Summit Midstream (NYSE: SMC) boosts Double E capacity and Williston crude acreage
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Summit Midstream Corporation filed a current report describing strong commercial momentum on two key growth platforms: the Double E natural gas pipeline in the Permian and its crude oil gathering systems in the Williston Basin.
For Double E, the company has executed three new long-term firm transportation agreements totaling 250 MMcf/d during a binding open season and entered into a firm option agreement for an additional 200 MMcf/d. With these commitments and an affirmative FID notice tied to a prior 230 MMcf/d agreement, Double E’s total contracted firm capacity has risen to about 1.9 Bcf/d. The planned Compression Expansion would increase pipeline capacity by roughly 50%, from about 1.6 Bcf/d to about 2.4 Bcf/d, with a targeted in-service date at the end of 2028.
In the Williston Basin, Summit signed a new crude oil gathering agreement in Divide County, North Dakota, covering a 40,000-acre area of dedication and supporting 15 new four-mile lateral well connects expected by year-end 2026. Management notes that, over the past six months, dedicated crude gathering acreage has expanded by more than 240,000 acres as development activity migrates toward the company’s existing footprint.
Positive
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Negative
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Insights
Summit adds contracted volume and acreage, supporting its growth projects.
Summit Midstream highlights growing demand on its Double E Pipeline and Williston crude systems. Executed long-term firm transportation agreements totaling 250 MMcf/d, plus a 200 MMcf/d option and prior 230 MMcf/d, bring Double E’s contracted firm capacity to about 1.9 Bcf/d.
The planned Compression Expansion would lift Double E’s capacity by about 50%, from roughly 1.6 Bcf/d to 2.4 Bcf/d, with a targeted in-service date at the end of 2028. The company has already ordered gas turbine compressors, indicating commitment ahead of a formal final investment decision expected by the end of summer 2026.
In the Williston, a new crude gathering agreement adds a 40,000-acre area of dedication and 15 four-mile laterals expected by year-end 2026, contributing to more than 240,000 acres of additional dedicated crude gathering acreage over six months. Future company filings may show how these contracted volumes and acreage translate into throughput and cash flow as the projects advance.
8-K Event Classification
2 items: 7.01, 9.01
2 items
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
New firm transportation agreements: 250 MMcf/d
Firm option capacity: 200 MMcf/d
Prior firm transportation agreement: 230 MMcf/d
+5 more
8 metrics
New firm transportation agreements
250 MMcf/d
Long-term binding agreements executed during Double E open season
Firm option capacity
200 MMcf/d
Option agreement for additional Double E capacity
Prior firm transportation agreement
230 MMcf/d
Previously announced Double E agreement with affirmative FID notice
Total contracted firm capacity
1.9 Bcf/d
Double E contracted capacity after new agreements and FID notice
Planned capacity increase
1.6 to 2.4 Bcf/d
Double E Compression Expansion, about 50% uplift
New Williston acreage dedication
40,000 acres
Area of dedication in Divide County crude gathering agreement
New lateral well connects
15 four-mile laterals
Expected connections by year-end 2026 under new Williston agreement
Recent acreage growth
240,000+ acres
Increase in dedicated crude gathering acreage over past six months
Key Terms
firm transportation agreements, binding open season, final investment decision, area of dedication, +1 more
5 terms
firm transportation agreements financial
"we have now executed three long-term firm transportation agreements totaling 250 MMcf/d"
Firm transportation agreements are contracts that guarantee a customer reserved capacity to move commodities (commonly natural gas, oil, or refined products) through a pipeline or transport network for a set period in exchange for fixed payments. They matter to investors because they create predictable, often long-term revenue for the transporter while reducing delivery risk for the shipper — like renting a locked parking space that provides steady income to the owner and reliable access to the renter, which influences cash flow, risk and valuation.
binding open season financial
"As part of the ongoing binding open season for Double E’s Compression Expansion project"
A binding open season is a set period when a project owner offers future capacity or service and potential customers sign legally enforceable contracts committing to pay for that capacity, whether they actually use it or not. For investors it matters because those firm commitments function like pre-sold revenue: they demonstrate demand, make project cash flows more predictable, and help secure financing and reduce the risk that the asset will be idle — like selling season tickets in advance to justify building a stadium.
final investment decision financial
"The Company expects to reach a formal final investment decision by the end of summer 2026."
