1. business and industrial
2. energy
3. natural gas

CONFIDENTIAL
2015 U.S. Capital Advisors Midstream Corporate Access Day
January 27, 2015
Disclaimers
EXPLANATORY NOTE
Summit Midstream Partners, LLC (“Summit Investments”) is a Delaware limited liability company and the predecessor for accounting purposes (the
“Predecessor”) of Summit Midstream Partners, LP (“SMLP”). The accompanying financial and operating information and related notes include the assets,
liabilities and results of operations of Summit Investments prior to Summit Investments’ contribution of all of the limited liability company interests in Summit
Midstream Holdings, LLC to SMLP in connection with SMLP’s initial public offering (“IPO”). The financial and operating information included in this presentation
reflect the Predecessor financial statements, which are based on the historical ownership percentages of the operations that were contributed to SMLP by Energy
Capital Partners II, LLC and its parallel and co-investment funds and GE Energy Financial Services, Inc. (collectively the "Sponsors") prior to the IPO. The effects
of the IPO and related equity transfers occurring in October 2012 are reflected in this financial information subsequent to the IPO. The results of the Predecessor
prior to the IPO may not be indicative of SMLP’s future financial results.
FORWARD LOOKING STATEMENTS
This presentation includes certain statements, estimates and projections provided by Summit with respect to its anticipated future performance. These “forwardlooking” statements appear in a number of places in this presentation and include, but are not limited to, statements regarding Summit’s plans, intentions, beliefs,
expectations and assumptions, as well as other statements that are not historical facts. Generally, these statements can be identified by the use of forwardlooking terminology including “will,” “may,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” or other similar words. When considering these “forwardlooking” statements, you should keep in mind that a number of factors that are beyond Summit’s control could cause actual results to differ materially from the
results contemplated by any such forward-looking statements including, but not limited to, the following risks and uncertainties: fluctuations in oil, natural gas and
NGL prices; the extent and quality of natural gas volumes produced within proximity of Summit’s assets; failure or delays by Summit’s customers in achieving
expected production in their natural gas projects; competitive conditions in Summit’s industry and their impact on Summit’s ability to connect natural gas supplies
to its gathering and processing assets or systems; actions or inactions taken or nonperformance by third parties, including suppliers, contractors, operators,
processors, and shippers; Summit’s ability to successfully integrate recently acquired assets; operating hazards, natural disasters, weather-related delays,
casualty losses and other matters beyond Summit’s control; Summit’s ability to control the costs of construction, including costs of materials, labor and right-ofway and other factors that may impact Summit’s ability to complete projects within budget and on schedule; and the effects of existing and future laws and
governmental regulations, including environmental requirements on Summit’s business or operations. In addition, any determination by Summit Investments to
offer any of its assets, including its interest in Ohio Gathering, to SMLP will be made in Summit Investments' sole discretion and will in any event be subject to a
number of factors, including, but not limited to, the ability to reach agreement on acceptable terms, the approval of the conflicts committee of SMLP (if
appropriate), prevailing conditions and outlook in the natural gas and NGL industries and markets, and SMLP's ability to obtain financing on acceptable terms,
from the capital markets or other sources. All of the forward-looking statements made in this document are qualified by these cautionary statements, and Summit
cannot assure you that actual results or developments that Summit anticipates will be realized or, even if substantially realized, will have the expected
consequences to, or effect on, Summit or its business or operations.
Although the expectations in the forward-looking statements are based on Summit’s current beliefs and expectations, caution should be taken not to place undue
reliance on any such forward-looking statements because such statements speak only as of the date hereof. Summit expressly disclaims any obligation to update
or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
Furthermore, the “forward-looking” statements reflect various assumptions by Summit concerning anticipated results, which assumptions may or may not prove to
be correct. Neither Summit nor any of its affiliates has undertaken any independent investigation or evaluation of such assumptions to determine their
reasonableness.
2
Summit Midstream Partners, LP Overview
General Overview
