---
schema_version: "secwatch.filing_event.v1"
accession: "0001549922-24-000042"
form_type: "8-K/A"
ticker: null
cik: "0001549922"
company_name: "Summit Midstream Partners, LP"
filed_at: "2024-03-28T23:59:59+00:00"
generated_at: "2026-06-04T06:08:06.162946+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.85
calibrated_materiality_score: 0.85
confidence: "high"
source: SEC EDGAR
---

# Summit Midstream sells Utica assets to MPLX for $625M cash; plans C-Corp conversion

## Summary
- Completed sale of Summit Midstream Utica to MPLX for $625M cash, including ~36% of OGC and ~38% of OCC.
- Net leverage reduced by 1.5x to sub-4.0x; liquidity improved with $400M undrawn facility and >$325M cash.
- Pro forma 2024 Adjusted EBITDA guidance: $185M to $220M; portfolio shifts to ~55% crude oil-oriented basins.
- Plans to seek unitholder approval to convert to a C-Corp at a Special Meeting later this year.
- Strategic alternatives process concluded; Board unanimously approved the transaction and conversion plan.

## SEC filing metadata
- accession: 0001549922-24-000042
- form_type: 8-K/A
- cik: 0001549922
- company_name: Summit Midstream Partners, LP
- filed_at: 2024-03-28T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.85
- calibrated_materiality_score: 0.85
- confidence: high
- sec_items: 1.01, 9.01, 2.01, 8.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1549922/000154992224000042/0001549922-24-000042-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1549922/000154992224000042/smlp-20240322.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001549922-24-000042
- JSON: https://secwatch.observer/filing/0001549922-24-000042.json
- Plain text: https://secwatch.observer/filing/0001549922-24-000042.txt

## Key facts
- M&A Transactions
  Summit Midstream Partners, LP completed a disposition involving a subsidiary of MPLX LP for $625.0 million (closed 2024-03-22).
  - Action: disposition
  - Counterparty: a subsidiary of MPLX LP
  - Consideration: $625.0 million
  - Closing: 2024-03-22
  source text: Midstream Utica, LLC, a Delaware limited liability company (“Utica”), to a subsidiary of MPLX LP (NYSE: MPLX), a Delaware limited partnership (“MPLX”), for cash consideration of $625.0 million, subject to customary post-closing adjustments (the “Transaction”), pursuant to a Purchase and Sale Agreement, dated March 22, 2024 (the “Purchase Agreement”), by and among OpCo,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549922/000154992224000042/0001549922-24-000042-index.htm
- Material Agreements
  Summit Midstream Partners, LP entered into Purchase and Sale Agreement with MPLX LP valued at $625.0 million (effective 2024-03-22).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: MPLX LP
  - Value: $625.0 million
  - Effective: 2024-03-22
  source text: On March 22, 2024, Summit Midstream Partners, LP (NYSE: SMLP), a Delaware limited partnership (“Summit” or the “Partnership”) and Summit Midstream Opco, LP, a Delaware limited partnership (“OpCo”) and an indirectly owned subsidiary of Summit, completed the sale of Summit Midstream Utica, LLC, a Delaware limited liability company (“Utica”), to a subsidiary of MPLX LP (NYSE: MPLX), a Delaware limited partnership (“MPLX”), for cash consideration of $625.0 million, subject to customary post-closing adjustments (the “Transaction”), pursuant to a Purchase and Sale Agreement, dated March 22, 2024 (the “Purchase Agreement”)
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549922/000154992224000042/0001549922-24-000042-index.htm
- Material Agreements
  Summit Midstream Partners, LP amended Fourth Amendment to Loan and Security Agreement with Bank of America, N.A. (effective 2024-03-22).
  - Action: amendment
  - Agreement: credit facility
  - Counterparty: Bank of America, N.A.
  - Effective: 2024-03-22
  source text: Summit Midstream Holdings, LLC, a Delaware limited liability company (“Holdings”), entered into that certain Fourth Amendment to Loan and Security Agreement (the “ABL Amendment”) by and among Summit, Holdings, the subsidiaries of Holdings party thereto, as subsidiary guarantors, and Bank of America, N.A., as administrative agent
  evidence_url: https://www.sec.gov/Archives/edgar/data/1549922/000154992224000042/0001549922-24-000042-index.htm

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