Summit Midstream Corporation Reports Third Quarter 2026 Financial and Operating Results

Summit Midstream Corporation Reports Third Quarter 2026 Financial and Operating Results HOUSTON, Nov. 9, 2026 /PRNewswire/ -- Summit Midstream Corporation (NYSE: SMC) ("Summit", "SMC" or the "Company") announced today its financial and operating results for the three months ended September 30, 2026.

Highlights

1 Based on the midpoint of the updated Adjusted EBITDA guidance range.

Management Commentary

"The third quarter was one of the strongest in Summit's history, driven by an active customer base and a supportive commodity price environment. Fifty-one new wells came online across the Williston and DJ Basins, driving a 40% increase in liquids volumes and a 32% increase in Rockies Segment Adjusted EBITDA. Combined with continued growth in our Permian and Mid-Con Segments, total Adjusted EBITDA reached $70.7 million, up 16% from the prior quarter. Since the first quarter, new well connects, volume growth and favorable commodity prices have added roughly $16.5 million of quarterly Adjusted EBITDA, approximately 30% growth in just two quarters. That momentum gives us the confidence to raise our full-year 2026 Adjusted EBITDA guidance range to $250 million to $260 million.

"On the commercial front, we reached a positive final investment decision on the Double E Mainline Compression Expansion, and volumes were at record levels during the quarter. Both reflect the growing reliance on Double E to meet in-basin gas transportation needs in the Permian. We continue to make great progress securing additional firm transportation contracts and remain on track to subscribe the remaining expansion capacity to Waha by year-end.

"Looking ahead, we are beginning to see a real step-change in the Company's organic growth outlook over the next two to three years, driven primarily by our Rockies and Permian Segments. With seven rigs running behind our systems and approximately 140 DUCs, we currently expect to connect 200 to 250 wells in 2027, which will drive meaningful year-over-year volume and EBITDA growth. Our Rockies producers are also signaling plans to continue to grow activity levels and volumes well into 2028 and beyond. In the Permian, we're seeing demand for in-basin gas transportation services on Double E not only filling up the Mainline Compression Expansion capacity to Waha but also utilizing the bidirectional capability of the system to access additional markets and outlets on the northern end of the pipeline. The combination of the strong growth outlook in the Rockies and Permian Segments, along with a steady outlook in the Mid-Con, could drive a mid-to-high-teens compound annual growth rate in Adjusted EBITDA over the next several years. We're really excited about the momentum we're seeing in the business and the progress we've made on the balance sheet, and we look forward to providing more specific financial guidance for 2027 early next year."

Third Quarter 2026 Business Highlights

SMC's average daily natural gas throughput on its wholly owned, operated systems increased 5.9% to 952 MMcf/d, while liquids volumes increased 39.7% to 95 Mbbl/d, relative to the second quarter of 2026. Double E Pipeline averaged 1,002 MMcf/d and contributed $11.2 million in Adjusted EBITDA, net to SMC, for the third quarter of 2026.

Natural gas price-driven segments:

Oil price-driven segments:

The following table presents average daily throughput by reportable segment for the periods indicated:

Three Months Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

Average daily throughput (MMcf/d):

Rockies

168

158

166

145

Piceance

223

259

221

263

Mid-Con

561

508

520

500

Aggregate average daily throughput

952

925

907

908

Average daily throughput (Mbbl/d):

Rockies

Aggregate average daily throughput

Double E average daily throughput (MMcf/d) (1)

1,002

712

890

686

(1) Gross basis, represents 100% of volume throughput for Double E.

The following table presents adjusted EBITDA by reportable segment for the periods indicated:

Three Months Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

(In thousands)

Reportable segment adjusted EBITDA (1):

Rockies

39,969

28,999

96,703

79,103

Permian (2)

11,153

8,675

29,247

25,245

Piceance

8,308

12,509

26,540

34,769

Mid-Con

22,752

23,556

63,440

70,913

Total

$ 82,182

$ 73,739

$ 215,930

$ 210,030

Less: Corporate and Other (3)

11,492

8,241

30,349

25,932

Adjusted EBITDA (4)

$ 70,690

$ 65,498

$ 185,581

$ 184,098

(1)

Segment adjusted EBITDA is a non-GAAP financial measure. We define segment adjusted EBITDA as total revenues less total costs and expenses, plus (i) other income (excluding interest income), (ii) our proportional adjusted EBITDA for equity method investees, (iii) depreciation and amortization, (iv) adjustments related to minimum volume commitments ("MVC") shortfall payments, (v) adjustments related to capital reimbursement activity, (vi) share-based and noncash compensation, (vii) impairments and (viii) other noncash expenses or losses, less other noncash income or gains.

