Articles from Kinetik Holdings Inc.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today announced it has entered into a definitive agreement with Permian Resources Corporation (NYSE: PR) (“Permian Resources”) whereby Kinetik will acquire Permian Resources’ natural gas and crude oil gathering systems (the “Assets”) primarily located in Reeves County, Texas for $180 million of cash consideration (the “Transaction”). The Transaction provides a multi-stream opportunity for natural gas gathering, compression and processing, as well as crude gathering services for Kinetik.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today reported financial results for the quarter ended September 30, 2024.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today announced that its Board of Directors has declared an increase to its quarterly cash dividend to $0.78 per share, or $3.12 per share on an annualized basis, for the third quarter ended September 30, 2024.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today announced Todd Carpenter, General Counsel and Chief Compliance Officer, informed Kinetik of his intent to retire from the Company effective February 28, 2025. Mr. Carpenter will continue his current day-to-day responsibilities and ensure a seamless transition. Following his retirement, he will provide ongoing support to the Company. Kinetik has commenced an internal and external search for Mr. Carpenter’s successor and will make an announcement in due course.

Diamondback Energy, Inc. (NASDAQ: FANG) (“Diamondback”), Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik”) and EPIC Midstream Holdings LP (“EPIC Midstream”), today announced a series of transactions to support the continued growth and strengthened financial profile of EPIC Crude Holdings, LP (“EPIC Crude”), an affiliate of EPIC Midstream, including:

