Summit Midstream's $90 Million Acquisition of Moonrise Midstream
Deal News | Mar 19, 2025 | Troutman Pepper Locke, LLP
Summit Midstream Corporation (SMC) has engaged Troutman Pepper Locke, LLP as its legal advisor in acquiring Moonrise Midstream from Fundfare Resources Company Holdco, LLC for $90 million. This strategic acquisition, comprising $70 million in cash and $20 million in SMC equity, significantly boosts Summit's infrastructure with added pipelines and processing capacity in the DJ Basin. Troutman Pepper's energy practice, known for its expertise in complex matters across diverse sectors, facilitated this key transaction. The acquisition supports Summit's goal of expanding its midstream energy operations across the U.S., leveraging Troutman's extensive market knowledge and experience.
Sectors
- Energy
- Legal Services
Geography
- United States – The acquisition and the involved entities are based in the United States, with expansion activities in the DJ Basin.
Industry
- Energy – The article involves the acquisition of midstream energy infrastructure assets, specifically natural gas and crude oil gathering pipelines and processing capacity.
- Legal Services – Troutman Pepper Locke provided legal advisory services for the transaction, highlighting the role of law firms in facilitating M&A in the energy sector.
Financials
- $90 million – The total consideration for the acquisition of Moonrise Midstream, including $70 million in cash and $20 million in Summit Midstream Corporation equity.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Summit Midstream Corporation (SMC) | Buyer | Company | A corporation focused on developing, owning, and operating midstream energy infrastructure assets. |
| Fundfare Resources Company Holdco, LLC | Seller | Company | The entity selling Moonrise Midstream to Summit Midstream Corporation. |
| Moonrise Midstream | Target Company | Company | The company being acquired by Summit Midstream Corporation. |
| Troutman Pepper Locke, LLP | Legal Advisor | Company | A legal firm advising Summit Midstream Corporation on the acquisition deal. |