Kinetik Holdings (KNTK) to Acquire Durango
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The Next Chapter: $1 Billion of Strategic, Accretive Northern Delaware Transactions and Divestiture of its 16% Interest in the Gulf Coast Express Pipeline
May 9, 2024 4:08 PM EDTIn a series of transactions:
Kinetik agreed to acquire Durango Permian LLC (Durango), which expands its operations in Eddy and Lea Counties, New Mexico, the most active counties in the Permian Basin (Durango Acquisition). The Durango Acquisition increases Kinetiks processing capacity by 420 million cubic feet per day, doubles gathering pipeline mileage, and adds over 60 new customers, many of whom are private, including one of the most active producers in the Delaware Basin. Kinetik executed a new 15-year low-pressure and high-pressure gas gathering and processing agreement with one of its largest customers, which has... More