Summit Midstream Corporation Reports Second Quarter 2025 Financial and Operating Results
Financial Performance: Summit Midstream Corporation reported a net loss of $4.2 million for Q2 2025, with adjusted EBITDA of $61.1 million and free cash flow of $9.2 million, while connecting 47 wells and maintaining an active customer base in various basins.
Operational Developments: The company is set to begin a 20-well drilling program in the Arkoma Basin by late 2025, has extended gathering agreements in the Williston Basin, and executed a new agreement for firm capacity on the Double E Pipeline, indicating ongoing growth and strategic expansion efforts.
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Summit Midstream Corporation Announces Financial and Operational Results for Q3 2025
Financial Performance: Summit Midstream Corporation reported a net income of $5.0 million and adjusted EBITDA of $65.5 million for Q3 2025, with a 7.2% increase in adjusted EBITDA from the previous quarter, driven by higher natural gas volumes in the Rockies segment.
Operational Highlights: The company connected 21 wells in the third quarter and maintained an active customer base with five drilling rigs, while the Double E Pipeline achieved record transportation volumes averaging 745 MMcf/d in September.
Future Outlook: Summit anticipates connecting approximately 50 additional wells in Q4 2025, with over 120 new well connects expected in the first half of 2026, indicating strong customer engagement and growth potential.
Capital and Liquidity: As of September 30, 2025, Summit had $24.6 million in unrestricted cash and $150 million drawn from its $500 million ABL Revolver, maintaining compliance with all financial covenants.
Summit Midstream Corporation Plans Earnings Call for Third Quarter 2025
Earnings Report Announcement: Summit Midstream Corporation will report its third quarter 2025 operating and financial results on November 10, 2025, after market close, followed by a conference call on November 11, 2025, at 10:00 a.m. Eastern.
Investor Conference Participation: SMC's senior management will attend the 2025 Bank of America Leverage Finance Conference and the 2025 Wells Fargo Energy & Power Symposium in December 2025, with presentation materials available on their website.
Company Overview: Summit Midstream Corporation focuses on developing and operating midstream energy infrastructure assets in key unconventional resource basins across the U.S., providing services related to natural gas, crude oil, and produced water.
Forward-Looking Statements: The press release includes forward-looking statements regarding future performance and strategies, which are subject to risks and uncertainties that may cause actual results to differ from projections.