A final investment decision is the point at which a person or organization chooses to move forward with a particular project or purchase after reviewing all the necessary information and options. It is like deciding to buy a house after considering all the costs, benefits, and alternatives. This decision is important because it determines whether and when the investment will be made, impacting future financial plans and outcomes.
area of dedication financial
"The agreement includes a 40,000-acre area of dedication contiguous to Summit’s existing Polar and Divide systems"
midstream energy infrastructure assets financial
"focused on developing, owning and operating midstream energy infrastructure assets that are strategically located"
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 8, 2026
(Exact name of registrant as specified in its charter)
| (State or other jurisdiction | (Commission | (IRS Employer | ||||||||||||
| of incorporation) | File Number) | Identification No.) | ||||||||||||
(Address of principal executive office) (Zip Code)
(Registrants’ telephone number, including area code): (832 ) 413-4770
Not applicable
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Securities registered pursuant to Section 12(b) of the Securities Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company | ||||||||
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 7.01. Regulation FD Disclosure.
On June 8, 2026, Summit Midstream Corporation (the “Company”) issued a press release announcing continued commercial execution across two of its key growth platforms, the Double E Pipeline in the Permian Basin and its crude oil gathering systems in the Williston Basin. The full text of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.
The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of Section 18, and shall not be incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as set forth by specific reference in such filing.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
| Exhibit Number | Description | |||||||
| 99.1 | Press Release, dated June 8, 2026. | |||||||
| 104 | Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document | |||||||
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Summit Midstream Corporation | |||||||||||
| (Registrant) | |||||||||||
| Dated: | June 10, 2026 | /s/ James Johnston | |||||||||
| James Johnston, Executive Vice President, General Counsel and Chief Compliance Officer | |||||||||||
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EXHIBIT 99.1
 | Summit Midstream Corporation 910 Louisiana Street, Suite 4200 Houston, TX 77002 | ||||
Summit Midstream Secures Additional Double E Commitments and
Extends Open Season Amid Strong Shipper Demand
Houston, Texas (June 8, 2026) – Summit Midstream Corporation (NYSE: SMC) (“Summit,” “SMC” or the “Company”) today announced continued commercial execution across two of its key growth platforms, the Double E Pipeline in the Permian Basin and its crude oil gathering systems in the Williston Basin.
Highlights
•Executed two new long-term firm transportation agreements totaling 150 MMcf/d, bringing total Double E open season commitments to 250 MMcf/d and total contracted capacity to approximately 1.9 Bcf/d
•Extended Double E open season to June 30, 2026 given significant inbound interest; advanced discussions ongoing with multiple shippers in excess of available expansion capacity
•Expect to FID Double E compression expansion by end of the summer; executed purchase order to secure turbine compressor units to maintain end of 2028 project in-service date
•Executed a new crude gathering agreement in Divide County, North Dakota with more than 40,000-acre area of dedication; 15 new four-mile lateral well connects expected during fourth quarter 2026
Management Commentary
Heath Deneke, President, Chief Executive Officer and Chairman, commented, "We are very pleased with the progress we are making on obtaining commercial commitments to support the previously announced Double E Compression Expansion project and we remain on track to reach a project FID by the end of this summer. To date, we have executed 250 MMcf/d of long-term binding agreements during the open season with multiple Shippers. We have also entered into a firm option agreement to provide an additional 200 MMcf/d of capacity for a certain Shipper. Additionally, we continue to advance discussions with multiple Shippers, which collectively, have expressed interest well in excess of the 800 to 900 MMcf/d of expansion capacity. As a result, we have extended the open season through June 30 while we continue to work on securing additional binding commitments. The remaining available expansion capacity will be awarded on a first-come, first-served basis to Shippers that execute a binding precedent agreement.
"In the Williston, today's announced commercial agreement is another example of Summit capturing growth as development activity in the basin continues to migrate towards our operating footprint in Williams and Divide Counties. With this additional long-term crude gathering agreement, we have now expanded our dedicated acreage footprint by more than 240,000 acres in just the past six months."
Double E Pipeline — Compression Expansion Open Season Update
As part of the ongoing binding open season for Double E’s Compression Expansion project, we have now executed three long-term firm transportation agreements totaling 250 MMcf/d and we have entered into a firm option agreement for an additional 200 MMcf/d of capacity which may be executed by the Shipper this summer. Additionally, we have received an affirmative FID notice on a processing plant expansion from the Shipper on the previously announced 230 MMcf/d firm transportation agreement. With the 250 MMcf/d of new binding agreements entered into thus far during the open season and the affirmative FID on the previously announced 230 MMcf/d firm transportation agreement, Double E’s total contracted firm capacity has increased to approximately 1.9 Bcf/d.
As a result of the ongoing significant level of interest received from prospective Shippers, Double E has extended the binding open season through June 30, 2026. The Company believes the expansion capacity could
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ultimately be oversubscribed and is awarding available capacity to Shippers that execute binding precedent agreements on a first-come, first-served basis.
Double E’s Compression Expansion project would increase the pipeline’s capacity by approximately 50%, from approximately 1.6 Bcf/d to approximately 2.4 Bcf/d. The Company expects to reach a formal final investment decision by the end of summer 2026. In advance of the FID, Double E has recently executed a purchase order to acquire gas turbine compressors to secure the long lead time equipment necessary for the project and maintain the Company’s end of 2028 targeted in-service date. Additionally, Double E anticipates filing its 7c certificate application with the Federal Energy Regulatory Commission later this year.
