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DEBT (Tables)

9 Months Ended

Sep. 30, 2024

Debt Disclosure [Abstract]

Schedule of Debt

Debt for the Company at September 30, 2024 and December 31, 2023, follows:

			September 30, 2024						December 31, 2023
			(In thousands)
Amended and Restated ABL Facility: Summit Holdings’ asset based credit facility due July 2029			$	150,000					$	313,000
Permian Transmission Term Loan: Summit Permian Transmission’s variable rate senior secured term loan due January 2028			133,291						144,846
2029 Secured Notes: 8.625% senior secured second lien notes due October 2029			575,000						—
2026 Unsecured Notes: 12.00% senior unsecured notes due October 2026			—						209,510
2025 Senior Notes: 5.75% senior unsecured notes due April 2025			—						49,783
2026 Secured Notes: 8.50% senior second lien notes due October 2026			114,659						785,000
Less: unamortized debt discount and debt issuance costs			(15,985)						(31,449)
Total debt, net of unamortized debt discount and debt issuance costs			956,965						1,470,690
Less: current portion of Permian Transmission Term Loan and 2026 Secured Notes			(130,512)						(15,524)
Total long-term debt			$	826,453					$	1,455,166

Schedule of Maturities of Long-term Debt

Below is a summary of the remaining mandatory principal repayments as of September 30, 2024:

(In thousands)						Total						2024						2025						2026						2027						2028
Amortizing principal repayments						$	133,291					$	3,969					$	16,580					$	16,967					$	17,769					$	78,006

Schedule of Redemption Price

Thereafter, Summit Holdings may redeem all or a portion of the 2029 Secured Notes in whole at any time or in part from time to time at the following redemption prices (expressed as percentages of the principal amount) plus accrued and unpaid interest if redeemed during the periods indicated below:

Period						Redemption Price
July 31, 2026 to July 30, 2027						104.313		%
July 31, 2027 to July 30, 2028						102.156		%
July 31, 2028 and thereafter						100.000		%

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