Distribution Per LP Unit
(in thousands, except per unit information)
$ / Unit
Ticker
SMLP
Exchange
NYSE
Current SMLP Price Per Unit
(1)
$
$0.550
$0.500
35.77
(1)
Total Units Outstanding
$0.450
60,034
Market Capitalization
$
$0.400
2,147,434
$0.350
4Q 2014 Distribution Per Unit
$
0.560
Annualized 4Q 2014 Distribution Per Unit
$
2.240
$0.300
6.26%
$0.250
2014 Adjusted EBITDA Guidance(2)
$195 - $200 million
$0.200
(2)
$215 - $230 million
Current Yield
2015 Adjusted EBITDA Guidance
$0.420 $0.435
$0.400 $0.410
$0.460
$0.480
$0.500
$0.520
$0.540
$0.560
MQD 4Q '12 1Q '13 2Q '13 3Q '13 4Q '13 1Q '14 2Q '14 3Q '14 4Q '14
Total Return Analysis – Since SMLP IPO(1)
240.0%
200.0%
160.0%
120.0%
SMLP IPO:
$20.00 / Unit
99.1%
80.0%
49.7%
27.5%
40.0%
0.0%
(40.0%)
SMLP
S&P 500
Alerian MLP Index
(1) As of January 23, 2015.
(2) Excludes the impact of potential drop downs from Summit Investments.
3
Summit Enterprise Organizational Structure
100%
Summit Midstream Partners, LLC
(“Summit Investments”)
Polar Oil & Water Gathering
100%
60%
Summit Midstream Partners Holdings, LLC
(“SMP Holdings”)
40%
Divide Oil & Water Gathering
100%
Niobrara Gas G&P
Ohio Gathering
Company, L.L.C.
Ohio Condensate
Company, L.L.C.
2.0% GP Interest / IDRs
Tioga Midstream
49.5% LP Interest
– 5.3MM Common Units
– 24.4MM Sub Units
Public Unit
Holders
48.5% LP
Interest
Summit Utica
Summit Midstream Partners, LP
(NYSE: SMLP)
$700MM Revolver
Summit Midstream
Finance Corp.
DFW Midstream System(1)
(1)
(2)
Summit Midstream
Holdings, LLC
Grand River System(2)
$600MM Senior Notes
Bison Midstream System
PUBLIC
COMPANY
Mountaineer Midstream
System
Effective December 31, 2013, Mountaineer Midstream, LLC was merged with and into DFW Midstream Services LLC. SMLP will continue to report DFW and Mountaineer operating statistics on an individual basis.
Includes Red Rock Gathering Company, LLC, which Grand River Gathering, LLC acquired from SMP Holdings in March 2014.
4
SMLP Overview
Growth-oriented midstream MLP focused on natural gas gathering, treating & processing
Current SMLP Operating Footprint
Investment Considerations
 90%+ of revenue is fee-based
Fee-Based
Contract
Portfolio
 3.9 Tcf of remaining MVCs through 2026
 Contracts provide for stable cash flow and
limited direct commodity price exposure
 Geographically diverse operating footprint
with over 1.4 million acres dedicated
 Active in high growth Bakken & Marcellus
 Natural gas, NGL and crude oil exposure
Diversified
Operations
 $2.0 billion of investment at Summit
Investments leads to $400-800 million of drop
downs per year through 2017
 Drop downs drive long term growth outlook
 Further diversification by basin, commodity,
customer and services provided
Visible
Growth From
Drop Downs
 2014 YTD distribution coverage of 1.10x
Strong
Capital
Position
 Modest leverage and approximately $540
million of available liquidity as of 9/30/14
 Sponsor track record of equity capital support
3Q 2014 SMLP Operating Data
As of September 30, 2014
Average Daily Volumes (MMcf/d)(1)
Operating Capacity (MMcf/d)
Compression Horsepower
Miles of Pipeline In Service
(1)
Grand River
DFW
Bison
Mountaineer
Total
667
361
21
416
1,465
1,145
480
26
1,050
2,701
154,250
66,100
9,000
21,330
250,680
1,779
128
388
49
2,344
For the quarter ended September 30, 2014.
5
Differentiated Contract Portfolio with Significant MVC Underpinning
Contract Portfolio Overview
Avg. MVCs Through 2018 = 84% of 3Q 2014 Throughput
 Primarily long-term, fee-based contracts for natural gas
gathering, treating and processing services
1,465
1,500
 Weighted-average remaining contract life of 10.2 years
1,234
1,250
 Remaining MVCs total 3.9 Tcf and run through 2026
MMcf/d
1,000
– MVCs average 1,234 MMcf/d through 2018
 Over 1.4 million acres contractually dedicated in some of
the fastest growing production basins in North America
750
500
250
0
3Q 2014 Throughput
MVCs Through 2018
Acreage
Dedication
(net acres)
Avg. Fee(1)
(per Mcf)
Total
Remaining
Commitment
(Bcf)(2)
670,960(4)
$0.53
2,253
667
754
11.0 years
DFW
107,268
$0.62
148
361
95
5.4 years
Bison
676,480
$2.90
22
21
12
5.9 years
n/a
n/a
n/a
416
n/a
n/a
1,454,708
$0.44
3,888
1,465
1,234
10.2 years
Asset
Grand River
Mountaineer(5)
Wtd. Avg. / Total
(1)
(2)
(3)
(4)
(5)
Estimated for the year ended December 31, 2015.
As of September 30, 2014.
Weighted averages based on Total Remaining Minimum Revenue (Total Remaining MVCs x Average Rate).
For Red Rock, includes acreage dedications for the top 10 largest customers by throughput.
Contract terms excluded for confidentiality purposes.
6
3Q 2014 Avg.
Daily
Throughput
(MMcf/d)
Avg. Daily
MVCs
Through 2018
(MMcf/d)
Wtd. Avg.
Remaining
Contract
Life(2,3)
SMLP – Limited Exposure to Crude Oil Prices
Fee-Based Contracts & Basin Diversity Reduces the Impact of Lower Commodity Prices
 SMLP gathered approximately 1.5 Bcf/d of natural gas in 3Q 2014
–
94% of SMLP’s 2015 estimated revenue is generated from fee-based activities
–
SMLP has 1.2 Bcf/d of minimum volume commitments (“MVCs”) under contract through 2018, or approximately 84% of 3Q 2014
throughput

