I analyze oil and gas companies and related companies like Summit Midstream in my service, Oil & Gas Value Research, where I look for undervalued names in the oil and gas space. I break down everything you need to know about these companies -- the balance sheet, competitive position and development prospects. This article is an example of what I do. But for Oil & Gas Value Research members, they get it first and they get analysis on some companies that is not published on the free site. Interested? Sign up ...

Retirement is complicated and you only get once chance to do it right. Don't miss out because you didn't know what was out there.The Retirement Forum provides actionable ideals, a high-yield safe retirement portfolio, and macroeconomic outlooks, all to help you maximize your capital and your income. We search the entire market to help you maximize returns.Summit Midstream Corp. (NYSE: SMC ) saw a strong recovery over the past several years, as it's continued to improve its financial position. Since then, ho ...

Corporate Reorganization - Summit Midstream Partners, LP will complete its conversion from a master limited partnership to a C-corporation on August 1, 2024, with unitholders becoming shareholders of Summit Midstream Corporation [1] - The common stock will begin trading on the New York Stock Exchange under the ticker symbol "SMC" on the same date [1] - The Corporate Reorganization was approved by unitholders at a Special Meeting held on July 18, 2024 [1] Share Exchange Details - Each of the 10,648,685 common units will be exchanged for one share of common stock of New Summit, with a par value of $0.01 [2] - Additionally, 65,508 Series A Fixed-to-Floating Rate Cumulative Redeemable Perpetual Preferred Units will be exchanged for one share of Series A Floating Rate Cumulative Redeemable Perpetual Preferred Stock, also with a par value of $0.01 [2] - New Summit does not plan to list the Series A Preferred Stock on any securities exchange [2] Company Overview - Summit Midstream Partners, LP focuses on developing, owning, and operating midstream energy infrastructure assets in key unconventional resource basins in the continental United States [3] - The company provides natural gas, crude oil, and produced water gathering, processing, and transportation services under long-term, fee-based agreements [3] - Key operational areas include the Williston Basin, Denver-Julesburg Basin, Fort Worth Basin, and Piceance Basin [3]

HOUSTON, July 23, 2024 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit," "SMLP" or the "Partnership") announced today the results and the pricing terms of the previously announced cash tender offer (the "Tender Offer") by Summit Midstream Holdings, LLC ("Holdings") and Summit Midstream Finance Corp. (together with Holdings, the "Issuers"), which are subsidiaries of the Partnership, to purchase any and all of their outstanding 8.500% Senior Secured Second Lien Notes due 2026 (the "Notes") ...

Hans-Peter Merten Summit Midstream (NYSE:SMLP) has had a busy couple of months. Following the asset sales in the Marcellus Basin, the company has completely restructured its debt, thereby lowering interest expense and boosting future cash flows. I believe the lower and now extended maturity debt plus higher cash flows will allow the company to pay accrued preferred distributions and then recommence common distribution. Also, yesterday (Thursday July 18th), the company's shareholders voted to convert from an ...

Summit unitholders voted to approve the Corporate Reorganization with more than 88% of votes cast in favor of the Corporate Reorganization proposal. Unitholders also voted to approve all other proposals presented at the Special Meeting. Summit will file the final results of the Special Meeting with the Securities and Exchange Commission on a Form 8-K, after certification of the voting results by the independent Inspector of Elections for the Special Meeting. The anticipated effective date of the transaction ...

It is expected that the New Notes will be guaranteed on a senior second-priority basis by the Partnership and certain of the Partnership's existing and future subsidiaries and will initially be secured on a second-priority basis by substantially the same collateral that is pledged for the benefit of the Partnership's lenders under the ABL Facility. SMLP is a value-driven limited partnership focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in t ...

Certain information regarding the Notes and the U.S. Treasury Reference Security, the Bloomberg reference page and the fixed spread is set forth in the table below. The Tender Offer will expire at 5:00 P.M., New York City time, on July 23, 2024, unless extended or earlier terminated by the Issuers in their sole discretion (such date and time, as the same may be extended, the "Expiration Time"). Tendered Notes may be withdrawn prior to or at the earlier of (i) the Expiration Time, and (ii) if the Tender Offe ...

HOUSTON, July 17, 2024 /PRNewswire/ -- Summit Midstream Partners, LP (NYSE: SMLP) ("Summit," "SMLP" or the "Partnership") announced today that Summit Midstream Holdings, LLC (the "Issuer"), which is a subsidiary of the Partnership, has commenced an offering (the "Offering") of $500 million in aggregate principal amount of new Senior Secured Second Lien Notes due 2029 (the "New Notes"). The Partnership intends to use the net proceeds from the Offering, together with cash on hand and borrowings under the Part ...

Schedules July 18th Special Meeting for Unitholder Approval: Recommends Common Unitholders Vote "FOR" C-Corporation Conversion Heath Deneke, President, Chief Executive Officer, and Chairman, commented, "After carefully considering a wide range of opportunities, the Board is confident that reorganizing to a C-corporation is in the best interests of Summit and all unitholders. The transaction will reduce unitholders' tax burden; simplify Summit's structure to make the equity easier to own; enhance trading liq ...