Evolve Transition Infrastructure LP (SNMP)

[tw0122]

Excellent news $10 million coming from court settlement!!

6/7/2022– Evolve expects to use the $10 million from the payments received and to be received in connection with the Settlement Agreement and Restated Gathering Agreement for both debt repayment and general partnership expenses. As a result, Evolve anticipates less than $30 million of to debt outstanding as of September 30, 2022, which represents a significant reduction from $180 million as of December 31, 2018.
“Today’s settlement of our prior disputes with Mesquite represents a critical step forward for Evolve and we are pleased with this favorable outcome,” said Randall Gibbs, CEO of the general partner of Evolve. “The settlement proceeds will allow us not only to pay down debt but move forward with a renewed focus on our continued dedication to the energy transition.”

Estimated Short Interest as of 6/3/22 60.85 Percent