---
schema_version: "secwatch.filing_event.v1"
accession: "0001692787-24-000036"
form_type: "8-K"
ticker: "KNTK"
cik: "0001692787"
company_name: "Kinetik Holdings Inc."
filed_at: "2024-06-07T23:59:59+00:00"
generated_at: "2026-06-01T05:37:14.536478+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001692787-24-000036
- form_type: 8-K
- ticker: KNTK
- cik: 0001692787
- company_name: Kinetik Holdings Inc.
- filed_at: 2024-06-07T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.01, 9.01, 7.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1692787/000169278724000036/0001692787-24-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1692787/000169278724000036/apa-20240604.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001692787-24-000036
- JSON: https://secwatch.observer/filing/0001692787-24-000036.json
- Plain text: https://secwatch.observer/filing/0001692787-24-000036.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.