Summit Midstream Reviewing Strategic Alternatives Including Sale

(RTTNews) - Summit Midstream Partners, LP (SMLP) Tuesday said it is exploring strategic alternatives including sale of the company.

"While we are optimistic about our outlook, which includes significant free cash flow generation and debt reduction, we also believe that our current unit price does not reflect the true value of the Partnership and that the best way to maximize unitholder value is to explore our options, while remaining focused on the Partnership's operational performance and execution of its business strategy," said Heath Deneke, CEO.

The alternatives include continued execution of the partnership's business plan, sale of assets, refinancing parts or the entirety of its capital structure, sale of the partnership by merger or cash, or any combination of these, the company said in a statement.

For the third quarter, the company expects adjusted earnings before interest, taxes, depreciation, and amortization or EBITDA of nearly $70 million, 20% growth compared to the previous quarter.

The company also backed its fourth-quarter adjusted EBITDA outlook of $75 million to $85 million.