Summit Midstream to acquire midstream assets in Piceance, Uinta basins

Summit Midstream Partners LLC, Dallas, agreed to acquire Canyon Pipeline LLC for $207 million from La Grange Acquisitions LP, a wholly owned subsidiary of Energy Transfer Partners LP.

Canyon gathers and processes natural gas in the Piceance and Uinta basins in Colorado and Utah.

The gas gathering and processing systems consist of more than 1,600 miles of pipe, 440,000 hp of compression, processing assets with total capacity of 97 MMcfd, and two natural gas liquid injection stations.

The acquisition, subject to regulatory approvals and closing conditions, is expected to be finalized in the fourth quarter.