NYSE:KNTK | Jotup

Staples, Inc. Announces Commencement of Exchange Offer for Outstanding 10.75% Senior Notes due 2027 and Consent Solicitation

Retrieved on:

Friday, May 10, 2024

Retail, Office Products, Debt-to-GDP ratio, Exchange offer, ABL, Sponsor, Exchange, Consent, First Option, Solicitation, Expiration, Senior, Old, Judgement, Staples Inc., Lien, Partial, Note, Security (finance)

Therefore, the Company expects to have the necessary Consents to adopt the Proposed Amendments, assuming the consummation of the Exchange Offer and Consent Solicitation.

Key Points:

Therefore, the Company expects to have the necessary Consents to adopt the Proposed Amendments, assuming the consummation of the Exchange Offer and Consent Solicitation.
Each Eligible Holder that tenders Old Notes into the Exchange Offer will be deemed to have given its Consent to the Proposed Amendments with respect to those tendered Old Notes.
The Early Exchange Time or the Expiration Date with respect to the Exchange Offer and Consent Solicitation can be extended independently of the Withdrawal Deadline for the Exchange Offer and Consent Solicitation.
The following table sets forth the Early Exchange Consideration and Late Exchange Consideration to be offered to Eligible Holders of the Old Notes in the Exchange Offer:

The Next Chapter: $1 Billion of Strategic, Accretive Northern Delaware Transactions and Divestiture of its 16% Interest in the Gulf Coast Express Pipeline

Retrieved on:

Thursday, May 9, 2024

Oil, Gas, Energy, Sale, Transport, Lea, Delaware Basin, Capital expenditure, Central Time Zone, Public expenditure, KNTK, Hart–Scott–Rodino Antitrust Improvements Act, Adjustment, HSR

“The Durango Acquisition and New Eddy County Agreement together represent approximately $1 billion of new investment.

Key Points:

“The Durango Acquisition and New Eddy County Agreement together represent approximately $1 billion of new investment.
These actions efficiently and accretively recycle cash proceeds from a non-operated asset into highly strategic, operated assets.
To access a live webcast of the conference call, please visit the Investors section of Kinetik’s website at www.ir.kinetik.com .
A replay of the conference call will also be available on the website following the call.

Kinetik Reports First Quarter 2024 Financial and Operating Results

Retrieved on:

Wednesday, May 8, 2024

Energy, Other Energy, Oil, Gas, Permian, Environment, KNTK, Term loan, Marketing, Adjustment, British thermal unit, Credit, Growth, Cryptocurrency

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

Key Points:

Kinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today reported financial results for the quarter ended March 31, 2024.
For the three months ended March 31, 2024, Kinetik processed natural gas volumes of 1.53 Bcf/d and reported net income of $35.4 million.
“Kinetik has had a strong start to 2024,” said Jamie Welch, Kinetik’s President & Chief Executive Officer.
“In particular, our first quarter results exceeded our internal forecast used to set our full year guidance in February.

Kinetik Announces First Quarter Dividend and Financial Results Timing

Retrieved on:

Thursday, April 18, 2024

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

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.

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 first quarter ended March 31, 2024.
Kinetik will host its first quarter 2024 results conference call on Thursday, May 9, 2024 at 8:00 am Central Daylight Time (9:00 am Eastern Daylight Time) to discuss first 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.

Infinium and Kinetik Reach Innovative CO2 Utilization Agreement to Advance eFuels Production

Retrieved on:

Tuesday, April 16, 2024

Permian, American Airlines, Nature, Structural adjustment, Partnership, Transport, Carbon, KNTK, CO2, Roadrunner, Aviation, Renewable energy

SACRAMENTO, Calif., April 16, 2024 /PRNewswire/ -- eFuels leader, Infinium, has reached an agreement with a subsidiary of midstream energy company Kinetik Holdings Inc. (NYSE: KNTK) ("Kinetik") to purchase carbon dioxide ("CO2") captured from Kinetik's gas gathering and processing system in the Permian Basin for use as a feedstock in the production of ultra-low carbon electrofuels ("eFuels"). Infinium eFuels are created through a proprietary process using waste CO2 and green hydrogen derived from renewable power.

Key Points:

Infinium eFuels are created through a proprietary process using waste CO2 and green hydrogen derived from renewable power.
The agreement is unique in its long-term nature and broad decarbonization benefits, providing measurable impacts for transportation alternatives.
"There are many roles to be played in the energy transition, and this partnership shows that eFuels production and utilization is truly a win-win for all in the energy industry," said Infinium CEO Robert Schuetzle.
"It's great to welcome Kinetik into our community of companies seeking beneficial reuse solutions for its CO2.

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.