---
schema_version: "secwatch.filing_event.v1"
accession: "0001549922-22-000035"
form_type: "8-K"
ticker: null
cik: "0001549922"
company_name: "Summit Midstream Partners, LP"
filed_at: "2022-12-02T23:59:59+00:00"
generated_at: "2026-06-21T10:14:17.736356+00:00"
event_type: "m_and_a"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Summit Midstream closes $305M bolt-on acquisition in DJ Basin; funds with ABL and $85M notes

## Summary
- Acquired Outrigger DJ and Sterling DJ for $305M cash; $165M for Outrigger DJ, $140M for Sterling DJ.
- Financed via ABL borrowings and $85M of new 8.500% Senior Secured Second Lien Notes due 2026.
- Reinvested ~$115M of proceeds from earlier Lane and Bison system divestitures into these transactions.
- Post-closing, SMLP has ~$335M drawn on its $400M ABL facility; integration of gas gathering and processing assets underway.

## SEC filing metadata
- accession: 0001549922-22-000035
- form_type: 8-K
- cik: 0001549922
- company_name: Summit Midstream Partners, LP
- filed_at: 2022-12-02T23:59:59+00:00
- event_type: m_and_a
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 2.03, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1549922/000154992222000035/0001549922-22-000035-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1549922/000154992222000035/smlp-20221201.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001549922-22-000035
- JSON: https://secwatch.observer/filing/0001549922-22-000035.json
- Plain text: https://secwatch.observer/filing/0001549922-22-000035.txt

## Key facts
- Debt Financings
  Summit Midstream Partners, LP incurred senior notes of $85 million at 8.500% maturing due 2026.
  - Instrument: senior notes
  - Principal: $85 million
  - Rate: 8.500%
  - Maturity: due 2026
  - Event: incurrence
  source text: of the Transactions, SMP Holdings and Summit Midstream Finance Corp., a Delaware corporation (together with SMP Holdings, the “Co-Issuers”), called for redemption all of the $85 million aggregate principal amount of the issued and outstanding 8.500% Senior Secured Second Lien Notes due 2026 (the “Mirror Notes”) issued to certain purchasers pursuant to Section
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549922/000154992222000035/0001549922-22-000035-index.htm
- M&A Transactions
  Summit Midstream Partners, LP completed an acquisition involving Outrigger Energy II LLC and Sterling Investment Holdings LLC for $305 million (closed 2022-12-01).
  - Action: acquisition
  - Counterparty: Outrigger Energy II LLC and Sterling Investment Holdings LLC
  - Consideration: $305 million
  - Closing: 2022-12-01
  source text: and processing systems, a crude oil gathering system, freshwater rights, and a subsurface freshwater delivery system in the DJ Basin for an aggregate cash consideration of $305 million, subject to customary post-closing adjustments. The Outrigger DJ and Sterling DJ consolidated asset portfolio is located in Weld, Morgan, and Logan Counties, Colorado and
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549922/000154992222000035/0001549922-22-000035-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.