Summit Midstream Corporation announced on March 10, 2025, that its wholly owned subsidiary, Summit Midstream Holdings, LLC, acquired Moonrise Midstream, LLC from Fundare Resources Company Holdco, LLC. The total consideration for this strategic bolt-on acquisition was $90 million. This includes $70 million in cash and approximately 0.5 million shares of SMC Class A common stock.
The Moonrise assets are located in Weld County, Colorado, within the DJ Basin. They comprise a 65 MMcf/d natural gas processing plant, approximately 80 miles of low-pressure natural gas gathering lines, 22,300 horsepower of compression, and about 25 miles of crude oil gathering pipelines. The acquisition expands Summit's footprint and dedicated acreage in an active area of the DJ Basin.
This acquisition provides incremental processing capacity, with approximately half of the 65 MMcf/d capacity expected to alleviate integrated DJ system constraints. This will enable customers to increase activity and grow volumes in 2026 and beyond. Summit expects to capture significant operational and commercial synergies by integrating the Moonrise system with its existing DJ assets.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.