(2)

Includes our proportional share of adjusted EBITDA for Double E. We define proportional adjusted EBITDA for our equity method investees as the product of total revenues less total expenses, excluding impairments and other noncash income or expense items; multiplied by our ownership interest during the respective period.

(3)

Corporate and Other represents those results that are not specifically attributable to a reportable segment or that have not been allocated to our reportable segments, including certain general and administrative expense items and transaction costs.

(4)

Adjusted EBITDA is a non-GAAP financial measure.

Capital Expenditures

Capital expenditures totaled $21.2 million in the third quarter of 2026, inclusive of maintenance capital expenditures of $4.7 million. Capital expenditures in the third quarter of 2026 were primarily related to pad connections in the Rockies and Mid-Con segments. SMC continues to expect full year 2026 capital expenditures, including Double E, of $100 million to $120 million, consistent with the guidance update provided with second quarter results, and currently expects to be near the high end of the range. The increase from SMC's original 2026 guidance of $85 million to $105 million reflects incremental, high-return growth projects added during the year, including 30 additional Williston wells added to the program or accelerated from 2027 in response to customer activity, and incremental capital at Double E tied to new firm transportation agreements executed this year. These projects are underpinned by customer development plans and are expected to contribute to volume and Adjusted EBITDA growth in 2027.

Nine Months Ended

September 30,

2026

2025

(In thousands)

Cash paid for capital expenditures (1):

Rockies

$ 43,003

$ 30,696

Piceance

1,608

1,531

Mid-Con

18,559

35,210

Total reportable segment capital expenditures

$ 63,170

$ 67,437

Corporate and Other

2,294

2,473

Total cash paid for capital expenditures

$ 65,464

$ 69,910

(1) Excludes cash paid for capital expenditures by Double E due to equity method accounting.

Capital & Liquidity

As of September 30, 2026, SMC had $12.5 million in unrestricted cash-on-hand and $80 million drawn under its $500 million ABL Revolver with $417 million of borrowing availability, after accounting for $2.7 million of issued, but undrawn letters of credit. As of September 30, 2026, SMC was in compliance with all financial covenants, including interest coverage of 3.0x relative to a minimum interest coverage covenant of 2.0x and first lien net leverage ratio of 0.3x relative to a maximum first lien net leverage ratio of 2.5x. As of September 30, 2026, SMC reported a total net leverage ratio of approximately 3.9x.

As defined in the ABL credit agreement, the total net leverage ratio is calculated as the consolidated debt of Summit Midstream Holdings, LLC and its restricted subsidiaries, net of up to $50 million of unrestricted cash, divided by trailing twelve-month EBITDA as defined in the agreement. Summit Permian Transmission Holdco, LLC and Summit Permian Transmission, LLC are unrestricted subsidiaries under the agreement. Accordingly, the Permian Transmission Term Loan is excluded from debt, and credit agreement EBITDA excludes SMC's proportional share of Double E's Adjusted EBITDA and instead includes, subject to certain limitations, cash distributions received from Double E. Credit agreement EBITDA may also include adjustments for material capital projects and other items permitted under the agreement.

As of September 30, 2026, the Summit Permian Transmission Term Loan Facility had a balance of $360 million. Summit Midstream Permian has $9.2 million of cash-on-hand as of September 30, 2026. The Permian Transmission Term Loan remains non-recourse to SMC.

MVC Shortfall Payments

SMC billed its customers $4.1 million in the third quarter of 2026 related to MVC shortfalls. For those customers that do not have MVC shortfall credit banking mechanisms in their gathering agreements, the MVC shortfall payments are accounted for as gathering revenue in the period in which they are earned. In the third quarter of 2026, SMC recognized $4.1 million of gathering revenue associated with MVC shortfall payments. SMC had $0.0 million of adjustments to MVC shortfall payments in the third quarter of 2026. SMC's MVC shortfall payment mechanisms contributed $4.1 million of total Adjusted EBITDA in the third quarter of 2026. The minimum volume commitments underpinning SMC's Piceance segment gathering agreements, which represent substantially all of SMC's MVC shortfall payments, expired at the end of the third quarter of 2026.

