secwatch.observer — SEC 8-K summary
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Issuer:     Kinetik Holdings Inc. (KNTK)
CIK:        0001692787
Form:       8-K
Filed at:   2023-02-28T23:59:59+00:00
Accession:  0001692787-23-000004
Event type: earnings
Sentiment:  neutral
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kinetik reports Q4 2022 net income $48.5M, FY2022 Pro Forma Adj EBITDA $822.2M; issues 2023 guidance $800M-$860M
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- Q4 2022 net income $48.5M; FY2022 net income $250.7M, Pro Forma Adj EBITDA $822.2M, CapEx $284.0M.
- 2023 guidance: Adj EBITDA $800M-$860M, CapEx $490M-$540M; expects to exit 2023 at ~1.5 Bcf/d processed gas (+20% vs Q4 2022).
- Expanding into Lea County, NM with new long-term gathering/processing agreement with large cap investment grade counterparty (MVC-backed); in-service Q1 2024.
- Core Shareholders to reinvest 100% of 2023 dividends under DRIP; Board authorized $100M share repurchase program.
- Targeting $50M in 2023 synergies (vs >$30M in 2022); Diamond Cryo expansion (120 MMcf/d) on track for April 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692787/000169278723000004/0001692787-23-000004-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692787/000169278723000004/apa-20230227.htm
  HTML page:      https://secwatch.observer/filing/0001692787-23-000004

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