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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.
Kinetik Holdings Inc. (NYSE: KNTK) has announced a cash dividend of
The first-quarter results conference call is scheduled for
Further details on the DRIP are outlined in the Company’s Form S-3 registration statement filed with the
Kinetik Holdings reported a strong financial performance for the full year 2022, with net income of $250.7 million and Pro Forma Adjusted EBITDA of $822.2 million. For Q4 2022, net income was $48.5 million and Pro Forma Adjusted EBITDA reached $211.1 million. Kinetik issued guidance for 2023 Adjusted EBITDA between $800 million and $860 million, projecting a 15% increase in processed gas volumes. The company announced a $100 million share repurchase program and is expanding its operations into Lea County, New Mexico, underpinned by a long-term gathering agreement. Capital expenditures for 2023 are estimated at $490 million to $540 million.
Kinetik Holdings Inc. (NYSE: KNTK) announced a cash dividend of $0.75 per share, amounting to $3.00 annually, for Q4 2022. This dividend aligns with previous communications and will be paid on February 16, 2023, to shareholders on record as of February 6, 2023. A conference call to discuss Q4 results is scheduled for February 28, 2023, at 8:00 AM CST. Kinetik also offers a Dividend Reinvestment Plan (DRIP), where major stakeholders are reinvesting their dividends. Full details are available on their website.
Kinetik Holdings reported a strong third quarter for 2022, achieving a net income of $49.4 million and an Adjusted EBITDA of $212.4 million. The company processed a record 1.2 Bcf/d of natural gas. Kinetik has reaffirmed its 2022 guidance for Pro Forma Adjusted EBITDA of $820 to $840 million and capital expenditures of $280 to $300 million. The acquisition of the Brandywine NGL pipeline enhances Kinetik's system. Kinetik declared a quarterly dividend of $0.75 per share, with a significant number of shares reinvested.
Kinetik Holdings Inc. (NASDAQ: KNTK) announced a cash dividend of $0.75 per share for the third quarter ending September 30, 2022, consistent with prior announcements. This equates to an annualized dividend of $3.00 and will be paid on November 17, 2022. Shareholders of record by the market close on November 7, 2022 will receive this payment. The company will release its third-quarter earnings on November 9, 2022, followed by a conference call on November 10, 2022. Kinetik also has a Dividend Reinvestment Plan (DRIP) in place to allow shareholders to reinvest dividends into additional shares.
Kinetik Holdings Inc. (NASDAQ: KNTK) announced its transfer of Class A Common Stock to the New York Stock Exchange (NYSE) from Nasdaq. Trading on NYSE will commence on October 24, 2022, under the existing ticker symbol 'KNTK.' Until October 21, 2022, Kinetik's shares will continue trading on Nasdaq before being delisted. The CEO, Jamie Welch, and management will commemorate the listing by ringing the NYSE opening bell, also marking the one-year anniversary of Kinetik's formation from a business combination of Altus Midstream Company and BCP Raptor Holdco LP.
Kinetik Holdings Inc. (NASDAQ: KNTK) has revised its 2022 Pro Forma Adjusted EBITDA guidance upwards to $820 million to $840 million, reflecting a 5% increase. The company completed a $3.0 billion sustainability-linked refinancing, retiring all existing debt, and issued a new $1.25 billion revolving credit facility. The Permian Highway Pipeline expansion has been greenlit, with completion expected by November 2023. Kinetik processed natural gas volumes of 1.16 Bcf/d for Q2 2022, reporting net income of $131.4 million and Pro Forma Free Cash Flow of $127 million for the same period.
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