Quarterly Dividend

The Board of Directors of Summit Midstream Corporation continued to suspend cash dividends payable on the common stock for the period ended September 30, 2026. The quarterly cash dividend on the Series A Preferred Stock, for the period ending December 14, 2026, will be paid to preferred shareholders of record as of the close of business on December 1, 2026.

Share Repurchase Program

During the third quarter of 2026, SMC repurchased 7,007 shares of its common stock for approximately $0.2 million. As of September 30, 2026, SMC had approximately $33.8 million of remaining capacity under its $35.0 million share repurchase program.

Third Quarter 2026 Earnings Call Information

SMC will host a conference call at 10:00 a.m. Eastern on November 10, 2026, to discuss its quarterly operating and financial results. The call can be accessed via teleconference at: Q3 2026 Summit Midstream Corporation Earnings Conference Call ( https://register-conf.media-server.com/register/BI10be65af5cb84a17b15c9a100f09cd74). Once registration is completed, participants will receive a dial-in number along with a personalized PIN to access the call. While not required, it is recommended that participants join 10 minutes prior to the event start. The conference call, live webcast and archive of the call can be accessed through the Investors section of SMC's website at www.summitmidstream.com.

Upcoming Investor Conferences

Members of SMC's senior management team will attend the 2026 Bank of America Leveraged Finance Conference taking place on December 1–2, 2026 and the 2026 Wells Fargo Energy & Power Symposium taking place on December 8–9, 2026. The presentation materials associated with these events will be accessible through the Investors section of SMC's website at www.summitmidstream.com prior to the beginning of each conference.

Use of Non-GAAP Financial Measures

We report financial results in accordance with U.S. generally accepted accounting principles ("GAAP"). We also present adjusted EBITDA, segment adjusted EBITDA, Distributable Cash Flow, and Free Cash Flow, non-GAAP financial measures.

Adjusted EBITDA

We define adjusted EBITDA as net income or loss, plus interest expense, income tax expense, depreciation and amortization, our proportional adjusted EBITDA for equity method investees, adjustments related to MVC shortfall payments, adjustments related to capital reimbursement activity, share-based and noncash compensation, impairments, items of income or loss that we characterize as unrepresentative of our ongoing operations and other noncash expenses or losses, income tax benefit, income (loss) from equity method investees and other noncash income or gains. Because adjusted EBITDA may be defined differently by other entities in our industry, our definition of this non-GAAP financial measure may not be comparable to similarly titled measures of other entities, thereby diminishing its utility.

Management uses adjusted EBITDA in making financial, operating and planning decisions and in evaluating our financial performance. Furthermore, management believes that adjusted EBITDA may provide external users of our financial statements, such as investors, commercial banks, research analysts and others, with additional meaningful comparisons between current results and results of prior periods as they are expected to be reflective of our core ongoing business.

Adjusted EBITDA is used as a supplemental financial measure to assess:

Adjusted EBITDA has limitations as an analytical tool and investors should not consider it in isolation or as a substitute for analysis of our results as reported under GAAP. For example:

We compensate for the limitations of adjusted EBITDA as an analytical tool by reviewing the comparable GAAP financial measures, understanding the differences between the financial measures and incorporating these data points into our decision-making process.

Distributable Cash Flow

We define Distributable Cash Flow as adjusted EBITDA, as defined above, less cash interest paid, cash paid for taxes, net interest expense accrued and paid on the senior notes, and maintenance capital expenditures.

Free Cash Flow

We define free cash flow as distributable cash flow attributable to common and preferred shareholders less growth capital expenditures, less investments in equity method investees, less dividends to common and preferred shareholders. Free cash flow excludes proceeds from asset sales and cash consideration paid for acquisitions.

We do not provide the GAAP financial measures of net income or loss or net cash provided by operating activities on a forward-looking basis because we are unable to predict, without unreasonable effort, certain components thereof including, but not limited to, (i) income or loss from equity method investees and (ii) asset impairments. These items are inherently uncertain and depend on various factors, many of which are beyond our control. As such, any associated estimate and its impact on our GAAP performance and cash flow measures could vary materially based on a variety of acceptable management assumptions.

