Summit Midstream Corp (SMC) News & EventsSMCNews & EventsSummit Midstream Corp

Company Increases FY26 CapEx to $100M-$120M

Increases FY26 CapEx to $100M-$120M to reflect additional high-returning growth projects in the Rockies and Permian Segments. Heath Deneke, President, CEO, commented, "Another encouraging development this quarter has been the acceleration of activity in the Williston Basin. Six rigs are running behind our system today, the most active drilling program we have seen in the basin in several years. Since the end of the second quarter, we have connected 17 new wells, nine of which we serve with both crude oil and produced water gathering. We've also identified approximately 30 incremental well connections in the Williston Basin that were not part of our original plan, a result of our recent commercial success in the basin and existing customers accelerating their development activity. These wells are expected to connect primarily in the fourth quarter, so we expect minimal impact on 2026 results, but they position us well for a strong start to 2027. With a solid first half behind us and customer activity accelerating across the footprint, we have better visibility into our second-half volume profile. We are tightening our full-year 2026 Adjusted EBITDA guidance to $235M-$255M and increasing total capital expenditures, including Double E, to $100M-$120M to reflect additional high-returning growth projects in the Rockies and Permian Segments."

Q2 Revenue Reaches $155.013M, Up from Last Year

Reports Q2 revenue $155.013M vs. $140.217M last year, consensus $. Heath Deneke, President, CEO and Chairman, commented, "Customer activity ramped up meaningfully across our footprint during the second quarter with 36 new well connections, driving a 12% increase in Adjusted EBITDA relative to the first quarter. Our Rockies Segment accounted for the majority of the increase, while Mid-Con delivered a nearly 10% volume increase on strong well performance in both the Barnett and Arkoma, giving us added confidence in the segment's trajectory for the remainder of the year. We also executed new firm transportation agreements on Double E and a new crude gathering agreement in Divide County, North Dakota, further strengthening our long-term growth outlook. We continue to have a tremendous amount of customer interest in the ongoing Double E - Mainline Compression Expansion open season. We have extended the open season through the end of August as we work on finalizing additional firm transportation agreements to support the project and we expect to be in a position to make a final investment decision prior to its conclusion."

Summit Midstream Launches $35M Stock Repurchase Program

Summit Midstream announced that its Board of Directors has authorized the company's inaugural stock repurchase program to repurchase up to $35M of the company's outstanding common stock.