Updated Aug 22, 2024
8/22/24
Permian Basin pure-play Kinetik Holdings Inc. revised its 2024 guidance after seizing opportunities in New Mexico and the Delaware sub-basin in the second quarter, and increasing processing volumes despite challenges from anemic natural gas prices at the Waha hub.
Kinetik Holdings Inc. entered agreements for around $1 billion to expand its New Mexico operations and footprint in Permian’s Delaware sub-basin.
Permian Basin pure-play Kinetik Holdings Inc., whose midstream operations transport natural gas to Gulf Coast markets and beyond, set a processing record in the second quarter, even as high temperatures stalled some exploration and production (E&P) customer operations.