Williston Basin — New Crude Oil Gathering Agreement
Summit has executed a new crude oil gathering agreement with a producer in Divide County, North Dakota. The agreement includes a 40,000-acre area of dedication contiguous to Summit’s existing Polar and Divide systems, and the Company expects to connect 15 four-mile lateral wells associated with the agreement by year-end 2026.
This agreement is similar in structure to the new crude oil gathering agreement Summit announced in its fourth quarter 2025 earnings results. Taken together, these agreements reflect increasing operator engagement in the northern and western portions of the Williston Basin, where Summit’s infrastructure is well positioned to service incremental development as activity migrates towards our operating footprint in Williams and Divide counties. Summit remains well positioned to continue to expand its customer base and contracted dedicated acreage position as operators continue to pursue 3- and 4-mile lateral development programs in these areas.
About Summit Midstream Corporation
SMC is a value-driven corporation focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in the continental United States. SMC provides natural gas, crude oil and produced water gathering, processing and transportation services pursuant to primarily long-term, fee-based agreements with customers and counterparties in five unconventional resource basins: (i) the Williston Basin, which includes the Bakken and Three Forks shale formations in North Dakota; (ii) the Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in Colorado and Wyoming; (iii) the Fort Worth Basin, which includes the Barnett Shale formation in Texas; (iv) the Arkoma Basin, which includes the Woodford and Caney shale formations in Oklahoma; and (v) the Piceance Basin, which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado. SMC has an equity method investment in Double E Pipeline, LLC, which provides interstate natural gas transportation service from multiple receipt points in the Delaware Basin to various delivery points in and around the Waha Hub in Texas. SMC is headquartered in Houston, Texas.
Forward-Looking Statements
This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements and may contain the words "expect," "intend," "plan," "anticipate," "estimate," "believe," "will be," "will continue," "will likely result," and similar expressions, or future conditional verbs such as "may," "will," "should," "would" and "could." In addition, any statement concerning future financial performance (including future revenues, earnings or growth rates), repurchases of the Company’s common stock, payment of dividends on any series of stock, ongoing business strategies and possible actions taken by SMC or its subsidiaries are also forward-looking statements. Forward-looking statements also contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management's control) that may cause SMC's actual results in future periods to differ materially from anticipated or projected results. An extensive list of specific material risks and uncertainties affecting SMC is contained in its 2025 Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission on March 16, 2026, as amended and updated from time to time. Any forward-looking statements in this press release are made as of the date of this press release and SMC undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.
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Contact: 832-413-4770, ir@summitmidstream.com
SOURCE: Summit Midstream Corporation
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FAQ
What did Summit Midstream Corporation (SMC) announce about the Double E Pipeline?
Summit Midstream announced new long-term firm transportation agreements totaling 250 MMcf/d on the Double E Pipeline, plus a 200 MMcf/d option and a prior 230 MMcf/d commitment, increasing Double E’s contracted firm capacity to about 1.9 Bcf/d during its ongoing Compression Expansion open season.
How much will the Double E Compression Expansion increase pipeline capacity for SMC?
The Double E Compression Expansion is expected to increase capacity by about 50%, from approximately 1.6 Bcf/d to about 2.4 Bcf/d. Summit Midstream targets an end-of-2028 in-service date and has already ordered gas turbine compressors to secure long-lead equipment for the project.
When does Summit Midstream expect to reach final investment decision on the Double E expansion?
Summit Midstream expects to reach a formal final investment decision on the Double E Compression Expansion by the end of summer 2026. The company has extended the binding open season through June 30, 2026, amid strong shipper interest and is awarding remaining capacity on a first-come, first-served basis.
What new crude oil gathering agreement did SMC sign in the Williston Basin?
Summit Midstream signed a new crude oil gathering agreement in Divide County, North Dakota, covering a 40,000-acre area of dedication. The company expects to connect 15 four-mile lateral wells associated with this agreement by year-end 2026, expanding its footprint in the northern and western Williston Basin.
How much has Summit Midstream’s dedicated crude gathering acreage grown recently?
Summit Midstream reports that its dedicated crude gathering acreage has expanded by more than 240,000 acres over the past six months. This growth reflects increased operator activity in northern and western parts of the Williston Basin, where Summit’s existing Polar and Divide systems are already in place.
Why did SMC extend the Double E Pipeline open season to June 30, 2026?
Summit Midstream extended the Double E Compression Expansion binding open season to June 30, 2026, due to significant inbound interest from multiple shippers. The company notes that demand may exceed the 800–900 MMcf/d expansion capacity and is awarding available capacity to shippers on a first-come, first-served basis.