Log in
E-mail
Password
Show password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

SUMMIT MIDSTREAM PARTNERS, LP

(SMLP)
  Report
Delayed Quote. Delayed Nyse - 10/15 04:10:00 pm
36.63 USD   -2.53%
10/13Energy Stocks Slip Premarket Wednesday
MT
10/13SUMMIT MIDSTREAM PARTNERS LP : Energy
MT
10/13SUMMIT MIDSTREAM PARTNERS LP : Units Launch $700 Million Debt Offering
MT
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector news

Summit Midstream Resolves Investigations of North Dakota Water Spill

08/06/2021 | 11:27am EDT

By Josh Beckerman

Summit Midstream Partners LP said Thursday that it entered criminal and civil agreements to resolve investigations related to a North Dakota water spill, with $36.3 million of penalties to be paid over six years.

The U.S. Department of Justice said the settlement involves Summit Midstream Partners LLC and Meadowlark Midstream Co. LLC. As a result of transactions in 2016 and 2020, the two companies are now units of Summit Midstream Partners LP.

The DOJ said "Summit continued pumping produced water through the pipeline in 2014 to 2015 despite multiple warning signs that the line had ruptured."

According to the DOJ, a factual admission said "Summit's negligence included the design, construction and operation of the Marmon Water Gathering System pipeline, as well as the negligent failure to find and stop the spill after learning of objective signs of a leak."

In a press release, Summit said "as a company, we have accepted responsibility for the produced water spill at the Blacktail Creek site from the beginning and have been working diligently over the past seven years on efforts to fully remediate the environmental impacts to the area, while also investing heavily in preventative system improvements."

"Since discovering the spill in 2015, we have invested approximately $75 million on these overall system improvements and environmental remediation measures at the Blacktail Creek site," the company said.

Summit said "while we consider the overall monetary settlement penalties as severe under the circumstances, particularly given our substantial remediation and mitigation efforts to date, we believe that putting this matter behind us with manageable payment terms over the next six years is in the best interest of all of Summit's stakeholders and employees."

Summit units recently traded up 1% to $37.80.

Write to Josh Beckerman at josh.beckerman@wsj.com

(END) Dow Jones Newswires

08-06-21 1327ET

All news about SUMMIT MIDSTREAM PARTNERS, LP
10/13Energy Stocks Slip Premarket Wednesday
MT
10/13SUMMIT MIDSTREAM PARTNERS LP : Energy
MT
10/13SUMMIT MIDSTREAM PARTNERS LP : Units Launch $700 Million Debt Offering
MT
10/13SUMMIT MIDSTREAM PARTNERS LP : Announces Private Offering of $700 Million Senior Secured S..
PU
10/13SUMMIT MIDSTREAM PARTNERS, LP : Other Events, Financial Statements and Exhibits (form 8-K)
AQ
10/13SUMMIT MIDSTREAM PARTNERS, LP : Announces Private Offering of $700 Million Senior Secured ..
PR
10/13Summit Midstream Partners, LP Announces Private Offering of $700 Million Senior Secured..
CI
08/09SUMMIT MIDSTREAM PARTNERS LP : Reports Second Quarter 2021 Financial and Operating Results
AQ
08/09SUMMIT MIDSTREAM PARTNERS LP : Management's Discussion and Analysis of Financial Condition..
AQ
08/06Summit Midstream Resolves Investigations of North Dakota Water Spill
DJ
More news
Analyst Recommendations on SUMMIT MIDSTREAM PARTNERS, LP
More recommendations
Financials (USD)
Sales 2021 - - -
Net income 2021 - - -
Net Debt 2021 1 263 M - -
P/E ratio 2021 -9,34x
Yield 2021 -
Capitalization 247 M 247 M -
EV / Sales 2021 -
EV / Sales 2022 -
Nbr of Employees 220
Free-Float 91,6%
Chart SUMMIT MIDSTREAM PARTNERS, LP
Duration : Period :
Summit Midstream Partners, LP Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends SUMMIT MIDSTREAM PARTNERS, LP
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus UNDERPERFORM
Number of Analysts 3
Last Close Price 36,63 $
Average target price 27,00 $
Spread / Average Target -26,3%
EPS Revisions
Managers and Directors
J. Heath Deneke Chairman, President & Chief Executive Officer
Marc D. Stratton Chief Financial Officer & Executive Vice President
Hugo Guerrero Senior Vice President-Engineering & Operations
James D. Johnston Chief Compliance Officer, EVP & General Counsel
Jerry L. Peters Independent Director
Sector and Competitors
1st jan.Capi. (M$)
SUMMIT MIDSTREAM PARTNERS, LP193.27%247
ENBRIDGE INC.29.50%86 334
ENTERPRISE PRODUCTS PARTNERS L.P.23.79%52 996
TC ENERGY CORPORATION28.29%52 551
KINDER MORGAN, INC.35.04%41 840
THE WILLIAMS COMPANIES, INC.47.38%35 902