Summit Midstream, until recently, has had midstream operations (pipelines, processing plants) in other major North American shale plays–but they are actively moving into the Marcellus and Utica Shale. In June MDN reported that Summit Midstream had purchased the Mountaineer Midstream gathering system from MarkWest Energy for $210 million in WV (see MarkWest Sells Doddridge County, WV Pipeline System to Raise Cash). On Friday, Summit purchased a significant joint venture share in the Ohio (Utica Shale) Gathering system for an undisclosed sum (although NGI’s Shale Daily is reporting the deal is worth $190 million). We have the Summit press release below, but it’s heavy and dense with joint venture this and partnership within partnership that.
Here’s the MDN simplified view of the deal…
