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Kinetik Holdings Inc. - KNTK STOCK NEWS

Welcome to our dedicated page for Kinetik Holdings news (Ticker: KNTK), a resource for investors and traders seeking the latest updates and insights on Kinetik Holdings stock.

Kinetik Holdings Inc. (Symbol: KNTK) is a prominent midstream operator specializing in the gathering, processing, and transportation of natural gas and oil. Based in Houston, Texas, Kinetik exclusively serves the Permian Basin, a rich energy-producing region in West Texas. The company owns extensive infrastructure assets, including approximately 178 miles of natural gas gathering pipelines, 55 miles of residue gas lines, and 38 miles of natural gas liquids (NGL) pipelines. Additionally, Kinetik operates three cryogenic processing trains and an NGL truck loading terminal equipped with six lease automatic custody transfer units and eight NGL bullet tanks.

As a subsidiary of Apache Midstream LLC, Kinetik plays a crucial role in connecting energy producers to market hubs and other major pipelines. Its strategic partnerships and ownership stakes in various pipelines facilitate the transport of natural gas and NGLs to the Gulf Coast, thus granting the company access to export markets and international demand.

In recent developments, Kinetik has made significant strides in sustainability and innovation. One notable achievement is the agreement with Infinium, a leader in eFuels, to dedicate carbon dioxide (CO2) from Kinetik’s gas gathering and processing system in the Permian Basin for the production of ultra-low carbon electrofuels. This partnership underscores Kinetik’s commitment to reducing carbon emissions and pioneering energy transition efforts.

Kinetik’s robust operational framework and strategic initiatives position it as a key player in the midstream sector, providing comprehensive services that include gathering, transportation, compression, processing, and treating natural gas, NGLs, crude oil, and water. The company continually updates investors and stakeholders through announcements, operational updates, and press releases on its website, offering transparency and fostering trust in its business practices.

For more information, visit Kinetik's official website.

News

Kinetik Announces Changes to Its Board of Directors

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Kinetik Holdings Inc. (NYSE: KNTK) appoints William Ordemann to its Board of Directors, replacing Ben Rodgers. Ordemann brings 38 years of energy industry experience and served in executive roles at Enterprise Products Partners L.P. He aims to enhance Kinetik's strategic vision and execution.
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Kinetik Executes New Accounts Receivable Securitization Facility

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Kinetik Holdings Inc. (NYSE: KNTK) announced a $150 million accounts receivable securitization facility agreement with PNC Bank, extending the maturity of its Term Loan Credit Facility to December 2026.
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Kinetik Announces Pricing of Secondary Offering of Common Stock

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Kinetik Holdings Inc. (NYSE: KNTK) announced a secondary offering of 11,373,801 shares of its Class A common stock by Apache Midstream LLC at $33.75 per share. The Company will not receive proceeds from the sale. The underwriters have an option to purchase additional shares. CEO to purchase 14,814 shares at the public offering price.
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Kinetik Announces Secondary Offering of Common Stock

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Kinetik Holdings Inc. (NYSE: KNTK) announced a secondary offering of 11,373,801 shares of its Class A common stock by Apache Midstream LLC, a subsidiary of Apache Corporation. The Company will not receive proceeds from the sale. The Offering includes a 30-day option for additional shares. The Chief Executive Officer expressed interest in purchasing shares. Goldman Sachs, BofA Securities, J.P. Morgan, and Mizuho are acting as joint lead managers for the Offering.
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Kinetik Reports Fourth Quarter and Full Year 2023 Financial and Operating Results and Provides 2024 Guidance

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Kinetik Holdings Inc. (NYSE: KNTK) reported strong financial results for Q4 2023, with net income of $267.4 million and Adjusted EBITDA of $228.0 million. The full year 2023 net income was $386.5 million, with Adjusted EBITDA of $838.8 million. The company issued guidance for 2024 with Adjusted EBITDA expected to be between $905 million and $960 million. Kinetik completed strategic growth projects in 2023, positioning itself for future growth.
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Kinetik Announces Fourth Quarter Dividend and Financial Results Timing

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Kinetik Holdings Inc. (NYSE: KNTK) has declared a cash dividend of $0.75 per share ($3.00 on an annualized basis) for the fourth quarter of 2023. The dividend will be paid on March 7, 2024, to shareholders of record as of February 22, 2024. The company will host its fourth quarter 2023 results conference call on February 29, 2024, to discuss the earnings release scheduled for February 28, 2024.
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Kinetik Prices Upsized $300 Million Private Placement of Additional 6.625% Sustainability-Linked Senior Notes Due 2028

