secwatch.observer — SEC 8-K summary
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Issuer:     Kinetik Holdings Inc. (KNTK)
CIK:        0001692787
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001692787-23-000011
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Kinetik Q1 net income $4.3M, adjusted EBITDA $187.5M; April gas volumes record 1.52 Bcf/d
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- Net income $4.3M; Adjusted EBITDA $187.5M; DCF $126.7M; FCF $25.8M.
- April processed gas volumes averaged 1.52 Bcf/d, a record, up ~21% versus Q4 2022.
- Acquired midstream assets in Reeves County, TX for $65M; also paid $60M incentive to accelerate drilling.
- 2023 Adjusted EBITDA guidance tracking to high end of $800M-$860M; capex trending to upper end.
- Reduced unhedged commodity exposure to 6% of gross profit; fixed SOFR on $2.25B debt through May 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1692787/000169278723000011/0001692787-23-000011-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1692787/000169278723000011/apa-20230503.htm
  HTML page:      https://secwatch.observer/filing/0001692787-23-000011

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer