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Summit Midstream Corporation Completes Acquisition of Tall Oak Midstream III
Contract Type
acquisition
HoustonEnergyOil And GasDescription
Summit Midstream Corporation announced the completion of the previously announced acquisition of Tall Oak Midstream Operating, LLC and its subsidiaries from an affiliate of Tailwater Capital LLC for $155 million of cash, 7.5 million common units of the Partnership, and associated 7.5 million shares of SMC Class B Common Stock, along with up to $25 million contingent consideration in cash over certain measurement periods through March 31, 2026. This strategic acquisition marks a significant milestone in Summit's growth strategy, rebalancing its portfolio and increasing scale in a credit and value accretive manner.