Houston and Dallas Locke Lord Team Advises Summit Midstream Partners in Sale of Utica Position for $625 Million

A Locke Lord team led by Jennie Simmons and Bill Swanstrom (both of Houston) advised Summit Midstream Partners, a publicly traded partnership focused on developing, owning and operating midstream energy infrastructure assets, in its sale of Summit Midstream Utica, LLC, to a subsidiary of MPLX, a diversified, large-cap master limited partnership formed by Marathon Petroleum Corporation that owns and operates midstream energy infrastructure and logistics assets, for $625 million in cash. The sale includes approximately 36% interest in Ohio Gathering Company, approximately 38% interest in Ohio Condensate Company and wholly owned Utica assets. For more information, see the press release. Additional assistance was provided by Lauren Richter, Gislar Donnenberg, David Harrell, Jerry Higdon, Eric Larson, Sara Longtain, Nicole Davies, Andrew Nelson (all of Houston), Mark Backofen and Van Jolas (both of Dallas).
Posted on March 25, 2024