Summit Midstream Partners Second Quarter Natural Gas Volume Increase – Commodity Commentary

By Mary de Wet

Summit Midstream Partners LP said on Friday that its natural gas volumes increased in the second quarter and that it sees signs of increased customer activity heading into next year.

In the second trimester:

Summit Midstream averaged 1,441 MMcf per day of natural gas flow during the three months ended June 30, compared to 1,391 MMcf per day in the second quarter of 2020, as Utica shale production remained strong.

“Mined natural gas volumes increased 7.1% from the first quarter of 2021, largely due to the continued strong performance of the four connected Utica shale wells in the first quarter of 2021 and 20 new ones. wells that were brought online during the second quarter. 2021 in the Utica Shale, Williston Basin and Marcellus Shale segments. “

The company said its customers operate five drilling rigs in an area behind its collection systems and have about 22 wells drilled but unfinished as of June 30. Most of those wells are expected to be completed by the end of the third quarter, Summit Midstream said. .

On his outlook:

“We are encouraged by the substantial improvement in the commodity pricing environment and we continue to see signs of increased customer activity around our footprint through 2022, particularly in our Permian segments,” Williston and Utica, ”President, CEO and Chairman Heath told Deneke.

Write to Mary de Wet at [email protected]

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