Bear Tracker Energy holds assets that are currently in service or are under development in the Williston Basin in North Dakota and includes the Bakken shale and Three Forks formation.

In addition, the company has assets in the Denver-Julesburg (DJ) Basin in Colorado, which includes the Niobrara shale.

Bear Tracker Energy owns, operates, develops natural gas gathering and processing assets alongside crude oil and water gathering assets and provides fee-based services for producers in Williston and DJ Basins.

Summit Investments president and chief executive officer Steve Newby said the acquisition provides the company a diversified portfolio.

"This acquisition provides us with a significant presence in two of the most prolific and highest growth unconventional crude oil basins in North America, and creates a platform from which to pursue the development of currently planned and future natural gas and crude oil midstream infrastructure growth projects," Newby said.

Bear Tracker Energy assets include 436km long Mountrail Gas Gathering System in Mountrail and Burke counties in North Dakota; Polar Oil & Water Gathering System that has a 80.4km long crude oil gathering system and a 56km long water gathering system currently under construction in Williams County, North Dakota.

The assets also include Divide Oil Gathering System, an 138.4km crude oil gathering system located in Divide County, North Dakota; and Niobrara Gas Gathering System, a 135km associated natural gas gathering system, including a 20 MMcf/d cryogenic processing plant.

Subject to regulatory approvals and closing conditions, the deal is expected to close in the first quarter of 2013.