About Summit Midstream Corporation

SMC is a value-driven corporation focused on developing, owning and operating midstream energy infrastructure assets that are strategically located in the core producing areas of unconventional resource basins, primarily shale formations, in the continental United States. SMC provides natural gas, crude oil and produced water gathering, processing and transportation services pursuant to primarily long-term, fee-based agreements with customers and counterparties in five unconventional resource basins: (i) the Williston Basin, which includes the Bakken and Three Forks shale formations in North Dakota; (ii) the Denver-Julesburg Basin, which includes the Niobrara and Codell shale formations in Colorado and Wyoming; (iii) the Fort Worth Basin, which includes the Barnett Shale formation in Texas; (iv) the Arkoma Basin, which includes the Woodford and Caney shale formations in Oklahoma; and (v) the Piceance Basin, which includes the Mesaverde formation as well as the Mancos and Niobrara shale formations in Colorado. SMC has an equity method investment in Double E Pipeline, LLC, which provides interstate natural gas transportation service from multiple receipt points in the Delaware Basin to various delivery points in and around the Waha Hub in Texas. SMC is headquartered in Houston, Texas.

Forward-Looking Statements

This press release includes certain statements concerning expectations for the future that are forward-looking within the meaning of the federal securities laws. Forward-looking statements include, without limitation, any statement that may project, indicate or imply future results, events, performance or achievements and may contain the words "expect," "intend," "plan," "anticipate," "estimate," "believe," "will be," "will continue," "will likely result," and similar expressions, or future conditional verbs such as "may," "will," "should," "would" and "could." In addition, any statement concerning future financial performance (including future revenues, earnings or growth rates), payment of dividends on any series of stock, ongoing business strategies and possible actions taken by SMC or its subsidiaries are also forward-looking statements. Forward-looking statements also contain known and unknown risks and uncertainties (many of which are difficult to predict and beyond management's control) that may cause SMC's actual results in future periods to differ materially from anticipated or projected results. An extensive list of specific material risks and uncertainties affecting SMC is contained in its 2025 Annual Report on Form 10-K filed with the Securities and Exchange Commission (the "SEC") on March 16, 2026, as amended and updated from time to time. Any forward-looking statements in this press release are made as of the date of this press release and SMC undertakes no obligation to update or revise any forward-looking statements to reflect new information or events.

SUMMIT MIDSTREAM CORPORATION AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

September 30,

2026

December 31,

2025

(In thousands)

ASSETS

Cash and cash equivalents

$ 12,480

$ 9,274

Restricted cash

10,650

10,405

Accounts receivable

113,952

69,752

Other current assets

9,022

7,490

Total current assets

146,104

96,921

Property, plant and equipment, net

1,830,991

1,844,146

Intangible assets, net

147,236

153,564

Investment in Double E

277,353

265,583

Other noncurrent assets

26,886

27,395

TOTAL ASSETS

$ 2,428,570

$ 2,387,609

LIABILITIES AND EQUITY

Trade accounts payable

$ 23,062

$ 31,652

Accrued expenses

40,576

24,270

Deferred revenue

6,909

10,122

Ad valorem taxes payable

10,662

10,190

Accrued compensation and employee benefits

11,894

12,063

Accrued interest

9,944

30,045

Accrued environmental remediation

1,398

1,710

Accrued settlement payable

2,327

8,333

Current portion of long-term debt

2,693

21,223

Other current liabilities

7,250

27,185

Total current liabilities

116,715

176,793

Deferred tax liabilities, net

95,931

73,635

Long-term debt, net

1,247,819

1,024,347

Noncurrent deferred revenue

26,016

18,398

Noncurrent accrued environmental remediation

Other noncurrent liabilities

6,660

6,532

TOTAL LIABILITIES

1,493,193

1,299,757

Commitments and contingencies

Mezzanine Equity

Subsidiary Series A Preferred Units

—

141,296

Equity

Series A Preferred Stock

64,171

110,468

Common Stock, $0.01 par value

136

122

Class B Common Stock, $0.01 par value

Additional paid-in capital

743,091

638,427

Accumulated deficit

(198,358)

(202,902)

