Summit Midstream Partners, LLC Announces Closing of Canyon Acquisition, Creation of Red Rock Gathering Company, LLC and New

   Summit Midstream Partners, LLC Announces Closing of Canyon Acquisition,
   Creation of Red Rock Gathering Company, LLC and New Rockies Development
                                   Projects

PR Newswire

DALLAS, Oct. 23, 2012

DALLAS, Oct. 23, 2012 /PRNewswire/ --Summit Midstream Partners, LLC ("Summit
Investments") announced today that it has closed the $207 million acquisition
of ETC Canyon Pipeline, LLC ("Canyon") from La Grange Acquisition, L.P., a
wholly-owned subsidiary of Energy Transfer Partners, L.P. Canyon gathers and
processes natural gas in the Piceance and Uinta Basins in Colorado and Utah,
primarily under long-term, fee-based agreements with more than 50 customers
including WPX Energy, Noble, Black Hills, Laramie, Encana, ExxonMobil, and
Antero. The gas gathering and processing system consists of more than 1,600
miles of pipe, 44,000 horsepower of compression, processing assets with a
total capacity of 97 MMcf/d, and two NGL injection stations.

(Logo: http://photos.prnewswire.com/prnh/20120927/MM82470LOGO)

The Canyon assets will be held in Red Rock Gathering Company, LLC ("Red
Rock"), a wholly-owned subsidiary of Summit Investments, which also owns a
gathering system in the Sand Wash Basin in northern Colorado that was acquired
in the second quarter of 2012. 

Steve Newby, President and Chief Executive Officer of Summit Investments said,
"We are excited about the addition of Canyon to Red Rock Gathering Company,
LLC. Red Rock solidifies our position in the Rockies as a premier midstream
operator and should allow the company to capture new business opportunities in
the region. We are particularly excited that this acquisition provides the
company with increased exposure to the liquid-rich parts of the Mancos and
Niobrara Shale formations in the Piceance Basin, where Canyon and Summit
Midstream Partners, LP, through its ownership of the Grand River natural gas
gathering system, operate. Red Rock also provides Summit Investments with
additional opportunities to capitalize on growth projects supporting
traditional Mesaverde formation production and new production in the Uinta and
Sand Wash Basins."

Summit Investments also announced today that Red Rock has two new fee-based
commercial agreements with WPX Energy Rocky Mountain, LLC and Black Hills
Exploration and Production, Inc. Each of these new agreements include
long-term acreage dedications and collectively provide more than 350 Bcf of
minimum volume commitments. Red Rock will expand its existing gathering and
compression services for WPX by constructing gas gathering infrastructure to
connect new WPX production in the Rifle, CO area. Red Rock will also
construct a processing plant and related gas gathering infrastructure in the
DeBeque, CO area, which will support Black Hills' future development of their
liquids-rich Mancos and Niobrara acreage. The WPX project will be developed
and commissioned over the next several years and the Black Hills project is
expected to be completed by the end of 2013.

Newby further commented, "These new organic growth projects at Red Rock enable
us to leverage our asset development skill set and drive contracted, fee-based
cash flow growth over the next several years."

About Summit Midstream Partners, LLC

Summit Midstream Partners, LLC is a growth-oriented midstream energy company
focused on owning and operating midstream energy infrastructure that is
strategically located in the core areas of unconventional resource basins,
primarily shale formations, in North America. Through its ownership of (i)
Summit Midstream GP, LLC, the general partner of Summit Midstream Partners,
LP; (ii) a 69.1% limited partner interest in Summit Midstream Partners, LP
(NYSE: SMLP); and (iii) its 100% ownership of Red Rock Gathering Company,
LLC, Summit Investments provides fee-based natural gas gathering, processing
and compression services, supporting some of the largest production companies
in North America, in four unconventional resource basins: (i) the Piceance
Basin, which includes the Mesaverde, Mancos and Niobrara Shale formations in
western Colorado; (ii) the Fort Worth Basin, which includes the Barnett Shale
formation in north-central Texas; (iii) the Sand Wash Basin in northern
Colorado; and (iv) the Uinta Basin in Utah. Summit Investments is
headquartered in Dallas, TX with offices in Houston, TX, Denver, CO and
Atlanta, GA. 

Summit Investments was formed in 2009 by members of management and funds
controlled by Energy Capital Partners II, LP. Together with its affiliates,
Energy Capital Partners is a private equity firm with over $7 billion in
capital commitments that is focused on investing in North America's energy
infrastructure. In August 2011, Energy Capital Partners sold an interest in
Summit to GE Energy Financial Services. GE Energy Financial Services invests
globally in essential, long-lived and capital-intensive energy assets.

For more information, visit Summit's website at www.summitmidstream.com,
Energy Capital Partners at www.ecpartners.com and GE Energy Financial Services
at www.geenergyfinancialservices.com.

INVESTOR CONTACT:

Summit Midstream Partners, LLC
Marc Stratton
Vice President and Treasurer
214-242-1966
ir@summitmidstream.com

SOURCE Summit Midstream Partners, LLC

Website: http://www.summitmidstream.com
 
Press spacebar to pause and continue. Press esc to stop.