Summit Midstream Loses Key Executive – COO Rene Casadaban

I QuitA piece of interesting news today about Summit Midstream. Compared to midstream giants like MarkWest Energy, Williams and Access Midstream (now part of Williams, formerly Chesapeake Midstream), Summit has a pretty modest presence in the northeast. Summit’s Mountaineer Midstream gathering system is 49 miles long, operating in Doddridge and Harrison counties in WV. Last December Summit announced they’ve been hired by XTO Energy to build a new 115-mile pipeline gathering system in the Utica Shale in Belmont and Monroe counties in OH (see XTO Gets Serious in OH Utica, Hires Summit for Gathering System). Last September Summit issued 4 million new units (equivalent of shares of stock). They issued another 6 million units in May (see Summit Midstream – Update on Mountaineer, Floats Another 6.5M Units). The news today? Summit’s Chief Operating Officer, Rene Casadaban, is leaving at the end of September to “pursue other interests.” That is, he quit…

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