Total Company stockholders' equity

609,105

546,180

Noncontrolling interest

326,272

400,376

Total Equity

935,377

946,556

TOTAL LIABILITIES AND EQUITY

$ 2,428,570

$ 2,387,609

SUMMIT MIDSTREAM CORPORATION AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

Three Months Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

(In thousands, except per share amounts)

Revenues:

Gathering services and related fees

$ 75,863

$ 65,359

$ 198,133

$ 193,706

Natural gas, NGLs and condensate sales

98,121

71,079

255,888

196,751

Other revenues

9,021

10,445

23,139

29,340

Total revenues

183,005

146,883

477,160

419,797

Costs and expenses:

Cost of natural gas and NGLs

59,738

38,138

148,202

109,486

Operation and maintenance

46,417

38,358

124,446

111,129

General and administrative

16,472

13,159

48,035

45,275

Depreciation and amortization

27,224

28,855

80,783

87,427

Transaction costs

210

1,429

451

5,283

Acquisition integration costs

1,661

1,054

7,060

(Gain) loss on asset sales, net

(5,014)

120

(5,011)

120

Long-lived asset impairments

—

Total costs and expenses

145,120

121,720

397,960

365,851

Other income (expense), net

(575)

718

8,860

Gain (loss) on interest rate swaps

1,885

131

2,682

(1,335)

Loss on sale of business

—

(539)

—

(582)

Interest expense

(27,710)

(24,191)

(80,126)

(70,592)

Income from equity method investees

7,596

5,548

18,665

15,190

Income before income taxes

19,674

5,537

21,139

5,487

Income tax expense

(3,813)

(537)

(3,879)

(81)

Net income

$ 15,861

$ 5,000

$ 17,260

$ 5,406

Net income (loss) per share:

Common stock – basic

$ 0.60

$ (0.13)

$ 0.34

$ (0.95)

Common stock – diluted

$ 0.58

$ (0.13)

$ 0.34

$ (0.95)

Weighted-average number of shares outstanding:

Common stock – basic

13,783

12,255

13,313

12,090

Common stock – diluted

14,085

12,255

13,563

12,090

__________

SUMMIT MIDSTREAM CORPORATION AND SUBSIDIARIES

UNAUDITED OTHER FINANCIAL AND OPERATING DATA

Three Months Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

(In thousands)

Other financial data:

Net income

$ 15,861

$ 5,000

$ 17,260

$ 5,406

Net cash provided by operating activities

5,513

26,677

56,315

79,920

Capital expenditures

21,194

22,914

65,464

69,910

Contributions to equity method investees

10,871

753

17,379

3,816

Adjusted EBITDA

70,690

65,498

185,581

184,098

Cash flow available for distributions (1)

32,621

36,686

96,302

102,571

Free Cash Flow

5,225

16,716

26,004

37,292

Dividends (2)

1,881

3,385

53,159

10,126

Operating data:

Aggregate average daily throughput – natural gas (MMcf/d)

952

925

907

908

Aggregate average daily throughput – liquids (Mbbl/d)

Double E average daily throughput (MMcf/d) (3)

1,002

712

890

686

(1)

Cash flow available for distributions is also referred to as Distributable Cash Flow, or DCF.

(2)

Represents dividends declared and ultimately paid or expected to be paid to preferred and common shareholders in respect of a given period. The cash dividend payment for the nine months ended September 30, 2026 includes a payment of $46.3 million for accrued and unpaid dividends owed from March 15, 2020 to December 14, 2024. Excludes distributions paid on the Subsidiary Series A Preferred Units issued at Summit Permian Transmission Holdco, LLC. The board of directors of Summit Midstream Corporation reinstated cash dividends on its Series A Preferred Stock beginning on March 14, 2025.

(3)

Gross basis, represents 100% of volume throughput for Double E.

