Summit Midstream completed the acquisition of Moonrise Midstream from Fundare Resources Company for $90m.

Summit Midstream, a growth-oriented limited partnership focused on owning and operating midstream energy infrastructure, completed the acquisition of Moonrise Midstream, a large-scale gas gathering and processing system, from Fundare Resources Company, an exploration and production company, for $90m. "We are pleased to announce the successful completion of this strategic bolt-on acquisition that further enhances our position in the DJ Basin. This acquisition not only expands our footprint and dedicated acreage in one of the most active areas of the DJ Basin but also provides incremental processing capacity that we expect to utilize in the coming years as volumes behind our legacy systems continue to grow. Following the acquisitions of the Outrigger and Sterling systems in December 2022, we have experienced significant volume growth behind our integrated DJ gathering and processing system and certain areas of our system are nearing full utilization," Heath Deneke, Summit Midstream President, CEO and Chairman.