Summit Midstream Sells Utica Pipeline Assets to MPLX for $625M

Summit Midstream Partners, LP, which owns midstream (pipeline) assets in a number of major plays across the country, including the Marcellus/Utica, announced on Friday the sale of the company's Ohio Utica assets, including its Summit Midstream Utica, LLC subsidiary, which includes its approximately 36% interest in Ohio Gathering Company, approximately 38% interest in Ohio Condensate Company, and other wholly-owned Utica assets. The sale was made to a subsidiary of MPLX LP (i.e., MarkWest Energy) for $625 million in cash. Summit will no longer own Utica assets in Ohio, but the company WILL retain (for now) its Marcellus assets in West Virginia.

---

To view this content, log into your member account. (Not a member? Join Today!)