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EQUITY METHOD INVESTMENTS | 12 Months Ended
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Dec. 31, 2025
Equity Method Investments and Joint Ventures [Abstract] |
EQUITY METHOD INVESTMENTS | 7. EQUITY METHOD INVESTMENTS As of December 31, 2025, the Company has an equity method investment in Double E, the balance of which is included in the Investment in equity method investees caption on the consolidated balance sheets. On March 22, 2024, in connection with the Utica Sale, the Company sold its investment in Ohio Gathering and recognized a $126.3 million gain, which is recorded within Gain on sale of equity method investment within the consolidated statements of operations. See Note 3 - Acquisitions and Divestitures for additional information. Details of the Company’s equity method investments follow.
| December 31, 2025 |  | December 31, 2024
| (In thousands)
Double E (1) | $ | 265,583 |  |  | $ | 269,561 |
(1) The Company’s investment balance in Double E includes capitalized interest costs. Double E. The Company, through its wholly owned subsidiary Summit Permian Transmission, LLC (“Summit Permian Transmission”), has a 70% ownership in Double E Pipeline, LLC (“Double E”). Double E owns a long-haul natural gas pipeline (the “Double E Pipeline”) that provides transportation service for residue natural gas from multiple receipt points in the Delaware Basin to various delivery points in and around the Waha hub in Texas. The Double E Pipeline commenced operations in November 2021 and during the years ended December 31, 2025 and 2024, the Company made cash investments of $3.8 million and $3.9 million, respectively, in Double E. During the year ended December 31, 2025, Double E made distributions to its investors totaling $44.0 million of which the Company received $30.8 million. All amounts received by the Company were utilized for payment of interest and principal on the Permian Transmission Term Loan and distributions to the holders of the Subsidiary Series A Preferred Units. Double E is deemed to be a variable interest entity as defined in GAAP. Summit Permian Transmission was not deemed to be the primary beneficiary of Double E due to the voting rights of Double E’s other owner regarding significant matters. The Company accounts for its ownership interest in Double E as an equity method investment because it has significant influence over Double E. Summarized balance sheet information for Double E follows (amounts represent 100% of investee financial information).
| December 31, 2025 |  | December 31, 2024
| (In thousands)
Current assets | $ | 9,850 |  |  | $ | 10,762 |
Noncurrent assets | 374,971 |  |  | 385,837 |
Total assets | $ | 384,821 |  |  | $ | 396,599 |
Current liabilities | $ | 6,780 |  |  | $ | 10,987 |
Noncurrent liabilities | 10,424 |  |  | 11,890 |
Total liabilities | $ | 17,204 |  |  | $ | 22,877 |
Summarized statements of operations information for Double E follows (amounts represent 100% of investee financial information).
| Year Ended December 31, 2025
| Year Ended December 31, 2025 |  | Year Ended December 31, 2024 | Year Ended | Year Ended December 31, 2023
| (In thousands)
Total revenues | $ | 56,889 |  |  | $ | 52,981 |  |  | $ | 42,335 |
Total operating expenses | 27,611 |  |  | 28,328 |  |  | 26,868 |
Net income | $ | 29,270 |  |  | $ | 24,660 |  |  | $ | 15,467 |
As of December 31, 2025 and 2024, the Company’s carrying amount of its interest in Double E approximated its underlying investment. Ohio Gathering. The Company had an investment in OGC and OCC that was collectively referred to as Ohio Gathering. Ohio Gathering owned, operated and developed midstream infrastructure consisting of a liquids-rich natural gas gathering system, a dry natural gas gathering system and a condensate stabilization facility in the Utica Shale in southeastern Ohio. Ohio Gathering provided gathering services pursuant to primarily long-term, fee-based gathering agreements, which included acreage dedications. As previously discussed, on March 22, 2024, the Company completed the Utica Sale. Summit Utica was the owner of Ohio Gathering. Ohio Gathering was accounted for as an equity method investment because it had joint control with non-affiliated owners, which gave the Company significant influence. For the years ended December 31, 2024 and 2023, equity in earnings from our equity method investee Ohio Gathering totaled $7.0 million and $22.9 million, respectively.

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- Definition The entire disclosure for equity method investments and joint ventures. Equity method investments are investments that give the investor the ability to exercise significant influence over the operating and financial policies of an investee. Joint ventures are entities owned and operated by a small group of businesses as a separate and specific business or project for the mutual benefit of the members of the group. + References Reference 1: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 740 -SubTopic 323 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org/1943274/2147478156/740-323-50-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a)(3) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 323 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481687/323-10-50-3 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 323 -Publisher FASB -URI https://asc.fasb.org/323/tableOfContent + Details
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