.
MergerLinks Header Logo

Announced

Completed

Summit Midstream Partners completed the acquisition of Outrigger DJ and Sterling DJ for $305m.

Financials

Edit Data
Transaction Value£272m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

Edit

Friendly

Single Bidder

crude oil gathering

Oil: Crude Producers

Majority

Private

Domestic

Acquisition

United States

Infrastructure

Completed

Synopsis

Edit

Summit Midstream Partners, a growth-oriented master limited partnership, completed the acquisition of Outrigger DJ and Sterling DJ, which own natural gas gathering and processing systems, a crude oil gathering system, freshwater rights, and a subsurface freshwater delivery system in the DJ Basin, for $305m. “The robust midstream system we developed in the DJ Basin proved attractive to potential purchasers and this transaction with Summit delivers a positive outcome for our customers, employees, and investors. Further, the system’s extensive high-pressure gas gathering footprint provides an excellent platform for interconnectivity with multiple midstream systems in the DJ Basin, including Summit’s system. We have confidence that Summit’s experienced team will provide excellent service to the producer community and continued efficient consolidation and operation of midstream assets in the basin," Dave Keanini, Outrigger President and CEO.

© COPYRIGHT 2024 MERGERLINKS LIMITED.

ALL RIGHTS RESERVED.

15 BONHILL STREET, LONDON, EC2A 4DN, UNITED KINGDOM.

CONTACT US