PRTODAY / NewswireToday Free press release distribution service network

More news: Energy
Written by / Agency / Source: General Electric Company

Check Ads Availability|e-mail Article


Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!

GE Unit Invests in Summit Midstream, an Oil and Gas Midstream Service Provider - GE Energy Financial Services, is expanding its oil and gas industry footprint by investing in Summit Midstream Partners, LLC, which acquires and develops midstream energy infrastructure in unconventional North American production basins
GE Unit Invests in Summit Midstream, an Oil and Gas Midstream Service Provider

 

NewswireToday - /newswire/ - Houston, TX, United States, 2011/10/12 - GE Energy Financial Services, is expanding its oil and gas industry footprint by investing in Summit Midstream Partners, LLC, which acquires and develops midstream energy infrastructure in unconventional North American production basins. NYSE: GE

   
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

GE Energy Financial Services, a unit of GE (NYSE: GE), is expanding its oil and gas industry footprint by investing in Summit Midstream Partners, LLC, which acquires and develops midstream energy infrastructure in unconventional North American production basins.

“Our investment in Summit Midstream builds on our strategy of partnering with growth-oriented companies with strong management and long-term contracted assets,” said Dan Castagnola, a managing director at GE Energy Financial Services in Houston. “In working with Summit, we are drawing on our experience in many midstream sectors, as well as in unconventional gas.”

GE Energy Financial Services’ current midstream equity and debt portfolio totals approximately $2.4 billion. It has invested in a midstream master limited partnership, gas storage assets, a LNG regasification terminal and 40,000 miles of gas pipelines. GE Energy Financial Services is also involved in oil and gas production, from partnerships that own reserves to production platforms.

Summit Midstream’s assets include gathering, compression, and dehydration facilities in the core of the Barnett Shale. In addition, yesterday it announced the acquisition of South Piceance Basin assets in the Rockies from an Encana Corp. subsidiary.

Summit’s Barnett asset, DFW midstream, is a large gas gathering system in the Arlington, Texas, area consisting of approximately 120 miles of 8-30 inch gathering pipeline and nearly 50,000 horsepower of compression. The Piceance acquisition consists of 260 miles of pipeline and 90,000 horsepower of compression serving multiple customers under long-term contracts. After completion of the Piceance acquisition, Summit will transport approximately 1 bcf of natural gas per day.

”We’re pleased to add GE Financial Services as an owner,” said Steve Newby, president and CEO of Summit. “Their industry depth and financial backing will be beneficial in helping Summit achieve its growth strategy. Between GE and Energy Capital Partners, Summit maintains some of the strongest financial backing in the midstream industry.”

About Summit Midstream Partners, LLC
Summit (summitmidstream.com) is a midstream energy company focused on acquiring and developing a portfolio of midstream energy infrastructure assets that are strategically located in traditional and emerging North American production basins and import centers. Summit is headquartered in Dallas, TX with offices in Atlanta, GA and Houston, TX.

Summit’s management team has over 100 years of collective experience in the midstream energy segment having invested in, raised capital and managed over $5 billion of midstream assets including development projects and operating companies. Summit was formed in 2009 by funds controlled by Energy Capital Partners, LLC, a multi-billion dollar private equity firm focused on investing in North America's energy infrastructure. In August 2011, Energy Capital Partners (ecpartners.com) sold an interest in Summit to GE Energy Financial Services. Together, Summit and Energy Capital Partners combine expertise in project development and financial resources to build, own and operate strategically located midstream energy infrastructure.

About GE Energy Financial Services
GE Energy Financial Services’ experts invest globally across the capital spectrum in essential, long-lived, and capital-intensive energy assets that meet the world’s energy needs. In addition to capital, GE Energy Financial Services (geenergyfinancialservices.com) offers the best of GE’s technical know-how, technology innovation, financial strength, and rigorous risk management. Based in Stamford, Connecticut, the GE business unit helps its customers and GE grow through new investments, strong partnerships, and optimization of its approximately $20 billion in assets.