Cash flows associated with these MVCs are not directly exposed to changes in crude oil prices
 SMLP’s 2015 adjusted EBITDA guidance is $215 million to $230 million
–
Assuming $50 per bbl for crude oil, less than 4% of SMLP’s 2015 adjusted EBITDA guidance is directly exposed to changes in crude
oil prices
2015 SMLP Adj. EBITDA Guidance by Basin
Not Directly
Directly
Exposed to
Crude Oil
Prices
96%

SMLP’s direct and indirect commodity price
exposure in the Bakken is less than $5.0 million of
adjusted EBITDA relative to SMLP’s 2015 guidance

SMLP retains condensate drip from its gathering
operations in the Piceance
‒
7
Total exposure to crude oil, assuming $50
per barrel crude oil price, is less than $3.5
million of adjusted EBITDA relative to
SMLP’s 2015 guidance
Summit Investments Asset Overview
Over $2 billion of expected total investment at Summit Investments,
primarily focused on Utica & Bakken activity
Current Summit Investments Footprint
Investment Considerations
 Premier footprints in dynamic shale plays
Top-Tier
Assets
 Provides exposure to liquids and gas
 Growth underpinned by high-quality
producers and 100% fee-based contracts
Long-Term
Visible
Growth
 Significant potential EBITDA contribution to
SMLP via drop downs
 Incubating assets at Summit Investments
creates financial flexibility for SMLP
 Organic capital expenditures create ongoing
Multiple
Opportunities
for Expansion
opportunities within each basin
 Commercial presence increases economies
of scale
 Substantial backlog of visible growth projects
Overview of Summit Investments
Formation
Status
System
Mileage(1)
2014E Capex
2015E Capex
Bakken (Polar & Divide)
Bakken / Three
Forks
In Service
~ 500 miles crude
/ water
$135
$90
Bakken (Tioga Midstream)
Bakken / Three
Forks
Under
Development
~ 240 miles crude
/ water / gas
$55
$55
Niobrara / Codell
In Service
90 miles
$10
$5
Utica
In Service / Under
Development
~ 700 miles
$750
$300
Operating Area
DJ Niobrara (Niobrara G&P)
Utica (Ohio Gathering + Summit Utica)
(1)
Pro forma for full system build out.
8
Summit Enterprise Basin Exposure
The Summit enterprise has exposure to four of the most active shale plays in the U.S.
IRR by Shale Play
Top 10 Basins By Rig Count
Basin
Permian
Eagle Ford
Williston
Mississippian Lime
Marcellus
DJ Niobrara
Utica
Granite Wash
Haynesville
Powder River
80%
70%
61%
50%
2014
419
200
182
72
67
49
37
42
43
33
480
214
186
82
70
56
48
43
40
36
23%
16%
18%
16%
4%
6%
6%
6%
13%
13%
9%
1%
20%
18%
1%
19%
7%
22%
7%
24%
7%
10%
24%
7%
25%
8%
26%
22%
10%
24%
11%
26%
11%
27%
29%
11%
29%
13%
29%
13%
30%
13%
16%
20%
24%
2013
386
222
185
69
82
27
25
54
34
29
Sources: Baker Hughes and Tudor, Pickering, & Holt.
36%
32%
24%
26%
2012
404
205
193
26
139
16
N/A
62
111
22
40%
17%
20%
27%
27%
30%
31%
32%
38%
27%
30%
32%
40%
47%
16%
47%
19%
51%
50%
9%
59%
9%
62%
9%
60%
60%
10%
70%
70%
2011
5%
(1%)
0%
(10%)
$70 Crude Oil and $3.00 Natural Gas
SMLP Exposure
Oct 2014 Strip ($88 Crude Oil and $4.25 Natural Gas)
Summit Investments Exposure
Source: Credit Suisse; January 2015.
9
SMLP & Summit Investments Exposure
Drop Downs To Drive Top Tier Growth
SMLP’s relationship with Summit Investments provides it with long-term, visible growth
($ in millions)
Operating Area
Status
In Service & Under
Development
Bakken
Total
System Capacity(1)
425 miles crude oil 110 Mbbls/d crude oil
230 miles water
85 Mbbls/d water
85 miles natural gas 14 MMcf/d natural gas
Expected Total
Investment
Through 2019(2)
~ $725
In Service
90 miles
15 MMcf/d
Processing plant
~ $75
In Service & Under
Development
~ 700 miles
Confidential
~ $1,500
DJ Niobrara
Utica
System
Mileage(1)
Total Summit Investments
Organic growth capital invested
at 6.0x to 8.0x EBITDA
More than $270 million of
incremental EBITDA
~ $2,300
Illustrative Example: Drop Downs + SMLP Organic Growth = Top Tier Growth
Adjusted EBITDA ($MM)
$540 +
$550
$450
$350
$250
$222.5(3)
$150
$50
($50)
2015
(1)
(2)
(3)
2016
2017
Pro forma for full system build out.
Includes acquisition capital and estimated development capital through 2019.
For 2015, assumes mid-point of adjusted EBITDA guidance of $215 million to $230 million. Assumes 5.0% annual EBITDA growth of base business.
10
2018
2019
Summit Investments Overview
Summit Utica Overview – Expanding Utica Footprint
Map of Summit Utica
Asset Summary
 In 4Q 2014, Summit Investments
entered into an agreement with XTO
Energy Inc. (XTO) to construct a
natural gas gathering system in the
dry gas window of southeastern Ohio
 The gathering system will consist of
115 miles of pipeline and four
compressor stations with 500 MMcf/d
of initial throughput capacity
 Summit Utica is currently delivering
into Dominion and Blue Racer
pipelines
‒ Will ultimately deliver into
Regency Energy Partners LP’s
2.1 Bcf/d Utica Ohio River
Trunkline project, once it is
complete in the second half of
2015
 Development of the $400 million
project will occur over three years
 Summit
Investments
is
in
negotiations with other producers in
and around this area
12
Ohio Gathering JV Overview
Summit Investments owns a 40% interest in Ohio Gathering & Ohio Condensate a joint venture with MarkWest Utica EMG in Utica Shale
Asset Overview
 Summit Investments owns a 40% interest in Utica Shale
natural gas gathering systems and condensate
stabilization facility in southeastern Ohio
– MarkWest to develop and operate assets
Hopedale Fractionator (1)
Cadiz Complex (1)
Cadiz I – 125 MMcf/d– Complete
Cadiz II – 200 MMcf/d – Complete
Cadiz III – 200 MMcf/d – 1Q15
Cadiz IV – 200 MMcf/d – 1Q16
