Summit Midstream Partners, LP Announces Commencement of Service on Double E Pipeline
Summit Midstream Partners, LP (SMLP) announced the commencement of operations for its Double E Pipeline, a 135-mile natural gas pipeline in New Mexico and Texas. SMLP holds a 70% equity interest in the joint venture, which provides 1.35 billion cubic feet per day of gas transportation capacity. The pipeline aims to alleviate production constraints in the Delaware Basin, where 80 rigs are currently operational, up from 45 in Q3 2020. The project was completed safely, on schedule, and under budget, marking a significant milestone for SMLP.
- Commencement of operations for Double E Pipeline, enhancing natural gas transportation capacity by 1.35 billion cubic feet per day.
- SMLP holds a 70% equity interest in the joint venture, maximizing potential revenue streams.
- Successful completion of the project on schedule and under budget, demonstrating operational efficiency.
- None.
HOUSTON, Texas, Nov. 18, 2021 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) (the "Partnership") announced today that Double E Pipeline, LLC ("Double E"), a joint venture in which SMLP owns a
Heath Deneke, President, Chief Executive Officer and Chairman, commented, "I'm extremely proud of and grateful for our Double E project team members and joint venture partner, who have all dedicated countless hours over the past four years to ensure that Double E was completed safely, on schedule, under budget and in an environmentally and socially responsible manner. Double E provides 1.35 billion cubic feet per day of residue gas transportation capacity to producers, processors and other prospective shippers in a capacity constrained region of New Mexico, where 80 rigs are currently operating, up from 45 rigs in 3Q 2020. Our investment in Double E drives a tremendous amount of value uplift for the Partnership going forward and we are excited to bring this critical residue gas outlet online to debottleneck growing natural gas production in the northern Delaware Basin."
For commercial inquiries about securing capacity on Double E, please contact Paul Passino at (832) 930-7519 or paul.passino@summitmidstream.com.
About Summit Midstream Partners, LP
SMLP is a value-driven limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in unconventional resource basins, primarily shale formations, in the continental United States. SMLP provides natural gas, crude oil and produced water gathering services pursuant to primarily long-term and fee-based gathering and processing agreements with customers and counterparties in six unconventional resource basins: (i) the Appalachian Basin, which includes the Utica and Marcellus shale formations in Ohio and West Virginia; (ii) the Williston Basin, which includes the Bakken and Three Forks shale formations in North Dakota; (iii) the Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in Colorado and Wyoming; (iv) the Permian Basin, which includes the Bone Spring and Wolfcamp formations in New Mexico; (v) the Fort Worth Basin, which includes the Barnett Shale formation in Texas; and (vi) the Piceance Basin, which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado. SMLP has an equity investment in Double E Pipeline, LLC, which provides natural gas transportation service from multiple receipt points in the Delaware Basin to various delivery points in and around the Waha Hub in Texas. SMLP also has an equity investment in Ohio Gathering, which operates extensive natural gas gathering and condensate stabilization infrastructure in the Utica Shale in Ohio. SMLP is headquartered in Houston, Texas.
Forward-Looking Statements
This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements and may contain the words "expect," "intend," "plan," "anticipate," "estimate," "believe," "will be," "will continue," "will likely result," and similar expressions, or future conditional verbs such as "may," "will," "should," "would," and "could." Forward-looking statements also contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management's control) that may cause SMLP's actual results in future periods to differ materially from anticipated or projected results. An extensive list of specific material risks and uncertainties affecting SMLP is contained in its 2020 Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 4, 2021, as amended and updated from time to time. Any forward-looking statements in this press release, are made as of the date of this press release and SMLP undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.
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SOURCE Summit Midstream Partners, LP
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