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Kinetik Holdings Inc. (NYSE: KNTK) announced that its subsidiary, Kinetik Holdings LP, has priced its offering of $300 million sustainability-linked senior notes due 2028. The offering was increased from $200 million to $300 million, with an interest rate of 6.625% per year. The net proceeds will be used to repay outstanding borrowings under its existing Term Loan Credit Facility. The Offering is expected to close on December 19, 2023.
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Kinetik Announces $200 Million Private Placement of Additional 6.625% Sustainability-Linked Senior Notes due 2028

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Kinetik Holdings Inc. (NYSE: KNTK) is offering $200 million in sustainability-linked senior notes due 2028 to repay outstanding borrowings under its existing Term Loan Credit Facility. The interest rate on the Senior Notes is tied to Kinetik's performance against sustainability targets. The company published a Sustainability-Linked Financing Framework and obtained a second-party opinion from ISS ESG.
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Kinetik Announces Pricing of Upsized Secondary Offering of Common Stock

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Kinetik Holdings Inc. (NYSE: KNTK) announced the pricing of an upsized underwritten secondary offering of 6,500,000 shares of its Class A common stock by Apache Midstream LLC, a subsidiary of Apache Corporation, at a price of $31.50 per share. The Offering was upsized from the previously announced 6,000,000 shares based on strong investor demand. Certain officers and directors of the Company have agreed to purchase an aggregate of 63,492 shares of Class A common stock from the underwriters at the public offering price.
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Kinetik Announces Secondary Offering of Common Stock

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Kinetik Holdings Inc. (NYSE: KNTK) announced the commencement of an underwritten secondary offering of 6,000,000 shares of its Class A common stock by Apache Midstream LLC, a subsidiary of Apache Corporation. The Offering is subject to market conditions, with J.P. Morgan, Barclays, RBC Capital Markets, and TD Securities acting as joint lead book-running managers.
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FAQ

What is the current stock price of Kinetik Holdings (KNTK)?

The current stock price of Kinetik Holdings (KNTK) is $44.13 as of September 6, 2024.

What is the market cap of Kinetik Holdings (KNTK)?

The market cap of Kinetik Holdings (KNTK) is approximately 2.6B.

What services does Kinetik Holdings Inc. provide?

Kinetik provides gathering, transportation, compression, processing, and treating services for natural gas, NGLs, crude oil, and water.

Where is Kinetik Holdings Inc. based?

Kinetik is headquartered in Houston, Texas, with a significant presence in Midland, Texas.

What recent achievements has Kinetik made?

Kinetik has partnered with Infinium to use CO2 from its gas gathering system for ultra-low carbon electrofuels production.

What infrastructure does Kinetik Holdings Inc. own?

Kinetik owns 178 miles of natural gas gathering pipelines, 55 miles of residue gas lines, 38 miles of NGL pipelines, and operates cryogenic processing trains and an NGL truck loading terminal.

What markets does Kinetik connect with?

Kinetik connects the Permian Basin fields to market hubs and larger pipelines, granting access to export markets and international demand.

Who is Kinetik Holdings Inc. a subsidiary of?

Kinetik is a subsidiary of Apache Midstream LLC.

How does Kinetik contribute to sustainability?

Kinetik focuses on reducing carbon emissions and pioneering energy transition efforts through partnerships like the one with Infinium for electrofuels.

Where can I find more information about Kinetik's updates and news?

You can find the latest announcements, operational updates, and press releases on Kinetik's official website, www.kinetik.com.

What is the significance of Kinetik's partnership with Infinium?

The partnership is significant as it demonstrates Kinetik's leadership in reducing carbon emissions and supporting new low-carbon technologies.

What is Kinetik's role in the midstream sector?

Kinetik plays a key role by providing essential midstream services, thus facilitating efficient energy production and distribution in the Permian Basin.

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Kinetik Holdings Inc.

NYSE:KNTK

KNTK Rankings

#1708 Ranked by Market Cap
#399 Ranked by Dividends

KNTK Stock Data

2.62B
59.74M
17%
86.61%
3.03%
Oil & Gas Midstream
Natural Gas Transmission
Link
United States of America
HOUSTON