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Summit Midstream and ExxonMobil formed Double E Pipeline joint venture.

Synopsis

Summit Midstream, a growth-oriented limited partnership focused on developing, owning and operating midstream energy infrastructure assets, and ExxonMobil, an American multinational oil and gas corporation, formed Double E Pipeline joint venture. Summit holds a 70% ownership interest and ExxonMobil holds a 30% ownership interest in the joint venture. Financial terms were not disclosed. "The Double E Project will serve an infrastructure-constrained area, alleviate natural gas flaring, and provide access to growing markets along the U.S. Gulf Coast. Double E is a marquee project for SMLP, and when combined with our existing gathering and processing operations in the Permian Basin, promotes our strategy of achieving scale, diversifying our operations downstream of wellhead gathering, and becoming more integrated in our Core Focus Areas," Leonard Mallett, Summit interim President and Chief Executive Officer.

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