Summit Midstream 3Q Update – Considers Selling Part or All of Co.

Summit Midstream Partners, formed in 2009 and headquartered in The Woodlands, Texas, operates natural gas, crude oil, and produced water gathering (pipeline) systems in several unconventional shale plays, including the Marcellus and Utica. On Tuesday, the company issued an operational update based on third-quarter results (no financials, just operations). The company saw significant quarterly volume growth across nearly every segment, including 19% volume growth in its Northeast (Marcellus/Utica) segment. However, the big news from the update is that the company has received overtures to buy some or all of the entire company. The Summit board is now actively considering those offers.

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