De-ethanization– 40,000 Bbl/d– Complete
C3+ Fractionation I – 60,000 Bbl/d – Complete
C3+ Fractionation II – 60,000 Bbl/d – 4Q14
C3+ Fractionation III – 60,000 Bbl/d – 1Q16
 Multi-billion dollar capex program associated with
development of:
– Liquids-rich gas gathering system
– Dry gas gathering system
Condensate
Stabilization Facility
– Condensate stabilization facility
23,000 Bbl/d – 4Q14
 Liquids-rich system delivers to MarkWest Utica EMG’s
Cadiz and Seneca processing complexes
 Gulfport Energy Corp. is the anchor customer
underpinning development of assets
– New gathering agreement with American Energy –
Utica announced in September 2014
 Gathering systems averaged 322 MMcf/d in 3Q 2014, up
from 189 MMcf/d in 2Q 2014
Seneca Complex (1)
Condensate
Wet Gas
 Development of a 23,000 Bbl/d condensate
transportation, storage and stabilization facility in service
in 4Q 2014
Seneca
Seneca
Seneca
Seneca
I – 200 MMcf/d – Complete
II – 200 MMcf/d – Complete
III – 200 MMcf/d – Complete
IV – 200 MMcf/d – 2Q15
Dry Gas
(1) Excluded from Ohio Gathering joint venture.
13
Strategically Located in the Southern Core of the Utica Shale
The Utica Shale is the highest return shale play in the United States(1)
Gathering From Core of Utica Shale
Current Ohio Gathering Customers
 ~ 200,000 net acres in Utica
 Currently running 6 rigs in
the Utica
 280,000 net acres in Utica
 Estimated ~2,600 gross
wells to be drilled on it’s
acreage
Hess: 1 well
25 MMcfe/d IP
GPOR: Boy Scout
#1-33H
7 MMcf/d IP
1,008 Bbl/d NGLs IP
1,560 Bbl/d Oil IP
GPOR: 3 wells
21 MMcf/d avg. IP
2,270 Bbl/d NGLs
avg. IP
292 Bbl/d oil avg. IP
GPOR: 2 wells
37 MMcfe/d avg IP
 67,000 net acres in Utica
 350 gross HZ locations in
the Utica
 4,510 net acres in
Guernsey, Nobel and
Belmont counties, Ohio
 Plans to drill 6 wells in 2014
Other Major Utica Producers
RICE: Bigfoot 9H
42 MMcf/d Test Rate
CRZO: Rector 1H
6 MMcf/d Gas
621 Bbl/d NGLs
1,680 Bbl/d Oil
XTO Energy
Kaldor 1H
1.2 Bcfe in 110 days
Antero: Myron 1H
26 Mmcfe/d 30-day rate
Condensate
MHR: Stewart Winland 1300U
46.5 Mmcfe/d peak rate
8.8 Mmcf/d per 1,000 ft. lateral
Wet Gas
Dry Gas
GPOR: 3 wells
13 MMcf/d avg. IP
922 Bbl/d NGLs avg. IP
21 Bbl/d oil avg. IP
Antero: 6 wells
19 MMcfe/d avg.
30-day rate
Source: Company filings. Map locations are approximated.
(1) Credit Suisse; January 2015. Analysis based on NYMEX natural gas futures strip avg. of $3.00 and WTI oil futures strip avg. of $70.00.
14
Bakken Overview – Polar & Divide / Tioga Midstream
Polar, Divide and Tioga provide fee-based crude oil, water and associated natural gas
gathering services to major producers operating in the Bakken
Map of Polar & Divide, Tioga Assets(1)
Asset Summary
 Summit entered the Bakken Shale in 1Q 2013 with its
purchase of Bear Tracker Energy, LLC and has significantly
expanded its footprint through additional organic projects
from new customer contracts
(1)
Map of Polar & Divide, Tioga Assets
Global Partners –
Stampede
Polar & Divide:
Divide
County
 Summit Investments acquired the Polar Oil & Water
Gathering system (“Polar”) and the Divide Oil & Water
Gathering system (“Divide”) as part of its acquisition of Bear
Tracker in 1Q 2013
Burke
County
Divide
Station
– Polar was commissioned in May 2013 and was
underpinned by a long-term, fee-based contract with
Kodiak Oil & Gas (“Kodiak” – now Whiting)
– Divide was commissioned in November 2013 and was
underpinned by a long-term, fee-based contract with
SM Energy
Enbridge –
Little Muddy
– Summit has received a PLR from the IRS for its water
gathering business
Williams
County
Tioga Midstream:
 In 2Q 2014, Tioga Midstream (“Tioga”) executed an
agreement with Hess Corp to develop crude oil, water and
associated natural gas gathering infrastructure
Tioga
Polar & Divide
Rail Terminal
Storage Facility
Trucking Station
– Tioga expands Summit’s footprint in the Bakken through
organic capex with significant size and scope
(1)
COLT Hub
Pro forma for full system build out.
15
Niobrara G&P – Asset Overview
Over 90 miles of pipeline gathering and compression assets located near the
emerging Codell Play in the DJ Niobrara Shale
Map of Niobrara G&P
Asset Summary
 Summit Investments acquired the Niobrara Gathering &
Processing system (“Niobrara G&P”) as part of its acquisition
of Bear Tracker Energy, LLC in February 2013
Codell Play
WY
‒ Niobrara G&P was commissioned in September 2013
and is underpinned by a long-term, fee-based contract
with EOG Resources
Laramie
County
NE
‒ Interconnects with Colorado Interstate Gas for its
residue gas and Overland Pass Pipeline for its NGLs
Hereford
Plant
 Niobrara G&P is well positioned to benefit from further
growth with EOG relative to its recently announced Codell
Play
Weld
County
‒ EOG’s Codell Play includes 72,000 acres and is in
close proximity to Niobrara G&P’s existing
infrastructure
CO
Colorado
 EOG has stated that it expects to generate after-tax returns
in excess of 100% relative to wells drilled in the Codell Play
Rigs
Carrizo
Cirque Resources
EOG Resources
Extraction Oil & Gas
Kaiser Francis
Noble Energy
PDC Energy
Synergy Resources
Whiting Oil & Gas
16
WY Approved Permits
CO Approved Permits
CO Pending Permits
Anadarko E&P Onshore
Cirque Resources
EOG Resources
Bear Oil and Gas Inc
Barrett Corp
Cirque Resources
EOG Resources
Kaiser Francis
Lilis Energy Inc
Anadarko E&P Onshore LLC
Noble Energy Inc.
Niobrara Pipelines
WY Pending Permits
Ward Petroleum Corporation
EOG Constructed
Anadarko E&P Onshore
Barrett Corp
Cirque Resources
EOG Resources
Kaiser Francis
Carrizo Niobrara LLC
