Kinetik Announces Bolt-On Acquisition of Gas and Crude Gathering Systems in Texas Delaware Basin from Permian Resources
Transaction Highlights:
- Approximately 60,000 gross operated acres dedicated by Permian Resources under long-term, fixed-fee agreements for natural gas gathering, compression and processing and crude oil gathering services
- More than 250 Mmcf/d of primarily owned electric compression with corresponding ownership of a private electric distribution system
- More than 150 Mmcf/d of gas gathered volumes and 25 Mb/d of crude gathered volumes in 2025
- The Transaction is highly competitive with Kinetik’s high-quality, organic backlog and meets our strict investment criteria
- Additional upside with control of residue gas and natural gas liquids from the dedicated rich gas via system optimization and integration with existing assets
“This investment opportunity reinforces our strategic partnership with Permian Resources, which is one of the most active and lowest cost operators in the Delaware Basin,” said Jamie Welch, Kinetik’s President & Chief Executive Officer. “We are excited to further expand our
The transaction is expected to close in the first quarter of 2025 following satisfaction of customary closing conditions, including under the Hart-Scott-Rodino Antitrust Improvements Act of 1976.
About Kinetik Holdings Inc.
Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast midstream C-corporation operating in the
Forward-looking statements
This news release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. While forward-looking statements are based on assumptions and analyses that we believe to be reasonable under the circumstances, whether actual results and developments will meet our expectations and predictions depend on a number of risks and uncertainties which could cause our actual results, performance, and financial condition to differ materially. See Part I, Item 1A. Risk Factors in our Annual Report on Form 10-K for the year ended December 31, 2023. Any forward-looking statement made by us in this news release speaks only as of the date on which it is made. We undertake no obligation to publicly update any forward-looking statement whether as a result of new information, future development, or otherwise, except as may be required by law.
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Kinetik Investors:
Alex Durkee
(713) 574-4743
investors@kinetik.com
Source: Kinetik Holdings Inc.