Woodlands-based midstream co., Exxon’s XTO Energy strike deal for Permian system

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The Woodlands-based Summit Midstream Partners LP (NYSE: SMLP) and XTO Energy Inc., a subsidiary of Exxon Mobil Corp. (NYSE: XOM), announced July 7 a deal for the creation of a new natural gas gathering and processing system. Summit will develop, own and operate the system, which will service acreage in the New Mexico portion of the Permian Basin’s northern Delaware Basin. The project is expected to cost about $110 million, and the initial phase should be operational by June 2018. The system initially…


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