Summit Midstream 2019 – Flowed Less Gas, Made Less Cash

Summit Midstream Partners, formed in 2009 and headquartered in The Woodlands, Texas, operates natural gas, crude oil and produced water gathering (pipeline) systems in six unconventional resource basins, including the Marcellus and Utica. The company concentrates its time and money on four “core focus areas” including the Utica, the Williston (i.e. Bakken), the DJ Basin and the Permian. The Marcellus is part of the company’s “legacy” systems that don’t get as much love (and money). Last week the company issued its 4Q and full-year 2019 update. We will summarize it this way: Summit flowed less gas and consequently made less cash in 2019 than it did in 2018.

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