KNTK | Jotup

Kinetik Announces Changes to Its Board of Directors

Retrieved on:

Thursday, April 4, 2024

Energy, Other Energy, Oil, Gas, Health, Partner, Natural gas, Audit, Growth, Enterprise Products, KNTK, Retirement, Safety, Chemical engineering, Engineering, Management

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.

Key Points:

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.
Additionally, coinciding with Apache’s full exit from its shareholding position in Kinetik, Ben Rodgers resigned from the Board of Directors effective April 3, 2024.
Mr. Ordemann will replace Mr. Rodgers, and the Board will continue to consist of eleven independent directors.
Ben Rodgers went on to say, “The relationship between Apache and Kinetik will always be unique and special, and I enjoyed the opportunity to serve on the Board of Directors.

Kinetik Executes New Accounts Receivable Securitization Facility

Retrieved on:

Wednesday, April 3, 2024

Energy, Other Energy, Oil, Gas, KNTK, Term loan, National Association, PNC Financial Services

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.

Key Points:

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 intends to use the net proceeds from the A/R Facility to repay a portion of the outstanding borrowings under its existing Term Loan Credit Facility (“Term Loan”), lowering the remaining balance to $1.0 billion.

Kinetik Announces Pricing of Secondary Offering of Common Stock

Retrieved on:

Thursday, March 14, 2024

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.

Key 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.
In connection with the Offering, the Company’s Chief Executive Officer has agreed to purchase an aggregate of 14,814 shares of Class A common stock from the underwriters at the public offering price.

Kinetik Announces Secondary Offering of Common Stock

Retrieved on:

Wednesday, March 13, 2024

Energy, Other Energy, Oil, Gas, BofA Securities, Mizuho Securities, 3rd Floor, J. P. Morgan, APA Corporation, Offering, Goldman Sachs, KNTK, Telephone, Sale, News, Broadridge Financial Solutions, File, ATTN:, Security (finance)

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.

Key Points:

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.
In connection with the Offering, the Company’s Chief Executive Officer has provided an indication of interest in purchasing shares of Class A common stock from the underwriters at the public offering price.

Kinetik Reports Fourth Quarter and Full Year 2023 Financial and Operating Results and Provides 2024 Guidance

Retrieved on:

Wednesday, February 28, 2024

Oil, Gas, Energy, KNTK, PHP, British thermal unit, Growth, APA Corporation, Adjustment, MVC, WTI, Rail transport by country, Transport, Credit, Holding company

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

Key Points:

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today reported financial results for the quarter and year ended December 31, 2023.
“We reported record volume growth each successive quarter, and exit-to-exit processed gas volumes grew by 22%.
Our initiatives throughout 2023 have positioned us well for future growth with existing customers and market share capture in the Northern Delaware Basin.
Reported full year 2023 Capital Expenditures2 of $531.2 million, within the Company’s guidance range provided in February, and for the fourth quarter 2023 reported Capital Expenditures2 of $95.0 million.

Kinetik Announces Fourth Quarter Dividend and Financial Results Timing

Retrieved on:

Wednesday, January 24, 2024

Oil, Gas, Energy, Transfer, KNTK, Plan, Dividend, Central Time Zone

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.

Key Points:

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.
Kinetik will host its fourth quarter 2023 results conference call on Thursday, February 29, 2024 at 8:00 am Central Standard Time (9:00 am Eastern Standard Time) to discuss fourth quarter results.
Kinetik previously implemented a Dividend Reinvestment Plan (the “DRIP” or the “Plan”) open to all shareholders.
Shareholders who own common stock through a broker should consult their broker regarding participation in the Plan.

Kinetik Prices Upsized $300 Million Private Placement of Additional 6.625% Sustainability-Linked Senior Notes Due 2028

Retrieved on:

Friday, December 15, 2023

Oil, Gas, Energy, Sale, Issuer, Woman, ISS, NYSE, Senior, Indenture, SPO, Debt-to-GDP ratio, Note, Methane, Person, SEC Rule 144A, Regulation, KNTK, Offering, News, Security (finance), Framework, Kinetik

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”).

Key Points:

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 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 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”).

Kinetik Announces $200 Million Private Placement of Additional 6.625% Sustainability-Linked Senior Notes due 2028

Retrieved on:

Friday, December 15, 2023

Sustainability, Energy, Environment, Oil, Gas, Sale, Issuer, Woman, ISS, NYSE, Senior, Indenture, SPO, Debt-to-GDP ratio, Note, Methane, Person, SEC Rule 144A, Regulation, KNTK, Offering, News, Security (finance), Framework, 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, $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”).

Key Points:

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.
Kinetik published a Sustainability-Linked Financing Framework (the “Framework”) on May 16, 2022 and obtained a second party opinion (“SPO”) on the Framework from ISS ESG.

Kinetik Announces Pricing of Upsized Secondary Offering of Common Stock

Retrieved on:

Tuesday, December 12, 2023

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.

Key Points:

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 Announces Secondary Offering of Common Stock

Retrieved on:

Monday, December 11, 2023

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.

Key Points:

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.
In connection with the Offering, certain of the Company’s officers and directors, including the Chief Executive Officer, have provided an indication of interest in purchasing shares of Class A common stock from the underwriters at the public offering price.