Summit Midstream Expands with Moonrise Acquisition

Summit Midstream ( (SMC) ) has provided an announcement.

On March 10, 2025, Summit Midstream Corporation announced the acquisition of Moonrise Midstream, LLC from Fundare Resources Company HoldCo, LLC for $90 million, comprising $70 million in cash and $20 million in equity. This strategic acquisition expands Summit’s footprint in the DJ Basin, adding significant natural gas and crude oil gathering pipelines and processing capacity, which is expected to alleviate current system constraints and support future volume growth. The acquisition is part of Summit’s strategy to enhance its operational capabilities and drive value through commercial and operational synergies, positioning the company for continued growth in the DJ Basin.

More about Summit Midstream

Summit Midstream Corporation is a value-driven company focused on developing, owning, and operating midstream energy infrastructure assets in the core producing areas of unconventional resource basins, primarily shale formations, across the continental United States. The company provides natural gas, crude oil, and produced water gathering, processing, and transportation services through long-term, fee-based agreements in five unconventional resource basins, including the Williston, Denver-Julesburg, Fort Worth, Arkoma, and Piceance Basins.

YTD Price Performance: -2.62%

Average Trading Volume: 79,048

Technical Sentiment Consensus Rating: Hold

Current Market Cap: $400.6M

Learn more about SMC stock on TipRanks’ Stock Analysis page.