The share price of Summit Midstream Corporation (NYSE:SMC) surged by 4.67% between November 14 and November 21, 2025, putting it among the Energy Stocks that Gained the Most This Week.
Summit Midstream Corporation (NYSE:SMC) focuses on developing, owning, and operating midstream energy infrastructure assets strategically located in unconventional resource basins, primarily shale formations, across the continental United States.
Summit Midstream Corporation (NYSE:SMC) posted its third-quarter results on November 10, with the company reporting a 7.2% sequential growth in adjusted EBITDA to $65.5 million, primarily due to higher natural gas volumes in the Rockies segment. Revenue also surged by 43.5% YoY to almost $147 million.
Summit Midstream Corporation (NYSE:SMC) connected 21 new wells during the quarter, while its Double E Pipeline transported record volumes, indicating robust demand and efficient operations. The company expects to continue on this trajectory, with an aim to add approximately 50 wells in Q4 and more than 120 new wells in the first half of 2026. However, the firm’s management reaffirmed that 2025 results are expected to be towards the low end of the original adjusted EBITDA guidance range, primarily due to delayed well connects.
Heath Deneke, President, CEO, and Chairman of Summit Midstream Corporation (NYSE:SMC), stated in the company’s Q3 earnings call:
“We had a solid third quarter with continued growth across our operating footprint. Adjusted EBITDA increased 7.2% from the prior quarter, representing approximately $260 million of run-rate adjusted EBITDA, driven by higher natural gas volumes in the Rockies region. We continue to see healthy customer activity with five rigs currently running behind our assets. In the Arkoma Basin, one of our key customers began drilling the 20-well program we discussed last quarter, which is expected to drive 5% to 10% volumetric growth next year. In the Rockies, natural gas volumes increased 7.5% quarter-over-quarter, averaging approximately 170 MMcf/d in September, supported by ongoing development from our core customers.
As we discussed in second quarter earnings, we continue to expect to finish the year near the low end of our original adjusted EBITDA guidance range of $245 million to $280 million, primarily due to timing delays of anticipated customer activity, however, we anticipate well connects to come in around the midpoint of our full-year expectations, with 109 wells connected year-to-date and approximately 50 wells expected to be connected in the fourth quarter.”
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