Summit Midstream Corporation (NYSE:SMC) filed its quarterly report on Form 10-Q for the period ended September 30, 2026, disclosing key financing transactions and operational developments including a $440.0 million Permian term loan refinancing and a midstream acquisition completed during the period.

Key Highlights

  • Share count: As of November 6, 2026, the company had 13,676,745 shares of common stock and 6,524,467 shares of Class B common stock outstanding.
  • Permian refinancing: On March 16, 2026, the company completed a $440.0 million refinancing of its Legacy Permian Transmission Credit Facilities and Permian Term Loan Facility in the form of a new term loan facility.
  • Incremental amendment: On August 31, 2026, the New Permian Transmission Facility was increased by $50.0 million through a First Incremental Amendment.
  • Moonrise Acquisition: The company acquired Moonrise Midstream, LLC from Fundare for approximately $90.0 million, consisting of a $70.0 million cash payment and the issuance of 462,265 shares of common stock.
  • Senior secured notes: Summit Holdings carries 8.625% Senior Secured Second Lien Notes due October 2029, including $250,000,000 in Additional 2029 Secured Notes issued January 10, 2025.
  • Corporate structure: The company completed a Corporate Reorganization on August 1, 2024, in which Summit Midstream Partners, LP became a wholly owned subsidiary of the newly formed Delaware corporation Summit Midstream Corporation, taxed as a C-corporation.

Permian Refinancing and Moonrise Acquisition Drive Q3 2026 Activity

Summit Midstream Corporation, a midstream energy company focused on the gathering, processing, and transportation of natural gas, natural gas liquids, and crude oil, operates across multiple U.S. basins including the Permian and Denver-Julesburg Basin. According to the filing, two transactions stand out as the primary financing and growth events reflected in the September 30, 2026 quarterly period.

The first is the March 16, 2026 refinancing of the Legacy Permian Transmission Credit Facilities and the Permian Term Loan Facility. The filing describes this as a $440.0 million new term loan facility, which the company defines as the New Permian Transmission Facility. That facility was subsequently increased by $50.0 million through what the filing calls the First Incremental Amendment, executed on August 31, 2026, bringing the amended total capacity higher. The Legacy Permian Transmission Credit Facilities had been in place since March 8, 2021 and, according to the filing, "was paid off in full on March 16, 2026 by the New Permian Transmission Facility."

The second notable event disclosed in the filing is the Moonrise Acquisition. The company acquired Moonrise Midstream, LLC from Fundare Resources Company HoldCo, LLC for approximately $90.0 million. The filing states that consideration consisted of a $70.0 million cash payment and the issuance of 462,265 shares of common stock. The filing also reports the company's existing senior secured debt position: Summit Holdings carries 8.625% Senior Secured Second Lien Notes due October 2029, with $250,000,000 in aggregate principal of Additional 2029 Secured Notes issued on January 10, 2025. The company is listed on the New York Stock Exchange under the ticker symbol SMC and is classified as an accelerated filer for the reporting period.

What Was Disclosed

Summit Midstream Corporation filed a Form 10-Q for the quarter ended September 30, 2026, covering a $440.0 million Permian credit facility refinancing, a $50.0 million incremental amendment, and the approximately $90.0 million acquisition of Moonrise Midstream. The company reported 13,676,745 common shares and 6,524,467 Class B common shares outstanding as of November 6, 2026.