Cirque Resources
EOG Resources
Natural Resource Group Inc.
Natural Resource Group
Pipelines
SMLP Asset Overview
Current & Projected Business Profile
SMLP’s drop down strategy is expected to further diversify SMLP while
enhancing its core focus on fee-based revenue
Revenue Composition
2012 at IPO
2018E(1)
2015E
Variable
6%
Variable
3%
FeeBased(2)
97%
Variable
2%
FeeBased(2)
98%
FeeBased(2)
94%
Adjusted EBITDA Composition
2012 at IPO
12%
Rich
Gas
Area
32%
52%
48%
56%
(1)
(2)
2018E(1)
2015E
Lean
Gas
Area
Crude
Oil
Area
Rich
Gas
Area
Lean
Gas
Area
10%
31%
Crude
Oil
Area
59%
28%
41%
Rich
Gas
Area
Pro forma for the drop down of all existing Summit Investments assets to SMLP.
Excludes CO2 revenue, electricity revenue and favorable and unfavorable amortization of contracts, which are pass-through items. Includes fuel retainage revenue which is used to offset compression fuel expense at DFW.
18
31%
Lean
Gas
Area
Mountaineer Midstream
High-pressure gas gathering and compression assets
located in the rich gas window of the Marcellus Shale Play
Asset Summary
Asset
Map of Mountaineer Assets
Mountaineer Midstream
3Q 2014 Throughput
416 MMcf/d
Throughput Capacity
1,050 MMcf/d
Basin Served
Zinnia Loop Project;
completed in 3Q 2014
and increased
throughput capacity to
~1.0 Bcf/d
Appalachian
Underlying Formation
Marcellus Shale
Counties Served
Doddridge & Harrison counties, WV
Services Provided
Natural Gas Gathering
Primary Customers
Antero Resources
Delivery Point
MWE's Sherwood Gas Processing Facility
Miles of Pipeline
49 miles
Compression Horsepower
21,330
Revenue (1)
100% Fee-Based Revenue
Avg. Gathering Fee (2)
Confidential
Acreage Dedication
n/a
(2)
Aggregate Remaining MVC
Confidential
Avg. Daily MVC Through 2018(2)
MarkWest Energy Partners, L.P.’s
Sherwood Complex
Confidential
Remaining Contract Life (2)
Confidential
Sherwood I – V – 1,000 MMcf/d – Complete
Sherwood VI – 200 MMcf/d – 2Q15
Sherwood VII – 200 MMcf/d – 3Q15
De-ethanization – 40,000 Bbl/d – 3Q15
(1) Estimated for the year ending December 31, 2015.
(2) Contract terms excluded for confidentiality purposes.
19
Bison Midstream
Associated natural gas gathering (1,425+ Btu gas) from over
676,480 net acres serving producers in the Bakken Shale Play in North Dakota
Map of Bison Assets
Asset Summary
Asset
Bison Midstream
3Q 2014 Throughput
21 MMcf/d
Throughput Capacity
26 MMcf/d
Basin Served
Williston
Underlying Formation
Counties Served
Bakken & Three Forks
Mountrail & Burke counties, ND
Services Provided
Associated Natural Gas Gathering
Primary Customers
EOG, Oasis, Statoil, Hunt, Hess
Delivery Point
Aux Sable's Conditioning Plant in Palermo, ND
Miles of Pipeline
388 miles
Compression Horsepower
Revenue (1)
Avg. Gathering Fee
Expansion of West CS
expected to increase gathering
capacity from 26 MMcf/d to 32
MMcf/d by the end of 1Q 2015
Middle
Cottonwood CS
expected
completion in 1Q
2015
9,000
~ 65% Fee-Based Revenue
(1)
Acreage Dedication
$2.90 / Mcf
676,480 acres
Aggregate Remaining MVC(2)
22 Bcf
Avg. Daily MVC Through 2018
12 MMcf/d
Remaining Contract Life (3)
5.9 Years
(1) Estimated for the year ending December 31, 2015.
(2) As of September 30, 2014.
(3) Weighted avg based on Total Remaining Minimum Revenue (Total Remaining MVC x Avg. Fee).
20
Aux Sable
Conditioning
Plant
DFW Midstream
Natural gas gathering in the “core of the core” of the Barnett
Asset Summary
Asset
Map of DFW Midstream
DFW Midstream
3Q 2014 Throughput
361 MMcf/d
Throughput Capacity
480 MMcf/d
Basin Served
Ft. Worth
Underlying Formation
Barnett
Primary Counties Served
Tarrant & Dallas counties, TX
Services Provided
Natural Gas Gathering & Treating
Primary Customers
Chesapeake, Enervest, XTO, Vantage & Beacon
Delivery Points
Line X, Old Ocean Pipeline, Trinity River Lateral
Miles of Pipeline
128 miles
Compression Horsepower
Revenue (1)
66,100
100% Fee-Based Revenue
Avg. Gathering Fee (1)
Acreage Dedication
108,314 acres
Aggregate Remaining MVC(2)
148 Bcf
Avg. Daily MVC Through 2018
95 MMcf/d
Remaining Contract Life
Acquisition of
Lonestar in 3Q
2014
$0.62 / Mcf
(3)
5.4 Years
(1) Estimated for the year ending December 31, 2015.
(2) As of September 30, 2014.
(3) Weighted avg based on Total Remaining Minimum Revenue (Total Remaining MVC x Avg. Fee).
21
Grand River
Positioned in the core of the Piceance Basin with exposure to the liquids-rich
Mesaverde formation as well as the emerging Mancos & Niobrara formations
Asset Summary
Asset
Grand River
3Q 2014 Throughput
667 MMcf/d
Throughput Capacity
1,145 MMcf/d
Basin Served
Underlying Formation
Primary Counties Served
Map of Grand River
Piceance
Mesaverde, Mancos & Niobrara
Garfield, Mesa, & Rio Blanco counties, CO
Services Provided
Natural Gas Gathering & Processing
Primary Customers
Encana, WPX, Vanguard, Ursa, Black Hills
Delivery Points
Miles of Pipeline
Compression Horsepower
Revenue
(1)
Avg. Gathering Fee (1)
Acreage Dedication
Meeker, Northwest Pipeline, TransColorado Pipeline
1,779 miles
154,240
90%+ Fee-Based Revenue
$0.53 / Mcf
670,960 acres
Aggregate Remaining MVC(2)
2,253 Bcf
Avg. Daily MVC Through 2018
754 MMcf/d
Remaining Contract Life (3)
11.0 Years
(1) Estimated for the year ending December 31, 2015.
(2) As of September 30, 2014.
(3) Weighted avg based on Total Remaining Minimum Revenue (Total Remaining MVC x Avg. Fee).
22
SMLP Financial Overview
Conservative Financial Strategy
Strong balance sheet and liquidity enables SMLP to execute its growth strategy
 Targeting long-term leverage ratio of 3.0x – 4.0x
Actual
($s in 000s)
Sep-14
– 4.2x leverage at September 30, 2014