About GE
GE (ge.com) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide.

 
 
Your Banner Ad Here instead - Showing along with ALL Articles covering Energy Announcements

Replace these Affiliate Programs at ANYTIME! Your banner here within the next hour. Learn How!


 

Written by / Agency / Source: General Electric Company

 
 

Availability: All Regions (Including Int'l)

 

Traffic Booster: [/] Quick Newswire Today Visibility Checker

 

Distribution / Indexing: [+] / [Company listed above is a registered member of our network. Content made possible by PRZOOM / PRTODAY indexing services]

 
 
# # #
 
 
  Your Banner Ad showing on ALL
Energy articles,
CATCH Visitors via Your Competitors Announcements!


GE Unit Invests in Summit Midstream, an Oil and Gas Midstream Service Provider

Company website links NOT available to basic submissions
It is OK to republish and/or LINK any newswire for any legitimate media purpose as long as you name Newswire Today and LINK as the source.
 
  Is this your article?
Activate ALL web links and social stream by Upgrading to Press Release PREMIUM Plan Now!

GE News Center |
Publisher Contact: Christa Bowers - GE Energy Financial Services 
203-961-2934 christa.bowers[.]ge.com
 
Newswire Today - PRZOOM / PRTODAY disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any General Electric Company securities in any jurisdiction including any other companies listed or named in this release.

Energy via RSSAdd NewswireToday - PRZOOM Headline News to FeedBurner
Find who RetweetFollow @NewswireTODAY



Are you the owner of this article?, Turn it PREMIUM with your LOGO instead - and make it 3rd party Ads-Free! within the next hour!


Read Latest Articles From General Electric Company / Company Profile


Read Energy Most Recent Related Newswires:

PJB Spearheads Digital Energy for Indonesia with Deployment of GE Digital Power Plant Software
GE and Maersk Drilling Accelerate their Digital Partnership to Drive Industry Transformation
GE to Provide Digitally-enabled HA Power Plant and Services for Mexico's Tierra Mojada Project
Cisco and Enel Sign Agreement on Digitisation and Innovative Services
Enel and Seedstars Sign Cooperation Agreement to Identify Innovative Energy Access Startups in Africa
ENGIE Launches its First Ephemeral Campus
Enel Signs Agreement with US Company Amber Kinetics on Innovative Flywheel Storage System
Alternative Fuels, Carrefour and ENGIE are Joining Forces to Develop Biomethane in France
GE Renewable Energy and Fortum Sverige AB Sign Digital Hydro Pilot Agreement
GE Renewable Energy Announces Agreement to Provide Cube Hydro with Aerating Turbines
GE Oil & Gas and Eni East Africa Sign Long-term Partnership to Develop Gas Resources Offshore of Mozambique
RWE Turns to GE to Improve Flexibility and Performance
Liquefied Gas Pump Market to Record an Exponential CAGR by 2026 According to Persistence Market Research
GE and Solairedirect India Partner for the Next 25 Years
ENGIE Wins Major Contract with Transport for London

Boost Your Social Network
& Crowdfunding Campaigns


LIFETIME SOCIAL MEDIA WALL
NewswireToday Celebrates 10 Years in Business


PREMIUM Members


Visit  La Bella Bakery Artisan Bakery Arizona

Visit  Rapid Recovery





 
  ©2017 Newswire Today — Limelon Advertising, Co.
Home | About | Advertise/Pricing | Contact | Investors | Privacy/TOS | Sitemap | FRANCAIS
newswire, PR press releases distribution service magazines engine news alert newsroom press room breaking news public relations articles company news alerts newswiredistribution ezine bizentrepreneur biznewstoday digital business report market search pr firms agencies reports distri-bution today investor relation successful internet entrepreneurs newswire distribution prtoday.com freenewswiredistribution asianewstoday bizwiretoday USA pr UK today - NOT affiliated with PRNewswire as we declined their partnership offer in 2013
 
PRTODAY & NewswireTODAY are NOT affiliated with USA TODAY (usatoday.com)