KNTK

APA Corporation Closes Two Transactions; Receives $1 Billion of Proceeds

Retrieved on: 
Monday, March 14, 2022
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HOUSTON, March 14, 2022 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today announced the closing of two transactions, generating net proceeds of approximately $1 billion.

Key Points: 
  • HOUSTON, March 14, 2022 (GLOBE NEWSWIRE) -- APA Corporation (Nasdaq: APA) today announced the closing of two transactions, generating net proceeds of approximately $1 billion.
  • In a second transaction, on March 11, a subsidiary of APA completed the sale of 4 million shares of Kinetik (NASDAQ: KNTK) Class A common stock for net proceeds of $224 million.
  • The transaction follows the combination of Altus Midstream and BCP Raptor Holdco LP that formed Kinetik and was completed in late February.
  • As such, we plan to direct a portion of these sales proceeds toward debt reduction, said John J. Christmann IV, CEO and president of APA Corporation.

Kinetik Announces Closing of Upsized Secondary Offering of Common Stock

Retrieved on: 
Friday, March 11, 2022
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Kinetik did not sell any shares of Class A common stock in the Offering and did not receive any proceeds from the sale of shares by the Selling Stockholder.

Key Points: 
  • Kinetik did not sell any shares of Class A common stock in the Offering and did not receive any proceeds from the sale of shares by the Selling Stockholder.
  • BofA Securities, J.P. Morgan and Morgan Stanley acted as joint lead book-running managers for the Offering.
  • Capital One Securities, MUFG and Scotiabank acted as co-managers for the Offering.
  • See Risk Factors in the prospectus supplement relating to the Offering for a discussion of risk factors related to Kinetik.

Kinetik Announces Pricing of Upsized Secondary Offering of Common Stock

Retrieved on: 
Wednesday, March 9, 2022
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MIDLAND, Texas and HOUSTON, March 09, 2022 (GLOBE NEWSWIRE) -- Kinetik Holdings Inc. (NASDAQ: KNTK) (Kinetik or the Company) announced today the pricing of an upsized underwritten secondary offering of 3,478,261 shares of its Class A common stock (the Offering) by Apache Midstream LLC (the Selling Stockholder), a subsidiary of Apache Corporation, at a price of $58.00 per share.

Key Points: 
  • MIDLAND, Texas and HOUSTON, March 09, 2022 (GLOBE NEWSWIRE) -- Kinetik Holdings Inc. (NASDAQ: KNTK) (Kinetik or the Company) announced today the pricing of an upsized underwritten secondary offering of 3,478,261 shares of its Class A common stock (the Offering) by Apache Midstream LLC (the Selling Stockholder), a subsidiary of Apache Corporation, at a price of $58.00 per share.
  • Kinetik is not selling any shares of Class A common stock in the Offering and will not receive the proceeds from any sale of shares by the Selling Stockholder.
  • The Selling Stockholder has granted to the underwriters a 30-day option to purchase up to an additional 521,739 shares of Kinetiks Class A common stock.
  • See Risk Factors in the prospectus supplement relating to the Offering for a discussion of risk factors related to Kinetik.

Kinetik Announces Secondary Offering of Common Stock

Retrieved on: 
Tuesday, March 8, 2022
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MIDLAND, Texas and HOUSTON, March 08, 2022 (GLOBE NEWSWIRE) -- Kinetik Holdings Inc. (NASDAQ: KNTK) (Kinetik or the Company) announced today the commencement of an underwritten secondary offering of 2,500,000 shares of its Class A common stock (the Offering) by Apache Midstream LLC (the Selling Stockholder), a subsidiary of Apache Corporation.

Key Points: 
  • MIDLAND, Texas and HOUSTON, March 08, 2022 (GLOBE NEWSWIRE) -- Kinetik Holdings Inc. (NASDAQ: KNTK) (Kinetik or the Company) announced today the commencement of an underwritten secondary offering of 2,500,000 shares of its Class A common stock (the Offering) by Apache Midstream LLC (the Selling Stockholder), a subsidiary of Apache Corporation.
  • Kinetik is not selling any shares of Class A common stock in the Offering and will not receive the proceeds from any sale of shares by the Selling Stockholder.
  • In connection with the Offering, the Selling Stockholder intends to grant to the underwriters a 30-day option to purchase up to an additional 375,000 shares of Kinetiks Class A common stock.
  • The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed.

Kinetik Issues 2022 Guidance and Announces Capital Allocation Update

Retrieved on: 
Wednesday, February 23, 2022
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Key elements for our 2022 Guidance include:

Key Points: 
  • Key elements for our 2022 Guidance include:
    Kinetik has decided to pull forward integration capital spend into 2022.
  • The Company estimates 2022 capital expenditures to be between $125 million and $150 million, which includes $55 million of one-time integration capital (almost 60% of total expected integration capital), maintenance capital and important non-recurring ESG and operational related capital expenditures.
  • Following discussions with investors, credit ratings agencies and its Core Shareholders, Kinetik is modifying its 2022 capital allocation targets.
  • Kinetik plans to participate at the following upcoming conferences:
    Kinetik will host an Investor Update and 2022 Guidance conference call on Thursday, February 24, 2022 at 8:00 am Central Standard Time (9:00 am Eastern Standard Time) to discuss the 2022 Guidance.