Leverage projected to decrease in 4Q 2014 as
SMLP adds ~ $25 million of expected year-end
MVC shortfall payments to its covenant
compliance EBITDA calculation
 Approximately $525 million of revolver availability
September 30, 2014 under $700 million revolver
at
Cash and Cash Equivalents
$14,133
Total Debt:
Revolving Credit Facility (Due Novemb er 2018)
175,000
7.50% Senior Notes (Due July 2021)
300,000
5.50% Senior Notes (Due August 2022)
300,000
Total Debt
775,000
Partners' Capital:
 In July 2014, issued $300 million of senior unsecured notes
due 2022 at par to yield 5.50%
Common Limited Partner Capital
690,661
Subordinated Limited Partner Capital
323,455
General Partner Interests
 4Q 2014 distribution announcement of $0.56 per unit
Total Partners' Capital
– Increased 4Q 2014 distribution to LP unitholders by
16.7% over 4Q 2013 and 3.7% over 3Q 2014
Total Capitalization
Distribution Coverage Ratio (Quarterly)
– Generated a distribution coverage ratio of 1.05x for 3Q
2014 and 1.10x for the first nine months of 2014
Covenant Compliance EBITDA (LTM)
25,798
1,039,914
$1,814,914
1.05x
182,814
Credit Metrics
Debt / EBITDA
Debt / Total Capitalization
4.2x
42.7%
Committed Liquidity
Cash & Cash Equivalents
Revolver Availability
Total Liquidity
24
14,133
525,000
$539,133
SMLP Financial Profile
Capital Expenditures(1)
Volume Gathered
$MM
MMcf/d
1,393
1,500
1,138
1,200
$200
1,109
$160
952
431
600
136
$77
2011
2012
$75
$40
$0
2010
2011
2012
2013
2010
Nine Mos. Nine Mos.
Ended
Ended
9/30/13 9/30/14
Adjusted EBITDA(2)
2013
Nine Mos. Nine Mos.
Ended
Ended
9/30/13 9/30/14
Adjusted Distributable Cash Flow
$MM
$MM
$200
$150
$165
$145
$160
$80
$131
$120
$96
$93
$118
$106
$120
$105
$90
1
$57
$54
$60
$30
$12
$12
$0
$0
2010
(1)
(2)
$78
$104
$80
0
$40
$109
$120
900
300
$154
2011
2012
2013
2010
Nine Mos. Nine Mos.
Ended
Ended
9/30/13 9/30/14
2011
2012
2013
Nine Mos. Nine Mos.
Ended
Ended
9/30/13 9/30/14
Excludes acquisition capital expenditures.
EBITDA adjustments include adjustments related to MVC shortfall payments and unit-based compensation expense. Adjusted EBITDA includes transaction costs. These unusual and non-recurring expenses are settled in cash. For a reconciliation of adjusted
EBITDA and adjusted distributable cash flow to their nearest comparable GAAP financial measures, please see “Non-GAAP Reconciliations.”
25
SMLP – 2014 & 2015 Financial Guidance
Guidance Range
FY 2014(3)
Guidance Range
FY 2015(3)
Year
Ended
2013
Low
High
Low
High
$105.9
$164.8
$195.0
$200.0
$215.0
$230.0
n/a
20.0%
15.0%
17.5%
Mid-teens growth on
long-term basis
Growth Capex
$71.2
$94.5
$110.0
$115.0
$70.0
$90.0
Maintenance Capex
$6.1
$14.9
$15.0
$20.0
$14.0
$18.0
$77.3
$109.4
$125.0
$135.0
$84.0
$108.0
Actual
Actual
($ in millions)
Year
Ended
2012
Adjusted EBITDA
LP Distribution Growth(1,2)
Total Capex
(1)
(2)
(3)
Distribution growth for the year ended December 31, 2013 is relative to SMLP’s minimum quarterly distribution of $0.40 / unit.
Distribution growth for the year ended December 31, 2014 is for the fourth quarter of 2014 relative to the fourth quarter of 2013 distribution of $0.48 / unit paid on February 14, 2014.
As updated on November 6, 2014.
26
SMLP Non-GAAP Reconciliations
SMLP Non-GAAP Reconciliations
Nine Months Ended September 30,
2014
($s in 000s)
Net Income
(1)
Year Ended December 31,
2013
2013
2012
2011
2010
$16,522
$32,310
$53,304
$42,997
$37,951
$8,172
28,504
11,840
19,173
12,766
3,054
0
655
579
729
682
695
124
61,158
49,201
69,962
36,674
11,367
3,874
693
794
1,032
192
308
215
3
3
5
9
12
32
$107,529
$94,721
$144,195
$93,302
$53,363
$12,353
3,499
2,354
3,506
1,876
3,440
0
33,810
20,711
17,025
10,768
0
0
Loss on asset sales
6
113
113
0
0
0
(1)
$144,844
$117,899
$164,839
$105,946
$56,803
$12,353
Add:
Interest expense
Income tax expense
Depreciation and amortization
Amortization of favorable and unfavorable contracts
(2)
Less:
Interest income
(1)
EBITDA
Add:
Unit-based compensation
Adjustments related to MVC shortfall payments
Adjusted EBITDA
(1)
(2)
(3)
(3)
Includes transaction costs. These unusual and non-recurring expenses are settled in cash.
The amortization of favorable and unfavorable contracts relates to gas gathering agreements that were deemed to be above or below market at the acquisition of the DFW Midstream system. We amortize these contracts on a units-of-production basis over the
life of the applicable contract. The life of the contract is the period over which the contract is expected to contribute directly or indirectly to our future cash flows.
Adjustments related to MVC shortfall payments account for (i) the net increases or decreases in deferred revenue for MVC shortfall payments and (ii) our inclusion of future expected annual MVC shortfall payments in Adjusted EBITDA.
28
SMLP Financial Performance
Nine Months Ended June 30,
2014
($s in 000s)
Variance
2013
$
%
Distributable Cash Flow:
EBITDA(1)
$107,529
$94,721
$12,808
13.5%
3,499
2,354
1,145
48.6%
33,810
20,711
13,099
63.2%
Loss on asset sales
6
113
(1)
$144,844
$117,899
$26,945
22.9%
3
3
0
0.0%
29,779
6,548
23,231
354.8%
(3,017)
6,500
(9,517)
(146.4%)
0
660
(660)
(100.0%)
14,090
10,990
3,100
28.2%
$103,995
$93,204
$10,791
11.6%
Transaction costs(1)
675
2,620
Regulatory compliance costs(4)
638
0
638
n/a
$105,308
$95,824
$9,484
9.9%
$95,858
$69,771
$26,087
37.4%
Add:
Unit-based compensation
Adjustments related to MVC shortfall payments
Adjusted EBITDA
(2)
(107)
(94.7%)
Add:
Interest income
Less:
Cash interest paid
Senior notes interest expense
(3)
Cash taxes paid
Maintenance capital expenditures
Distributable cash flow
Add:
Adjusted distributable cash flow
Distributions declared
Distribution coverage ratio
(1)
(2)
(3)
(4)
(1,945)
(74.2%)
1.10x
Includes transaction costs. These unusual and non-recurring expenses are settled in cash.
Adjustments related to MVC shortfall payments account for (i) the net increases or decreases in deferred revenue for MVC shortfall payments and (ii) our inclusion of future expected annual MVC shortfall payments in Adjusted EBITDA.
Senior notes interest expense represents interest expense recognized and accrued during the period. Interest on the $300 million 7.5% senior notes due 2021 is paid in cash semi-annually in arrears on January 1 and July 1 until maturity July
2021
Expenses associated with SMLP’s obligations under Section 404 of the Sarbanes-Oxley Act of 2002 and Summit’s adoption of the 2013 Internal Control-Integrated Framework issued by the Committee of Sponsoring Organizations of the
Treadway Commission (“COSO 2013”). The substantial majority of these first-year COSO 2013 expenses are not expected to be incurred beyond 2014.
29
Appendix – Additional Information
Mountaineer Midstream – Strategic Position in Core of Marcellus Shale
Map of Marcellus Shale
Marcellus Shale Overview