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) published its 2023 Sustainability Report (the “Report”), highlighting its sustainability initiatives, advancements and achievements throughout 2023. The Report provides a transparent and comprehensive review of Kinetik’s progress towards a safer, cleaner, and more reliable energy future and its continued commitment to sustainability and responsible corporate practices.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today reported financial results for the quarter ended June 30, 2024.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) has declared a cash dividend of $0.75 per share ($3.00 on an annualized basis) for the second quarter ended June 30, 2024. The announced quarterly dividend is consistent with prior communications and will be paid on Wednesday, August 7, 2024 to shareholders of record as of market close on Monday, July 29, 2024.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today completed its previously announced acquisition of Durango Permian LLC (“Durango”), a robust platform with exciting potential in the Northern Delaware Basin.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today announced the completion of its previously announced sale and direct transfer of its 16% equity interest in the Gulf Coast Express pipeline to an affiliate of ArcLight Capital Partners LLC for $510 million in upfront cash and an additional $30 million deferred cash payment due upon a final investment decision on a capacity expansion project.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today announced it has entered into a series of agreements under which Kinetik will (i) acquire Durango for an aggregate $765 million of cash and equity with up to $75 million of contingent consideration tied to the capital cost for the Kings Landing complex (“Kings Landing”), which is currently under construction, (ii) provide low-pressure and high-pressure natural gas gathering and processing services under a newly executed, 15-year agreement with a large existing Kinetik customer in Eddy County, New Mexico, an approximately $200 million capital investment through 2026, and (iii) divest its 16% equity interest in GCX for 100% cash for a total of $540 million.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today reported financial results for the quarter ended March 31, 2024.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) has declared a cash dividend of $0.75 per share ($3.00 on an annualized basis) for the first quarter ended March 31, 2024. The announced quarterly dividend is consistent with prior communications and will be paid on Thursday, May 9, 2024 to shareholders of record as of market close on Monday, April 29, 2024.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) announced the appointment of William (“Bill”) Ordemann to the Kinetik Board of Directors, effective April 3, 2024. Mr. Ordemann will serve as a member of the Audit and Governance & Sustainability Committees.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today announced that one of its subsidiaries has entered into an agreement with PNC Bank, National Association for a $150 million accounts receivable securitization facility (“A/R Facility”) which matures April 2025 with an ongoing renewal mechanism. The initial borrowing base of $150 million will vary with the value of the Company's accounts receivable balance. Borrowings under the A/R Facility bear interest at the one-month term SOFR rate plus 90 basis points.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) announced today the pricing of an underwritten secondary offering of 11,373,801 shares of its Class A common stock (the “Offering”) by Apache Midstream LLC (the “Selling Stockholder”), a subsidiary of Apache Corporation, at a price of $33.75 per share. Kinetik is not selling any shares of Class A common stock in the Offering and will not receive the proceeds from any sale of shares by the Selling Stockholder. The Selling Stockholder has granted to the underwriters a 30-day option to purchase up to an additional 1,706,070 shares of Kinetik’s Class A common stock.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) announced today the commencement of an underwritten secondary offering of 11,373,801 shares of its Class A common stock (the “Offering”) by Apache Midstream LLC (the “Selling Stockholder”), a subsidiary of Apache Corporation. Kinetik is not selling any shares of Class A common stock in the Offering and will not receive the proceeds from any sale of shares by the Selling Stockholder. In connection with the Offering, the Selling Stockholder intends to grant to the underwriters a 30-day option to purchase up to an additional 1,706,070 shares of Kinetik’s Class A common stock. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today reported financial results for the quarter and year ended December 31, 2023.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) has declared a cash dividend of $0.75 per share ($3.00 on an annualized basis) for the fourth quarter ended December 31, 2023. The announced quarterly dividend is consistent with prior communications and will be paid on Thursday, March 7, 2024 to shareholders of record as of market close on Thursday, February 22, 2024.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik”) today announced that its subsidiary, Kinetik Holdings LP (the “Issuer”), has priced its previously announced offering of $300 million sustainability-linked senior notes due 2028 (the “Senior Notes”). The size of the offering was increased from the previously announced $200 million to $300 million. The Senior Notes were priced at 100.500% of par, plus accrued and unpaid interest from December 6, 2023. The Senior Notes mature on December 15, 2028, pay interest at the rate of 6.625% per year and are payable on June 15 and December 15 of each year. The first interest payment will be made on June 15, 2024. The Senior Notes will be fully and unconditionally guaranteed by Kinetik. The Issuer intends to use the net proceeds from the Offering to repay a portion of the outstanding borrowings under its existing Term Loan Credit Facility. The Offering is expected to close on December 19, 2023, subject to customary closing conditions.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik”) announced today that its subsidiary, Kinetik Holdings LP (the “Issuer”), intends to offer, subject to market and other conditions, $200 million aggregate principal amount of sustainability-linked senior notes due 2028 (the “Senior Notes”) in an offering (the “Offering”) pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The Senior Notes are being offered as additional notes under the indenture dated as of December 6, 2023, as may be supplemented from time to time (the “Indenture”), pursuant to which the Issuer has previously issued $500 million aggregate principal amount of 6.625% Sustainability-Linked Senior Notes due 2028 (the “Existing Notes”). The Senior Notes will have substantially identical terms, other than the issue date and issue price, as the Existing Notes, and the Senior Notes and the Existing Notes will be treated as a single series of securities under the Indenture and will vote together as a single class. The Issuer intends to use the net proceeds from the Offering to repay a portion of the outstanding borrowings under its existing Term Loan Credit Facility.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) announced today the pricing of an upsized underwritten secondary offering of 6,500,000 shares of its Class A common stock (the “Offering”) by Apache Midstream LLC (the “Selling Stockholder”), a subsidiary of Apache Corporation, at a price of $31.50 per share. Kinetik is not selling any shares of Class A common stock in the Offering and will not receive the proceeds from any sale of shares by the Selling Stockholder. The Offering was upsized from the previously announced 6,000,000 shares based on strong investor demand. The Selling Stockholder has granted to the underwriters a 30-day option to purchase up to an additional 975,000 shares of Kinetik’s Class A common stock.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) announced today the commencement of an underwritten secondary offering of 6,000,000 shares of its Class A common stock (the “Offering”) by Apache Midstream LLC (the “Selling Stockholder”), a subsidiary of Apache Corporation. Kinetik is not selling any shares of Class A common stock in the Offering and will not receive the proceeds from any sale of shares by the Selling Stockholder. In connection with the Offering, the Selling Stockholder intends to grant to the underwriters a 30-day option to purchase up to an additional 900,000 shares of Kinetik’s Class A common stock. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik”) today announced that its subsidiary, Kinetik Holdings LP (the “Issuer”), has priced its previously announced offering of $500 million sustainability-linked senior notes due 2028 (the “Senior Notes”). The Senior Notes were priced at par. The Senior Notes mature on December 15, 2028, pay interest at the rate of 6.625% per year and are payable on June 15 and December 15 of each year. The first interest payment will be made on June 15, 2024. The Senior Notes will be fully and unconditionally guaranteed by Kinetik.

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik”) announced today that its subsidiary, Kinetik Holdings LP (the “Issuer”), intends to offer, subject to market and other conditions, $500 million aggregate principal amount of sustainability-linked senior notes due 2028 (the “Senior Notes”) in an offering (the “Offering”) pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (the “Securities Act”). The Senior Notes will be fully and unconditionally guaranteed by Kinetik.