**Summit Midstream Corporation Reports Fiscal Year 2025 Results**
Summit Midstream Corporation (NYSE: SMC) reported a net loss of $1.9 million for the year ended December 31, 2025, a significant improvement compared to the $113.2 million net loss reported for the year ended December 31, 2024. Total revenues for 2025 increased to $562.1 million, up 31% from $429.6 million in the previous year. This increase was driven by a $54.8 million increase in gathering services and related fees and a $70.0 million increase in natural gas, NGLs, and condensate sales. The company's net cash provided by operating activities increased to $133.6 million in 2025 from $61.8 million in 2024.
The company experienced several key operational developments during the year. Aggregate average daily natural gas throughput increased by 5% to 904 MMcf/d, while aggregate average daily liquids throughput increased by 1% to 73 Mbbl/d. The Rockies segment reported a 16% increase in natural gas throughput and a 1% increase in liquids throughput. The Mid-Con segment saw a substantial 106% increase in natural gas throughput, primarily due to the Tall Oak Acquisition. However, the Piceance segment experienced an 11% decrease in natural gas throughput.
Summit Midstream completed the acquisition of Moonrise Midstream, LLC for approximately $90.0 million, expanding its footprint in the DJ Basin. The company also integrated the Moonrise and Tall Oak acquisitions into its existing operations, focusing on conforming the acquired businesses to its operating policies and procedures and attaining acquisition synergies. Furthermore, the company executed several new commercial agreements, including a 10-year extension and a new 15-year agreement with key customers in the Williston Basin.
Looking ahead, Summit Midstream anticipates its 2026 capital program to range from $85.0 million to $105.0 million, including $15.0 million to $20.0 million for maintenance capital expenditures. The company also expects to make an additional investment of approximately $35.0 million in its Double E equity method investee. The company plans to continue optimizing its capital structure by reducing indebtedness with free cash flow and pursuing opportunistic transactions to increase long-term shareholder value.
About Summit Midstream Corp
Summit Midstream Corporation develops and operates midstream energy infrastructure in key U.S. shale basins, providing gathering, processing, compression, and transmission services for natural gas, crude oil, and produced water. Its fee-based, long-term contracts ensure stable cash flows, serving major producers and end markets. The company focuses on strategic asset management, capital optimization, and maintaining strong customer relationships in unconventional resource regions.
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