Summit Midstream Corporation (NYSE:SMC) ("Summit", "SMC" or the "Company") announced today that Double E Pipeline, LLC ("Double E") has concluded a successful open season and reached a final investment decision on its previously announced mainline compression expansion project, supported by a new long-term firm transportation agreement with an investment-grade shipper.

Highlights

  • Reached a final investment decision on the mainline compression expansion, with an expected in-service date in the fourth quarter of 2028
     
  • Executed a new long-term take-or-pay firm transportation agreement with an investment-grade shipper for 200 MMcf/d, bringing total contracted firm capacity on Double E to approximately 2.2 Bcf/d
     
  • Converted the $50 million uncommitted accordion at Summit Permian Transmission to committed, bringing total committed financing capacity to $100 million and fully funding Summit's expected Double E capital contributions
     
  • Robust future growth opportunities associated with data center developments in Texas and New Mexico and connectivity with additional egress pipelines