Mountaineer provides high-pressure gathering and
compression services for Antero Resources in the northern
West Virginia region of the Marcellus Shale

Currently 31 rigs operating in West Virginia with 11, or 35%,
operating in Doddridge and Harrison counties

Antero is currently operating 15 drilling rigs in the Marcellus
Shale Play
– Antero has completed over 325 horizontal wells to date

Antero has indicated that wells in their acreage have average
EURs of 1.7 Bcf / 1,000 ft. lateral
– Antero has averaged 7,300 ft. laterals in the Marcellus
Representative Well Economics

Mountaineer
Midstream
Antero estimates 1529 gross horizontal drilling locations in its
1,100 to 1,275 Btu window
– 23% to 52% ROR based on September 2014 strip pricing
BTU Content
Well Cost
($MM)
EUR (Bcfe)
F&D ($/Mcf)
Pre-Tax ROR
1,050
$9.5
11.9
$0.94
18%
1,150
$9.5
13.1
$0.86
23%
1,250
$9.5
14.6
$0.76
52%
Sources: Antero Investor presentation, Baker Hughes, Drilling Info.
31
Mountaineer Midstream – Asset Overview
49 miles of high-pressure gas gathering and compression assets
located in the rich gas window of the Marcellus Shale Play
Asset Details
Map of Mountaineer Assets

Assets commissioned in 4Q 2012

Long-term, fee-based gathering and compression contract with Antero

Significant volume ramp underway

Mountaineer gas is dedicated to MarkWest’s Sherwood Processing
Complex (“Sherwood”)
– Sherwood processing capacity currently at 1,000 MMcf/d and is
expected to increase to 1.4 Bcf/d by 3Q 2015
– Volume throughput increases on Mountaineer expected to track
increases in Sherwood processing capacity

Zinnia Loop increased system throughput capacity from 550 MMcf/d
to 1,050 MMcf/d
– Commissioned in 3Q 2014
Mountaineer Quarterly Throughput
MMcf/d
1,000
MarkWest Energy Partners, L.P.’s
Sherwood Complex
800
Sherwood I – V – 1,000 MMcf/d – Complete
Sherwood VI – 200 MMcf/d – 2Q15
Sherwood VII – 200 MMcf/d – 3Q15
De-ethanization – 40,000 Bbl/d – 3Q15
600
400
200
0
80
96
4Q'12
1Q'13
197
133
135
2Q'13
3Q'13
286
366
416
0
3Q'12
Mountaineer Throughput
4Q'13
1Q'14
2Q'14
Sherwood Processing Capacity
32
3Q'14
Bison Midstream – Strategic Position in Growing Bakken Shale Play
Bakken Shale Play Overview
Map of Bakken Shale
 Currently over 187 rigs operating in the Williston
Basin
Daniels
Valley
Sheridan
Roosevelt
Richland
McCone
– Targeting crude oil production from the Bakken
and Three Forks shale formations
Garfield
Dawson
Rosebud
– Since July 2011, oil production in North Dakota
has grown from approximately 425,000 Bbl/d to
over 1,185,000 Bbl/d as of September 2014
Big Horn
Burke
Williams
Mountrail
McKenzie
Billings
Golden
Wibaux Valley
Prairie
Fallon
Custer
Treasure
Divide
Slope
Bowman
Carter
Powder River
Harding
Renville
Ward
McHenry
Hettinger
Perkins
Burleigh
Morton
Emmons
Sheridan
Crook
Butte
Meade
Logan
Lamoure
McIntosh
Dickey
Ziebach
Potter
Faulk
Spink
Sully
Stanley
Hyde Hand
Beadle
Hughes
1,600
140
1,400
120
MMcf/d
1,200
100
1,000
80
800
60
600
– Represents significant growth potential that is
independent of future drilling activity
Associated natural gas production in the Williston
Basin is expected to grow to 3.1 Bcf/d by 2025
40
400
20
200
0
0
Sep-05 Sep-06 Sep-07 Sep-08 Sep-09 Sep-10 Sep-11 Sep-12 Sep-13 Sep-14
MMcf/d Sold
Sources: Baker Hughes, Drilling Info, Bentek Energy, North Dakota Oil and Gas Division.
33
MMcf/d Flared
Avg. Well Productivity
Mcf/d per Well
North Dakota Natural Gas Production
 Associated natural gas production in North Dakota
has grown from approximately 481 MMcf/d in
September 2011 to 1.4 Bcf/d in September 2014

Brown
Walworth Edmunds
Haakon
 Bison gathers and compresses associated natural
gas
 Approximately 28% of natural gas produced in North
Dakota is currently being flared as of September
2014
Campbell
Stutsman
Campbell McPherson
Corson
Dewey
– Oil production expected to increase to 2 million
Bbl/d by 2025
Eddy
Foster
Kidder
Sioux
Adams
Ramsey
Sheridan Wells
Mercer
Oliver
Grant
Pierce
Cavalier
Towner
Benson
McLean
Dunn
Rolette
Bottineau
Bison Midstream – Asset Overview
Gathering 1,425+ Btu gas from over 676,480 net acres dedicated through 2027
Map of Bison Assets
Asset Details

Associated natural gas gathering system located in Mountrail
and Burke counties in North Dakota

Approximately 300 miles of polyethylene pipeline and 88 miles
of high-pressure steel pipeline

Average throughput of 21 MMcf/d in 3Q 2014 from eight
customers

26 MMcf/d of throughput capacity at six compressor stations

Low-pressure gathering services provided primarily under feebased contracts with major Bakken producers
– MVCs average 12 MMcf/d through 2018

Projects underway to increase capacity to 32 MMcf/d by the end
of 1Q 2015
Aux Sable
Conditioning
Plant
34
DFW Midstream – Strategic Position in Core of Barnett Shale
DFW’s service area includes the most prolific part of the Barnett Shale with the largest wells
Barnett Shale EUR Isopach
Barnett Shale Overview
 DFW system primarily located in southeastern Tarrant
County, Texas
 DFW’s service area encompasses the “core of the core” of
the Barnett Shale
DFW System
– Average per well EURs in excess of 4.1 Bcf(1)
– 4 of the 5 largest Barnett wells ever drilled, including
the two largest, are flowing on the DFW system

