrise Midstream") from Fundare Resources Company Holdco, LLC ("Fundare") for a total consideration of $90 million, including $70 million in cash and $20 million in SMC equity. Summit also provided an operational update for its broader DJ Basin position.

Summit Midstream Corporation is a limited partnership that develops and operates midstream energy infrastructure in the U.S. It focuses on gathering, processing, and transporting natural gas, crude oil, and produced water through long-term agreements. Its segments include Rockies, Permian, Piceance, and Barnett, with key operations in the Williston Basin, Denver-Julesburg Basin, Fort Worth Basin, and Piceance Basin, strategically positioned to enhance energy production in these unconventional resource areas.

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Company Name:  Summit Midstream Corp
Website:  www.summitmidstream.com
Sector:  Oil & Gas Equipment & Services
Number of ETFs Holding SMC:  8
Total Market Value Held by ETFs:  $19.13M
Total Market Capitalization:  $399.00M
% of Market Cap. Held by ETFs:  4.79%
 

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March 21, 2025    11:59 AM Eastern
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