SUMMIT MIDSTREAM CORPORATION AND SUBSIDIARIES

UNAUDITED RECONCILIATIONS TO NON-GAAP FINANCIAL MEASURES

Three Months Ended

September 30,

Nine Months Ended

September 30,

2026

2025

2026

2025

(In thousands)

Reconciliations of net income to adjusted EBITDA,

Distributable Cash Flow, and Free Cash Flow:

Net income

$ 15,861

$ 5,000

$ 17,260

$ 5,406

Add:

Interest expense

27,710

24,191

80,126

70,592

Income tax expense

3,813

537

3,879

Depreciation and amortization (1)

27,459

29,090

81,487

88,131

Proportional adjusted EBITDA for equity method investees (2)

10,269

7,820

26,605

22,668

Adjustments related to capital reimbursement activity (3)

(2,711)

(2,480)

(8,366)

(6,356)

Share-based and noncash compensation

2,304

2,064

7,638

6,801

(Gain) loss in fair value of Tall Oak earn out

575

504

(7,904)

(Gain) loss on asset sales, net

(5,014)

120

(5,011)

120

Long-lived asset impairment

—

Gain (loss) on interest rate swaps

(1,885)

(131)

(2,682)

1,335

Loss on sale of business

—

539

—

582

Other, net (4)

479

3,721

2,806

17,761

Less:

Income from equity method investees

7,596

5,548

18,665

15,190

Adjusted EBITDA

$ 70,690

$ 65,498

$ 185,581

$ 184,098

Less:

Cash interest paid

51,189

40,863

94,523

80,371

Cash paid for taxes

—

282

Senior notes interest adjustment (5)

(17,789)

(17,393)

(17,789)

(12,458)

Maintenance capital expenditures

4,669

5,325

12,545

13,332

Cash flow available for distributions (6)

$ 32,621

$ 36,686

$ 96,302

$ 102,571

Less:

Growth capital expenditures

16,525

17,589

52,919

56,578

Investment in equity method investee

10,871

753

17,379

3,816

Distributions on Subsidiary Series A Preferred Units

—

1,628

—

4,885

Free Cash Flow

$ 5,225

$ 16,716

$ 26,004

$ 37,292

(1)

Includes the amortization expense associated with our favorable gas gathering contracts as reported in other revenues.

(2)

Reflects our proportionate share of Double E.

(3)

Adjustments related to capital reimbursement activity represent contributions in aid of construction revenue recognized in accordance with Accounting Standards Update No. 2014-09 Revenue from Contracts with Customers.

(4)

Represents items of income or loss that we characterize as unrepresentative of our ongoing operations. For the nine months ended September 30, 2026, the amount includes $2.8 million of transaction and other costs. For the nine months ended September 30, 2025, the amount includes $9.7 million of transaction and other costs and $7.1 million of integration costs.

(5)

Senior notes interest adjustment represents the net of interest expense accrued and paid during the period. Interest on the 2029 Secured Notes is paid semi-annually in arrears on each February 15 and August 15.

(6)

Represents cash flow available for distribution to preferred and common shareholders. Common dividends cannot be paid unless all accrued preferred dividends are paid. Cash flow available for distributions is also referred to as Distributable Cash Flow, or DCF.

SUMMIT MIDSTREAM CORPORATION AND SUBSIDIARIES

UNAUDITED RECONCILIATIONS TO NON-GAAP FINANCIAL MEASURES

Nine Months Ended September 30,

2026

2025

(In thousands)

Reconciliation of net cash provided by operating activities to adjusted

EBITDA, Distributable Cash Flow, and Free Cash Flow:

Net cash provided by operating activities

$ 56,315

$ 79,920

Add:

Interest expense, excluding amortization of debt issuance costs

75,049

67,587

Income tax expense (benefit), excluding federal income taxes

(6)

Changes in operating assets and liabilities

60,311

31,357

Proportional adjusted EBITDA for equity method investees (1)

26,605

22,668

Adjustments related to capital reimbursement activity (2)

(8,366)

(6,356)

Realized gain on swaps

(412)

(2,652)

Other, net (3)

2,806

17,761

Less:

Distributions from equity method investees

24,274

21,110

Noncash lease expense

2,447

5,175

Adjusted EBITDA

$ 185,581

$ 184,098

Less:

Cash interest paid

94,523

80,371

Cash paid for taxes

—

282

Senior notes interest adjustment (4)

(17,789)

(12,458)

Maintenance capital expenditures

12,545

13,332

Cash flow available for distributions (5)

$ 96,302

$ 102,571

Less:

Growth capital expenditures

52,919

56,578

Investment in equity method investee

17,379

3,816

Distributions on Subsidiary Series A Preferred Units

—

4,885

Free Cash Flow

$ 26,004

$ 37,292

(1)

Reflects our proportionate share of Double E.

(2)

(3)

(4)

(5)

SOURCE Summit Midstream Corporation