Consistent drilling activity even through the trough of
natural gas prices over the last twelve months
1. Netherland, Sewell & Associates, Inc. estimate as of 3Q 2012.
Source: Netherland, Sewell & Associates, Inc.
35
DFW Midstream – Asset Overview
Gathering from 74 pad sites in the “core of the core” of the Barnett
Asset Details
Map of DFW Midstream
 128-mile natural gas gathering system primarily located in
southeastern Tarrant County, TX
 Low-pressure wellhead gathering under long-term, fee-based
contracts which include:
– 148 Bcf of MVCs through 2020
– 108,314 acres dedicated through 2030
 Average throughput of 361 MMcf/d in 3Q 2014 from eight
customers
 In July 2014, executed an agreement with an affiliate of Energy
Spectrum Capital to acquire Lonestar for $10.9 million, a natural
gas gathering system with approximately 13 MMcf/d of current
throughput
– The acquisition closed at the end of the third quarter of
2014
 Five primary interconnects serving Waha, Carthage, Katy,
Perryville and Henry Hub
36
DFW Midstream – Leveraged to Existing Infrastructure
 Given urban environment, DFW’s customers are drilling multiple
wells from single pad sites
Average DFW Pad Site – 5 Wells
2 wells
– Producers trying to minimize surface footprint
3 wells
 DFW has connected 74 drill pad sites
– DFW’s acquisition of Texas Energy Midstream added 3
new pad sites
 Producers have drilled and completed an average of 5 wells per
pad
– Pad sites can accommodate up to 30 wells
 High density pad site drilling leverages scale of DFW Midstream
– Once pad site is connected, additional wells are added at
little to no capex
High Density DFW Pad Site – 22 Wells
 Core of the core is the last part of Barnett to be developed significant future development remains
– DFW’s AMI is approximately 25% developed
37
Grand River – Asset Overview
Positioned in the core of the Piceance Basin with exposure to the liquids-rich
Mesaverde formation as well as the emerging Mancos & Niobrara formations
Asset Details
Map of Grand River
 1,779 mile natural gas gathering and processing system
servicing more than 45 producer customers in western
Colorado and eastern Utah
– Includes legacy Grand River system and Red Rock
system acquired by SMLP (and merged into Grand
River) in March 2014
 Average throughput of 667 MMcf/d in 3Q 2014
 Natural gas interconnects with downstream pipelines service
Enterprise Products Partners L.P.’s (“Enterprise”) Meeker Plant,
Williams Partners L.P.’s Northwest Pipeline system, and Kinder
Morgan Energy Partners L.P.’s TransColorado Pipeline system
 Processed natural gas liquids are injected into Enterprise’s MidAmerica Pipeline system
 Fee-based revenue from long-term contracts include:
– 2.3 Tcf of MVCs through 2026
– 670,960 acres dedicated through 2036
– Annual fee escalators subject to CPI or PPI
38
Legacy Grand River – Actual & Contracted Throughput By System
Grand River MVCs increase at a 5.7% CAGR from 2013 – 2015
and include annual fee escalators tied to CPI or PPI
Mamm Creek Gathering System
 MVCs in place with Encana, WPX, Vanguard and Ursa Resources
 Certain customers currently flowing in excess of MVCs while others
are below and making shortfall payments
 Given the high level of MVCs, throughput volatility does not
necessarily impact cash flow
MMcf/d
500
400
385
376
356
4Q'13
1Q'14
38
36
4Q'13
1Q'14
347
342
2Q'14
3Q'14
35
33
2Q'14
3Q'14
300
200
100
0
3Q'13
Actual Throughput
Contracted Throughput
Orchard Gathering System
 Declining throughput at Orchard given Encana delays related to
Mancos / Niobrara drilling activity
 MVCs are in excess of throughput, thus, throughput volatility does not
impact cash flow
 MVCs grow at 20.6% CAGR from 2013 – 2015
MMcf/d
200
150
100
50
41
0
3Q'13
Actual Throughput
Contracted Throughput
South Parachute Gathering System
 No MVCs
MMcf/d
96
100
80
64
69
83
77
60
40
20
0
3Q'13
39
4Q'13
1Q'14
Actual Throughput
2Q'14
3Q'14
Significant Exposure to Emerging Mancos / Niobrara Shale
Gathering Footprint in Rifle / DeBeque Region of Piceance Basin
WPX Announcement
 In January 2013,
WPX Energy
announced results of
a discovery well in the
Niobrara formation of
the Piceance Basin
– Largest Niobrara
well ever drilled
(including DJ
Basin)
 2.0 Bcf of production
in the first 10 months
of operation
 Discovery Well #2 IP
at 11.8 MMcf/d;
producing 8 MMcf/d
after being choked
back
– Discovery Well #3
drilled in August
Encana Mamm
6-11H (J12A)
 12.0 MMcf/d IP
Encana Orchard
C10OU
 5 HZ wells
 5.2 MMcf/d avg. IP
WPX Energy
Discovery Well #1
 12.0 MMcf/d IP
Encana Orchard
36-1H (ON1)
 12.7 MMcf/d IP
 2.8 Bcf in first 12
months
Encana Mamm
35-2HM (F25NWB)
 10.2 MMcf/d avg. IP
WPX Energy
Discovery Well #2
 11.8 MMcf/d IP
Encana Orchard
C16OU
 3 HZ wells
 6.9 MMcf/d avg. IP
Encana Orchard
D14OU
 2 HZ wells
 6.1 MMcf/d avg. IP
Black Hills
Corp.’s Mancos /
Niobrara acreage
Encana Orchard
P16OU
 2 HZ wells
 7.2 MMcf/d avg. IP
 WPX plans to spud 10
additional Niobrara
wells in 2014
Encana Orchard
K20OU
 6 HZ wells
 5.6 MMcf/d avg. IP
 WPX estimates that
the Mancos / Niobrara
formation in their
Piceance acreage
could add 20 – 30 Tcf
of additional reserves
Legend
Red Rock Gathering
Mancos / Niobrara Well Pad
Grand River Gathering
Sources: Colorado Oil & Gas Conservation Commission & company filings. Locations are approximate.
40