Summit Investments Plans Bakken Oil and Water Pipeline Expansion
Summit Investments, as closely held Summit Midstream Partners LLC (SMLP) is known, will spend $60 million to build an additional 145 miles (233 kilometers) of pipelines in the Bakken oil-shale region, the company said in a statement today.
The expansion, part of the Divide system, is in addition to about $200 million in capital spending planned for 2013. The project’s broadening comes after Summit said May 17 it would construct the Polar crude oil and water-gathering system for Bakken in Williams County, North Dakota.
Summit on June 5 announced $460 million in acquisitions in the Bakken and Marcellus fields as it plans to nearly double the amount of gas it gathers there.
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