Does summit midstream have a strong financial performance?

These figures represent a robust financial performance, underpinned by effective cost management and strategic asset optimization. The quarter saw Summit Midstream connecting 71 wells, primarily in the Rockies region, which is nearly half of the total well connections anticipated for 2024.

How did summit midstream perform in Q1 2024?

For Q1 2024, Summit Midstream reported a net income of $132.9 million, with adjusted EBITDA at $70.1 million. The distributable cash flow stood at $32.5 million, and free cash flow was reported at $17.2 million. These figures represent a robust financial performance, underpinned by effective cost management and strategic asset optimization.

How many wells did summit midstream connect?

The quarter saw Summit Midstream connecting 71 wells, primarily in the Rockies region, which is nearly half of the total well connections anticipated for 2024. Despite severe winter weather impacting volumes in January, the company managed to maintain operational efficiency.