Troutman Pepper Locke advised Summit Midstream Corporation (SMC) in its acquisition of Moonrise Midstream from Fundfare Resources Company Holdco, LLC, for a total consideration of $90 million, including $70 million in cash and $20 million in SMC equity. The acquisition expands Summit’s gathering and processing footprint in the DJ Basin, with approximately 80 miles of natural gas gathering pipeline, approximately 25 miles of crude oil gathering pipeline, and 65 MMcf/d of additional processing capacity.
The team that represented SMC in the transaction was led by Bill Swanstrom, Jennie Simmons, and Lauren Richter, and included Jeremy Petersen, Jon Daly, David Wilhelm, Ben Cowan, Mack McGuffey, Elizabeth Corey, Alex Dillard, Lani Blake, Grace Elliott, and Andrew Nelson.