Kinetik sells 16% GCX stake for $540M; funds Durango Permian acquisition and NM expansion

Kinetik Holdings Inc.

Total consideration $540M: $510M cash upfront (net proceeds $494.4M) + $30M earnout on capacity expansion FID.
Cash used to fund previously announced acquisition of Durango Permian LLC and capital for 15-year gas gathering agreement in Eddy County, NM.
Pro forma eliminates equity income from GCX: $9.0M for Q1 2024 and $37.5M for FY2023.
Pro forma net income to Class A shareholders: $5.6M (Q1 2024) vs historical $11.6M; $288.9M (FY2023) vs $289.4M.
Deal closed June 4, 2024 with GCX Pipeline, LLC, an affiliate of ArcLight Capital Partners.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.