# Kinetik Holdings Inc.

Summary updated: 2026-10-02T15:52:20.752489Z
Canonical: https://finbar.com/research/companies/kinetik-holdings-inc

## Overview

Kinetik Holdings Inc. is an integrated midstream energy company focused on the Permian Basin. It provides infrastructure and services for gathering, processing, treating, transporting and storing natural gas, natural gas liquids and crude oil, as well as gathering and disposing of produced water. Its two core segments are Midstream Logistics and Pipeline Transportation. [1](https://app.finbar.com/go?id=P74578028) [2](https://app.finbar.com/go?id=P24687601)

Kinetik’s operations are concentrated in the Delaware Basin across Texas and New Mexico, with pipeline connections serving U.S. Gulf Coast and Mexican markets. [3](https://app.finbar.com/go?id=P43144555) [4](https://www.kinetik.com/operations/) The company reported $1.764 billion in total operating revenues for FY2025. [5](https://app.finbar.com/go?id=T4504733) Its stated operating ethos emphasizes safe and reliable operations; the reviewed sources do not identify a formal mission statement. [6](https://www.kinetik.com/about-us/)
[1](https://app.finbar.com/go?id=P74578028)[2](https://app.finbar.com/go?id=P24687601)[3](https://app.finbar.com/go?id=P43144555)[5](https://app.finbar.com/go?id=T4504733)[4](https://www.kinetik.com/operations/)[6](https://www.kinetik.com/about-us/)

## Products & services

Kinetik provides natural-gas gathering, compression, processing and treating services. Its system includes more than 4,200 miles of pipeline, over 825,000 horsepower of compression, and eight processing complexes with more than 2.4 Bcf/d of cryogenic capacity; it also provides system-wide amine treating and 6.5 MMcf/d of acid-gas injection capacity. [7](https://app.finbar.com/go?id=P150320401) Its produced-water services include about 370 miles of gathering pipeline and 610,000 barrels per day of permitted disposal capacity. [8](https://app.finbar.com/go?id=P150320403) Crude-oil services include gathering, stabilization and storage, supported by about 290 miles of pipeline and 90,000 barrels of storage. [9](https://app.finbar.com/go?id=P150320402)

Kinetik’s NGL transportation system includes the 20-inch Dewpoint pipeline, over 40 miles long, and the 28-mile, 20-inch Brandywine pipeline; the system has approximately 580 MBbl/d of capacity. [10](https://app.finbar.com/go?id=P150320406) Its Pipeline Transportation business also includes EMI pipelines and Delaware Link, which transport natural gas and NGLs within the Permian and toward Gulf Coast markets. [11](https://app.finbar.com/go?id=P150320399) Kings Landing II is a planned 300 MMcf/d gas-processing plant; Kinetik said the project is expected to raise system processing capacity above 2.7 Bcf/d when completed, which it expected in 2028. [12](https://ir.kinetik.com/news/news-details/2026/Kinetik-Reaches-Final-Investment-Decision-on-the-300-Mmcfd-Kings-Landing-II-Project/default.aspx)

For the six months ended June 30, 2026, Kinetik reported $803.033 million in product revenue and $180.663 million in service revenue—approximately 81.6% and 18.4%, respectively, of their combined total. Product sales include NGLs, condensate and natural-gas residue. [13](https://app.finbar.com/go?id=P150320451)[14](https://app.finbar.com/go?id=T17206970)
[7](https://app.finbar.com/go?id=P150320401)[8](https://app.finbar.com/go?id=P150320403)[9](https://app.finbar.com/go?id=P150320402)[10](https://app.finbar.com/go?id=P150320406)[11](https://app.finbar.com/go?id=P150320399)[12](https://ir.kinetik.com/news/news-details/2026/Kinetik-Reaches-Final-Investment-Decision-on-the-300-Mmcfd-Kings-Landing-II-Project/default.aspx)[13](https://app.finbar.com/go?id=P150320451)[14](https://app.finbar.com/go?id=T17206970)[14](https://app.finbar.com/go?id=T17206970)[12](https://ir.kinetik.com/news/news-details/2026/Kinetik-Reaches-Final-Investment-Decision-on-the-300-Mmcfd-Kings-Landing-II-Project/default.aspx)

## Geographic presence

Kinetik Holdings Inc.’s operations are concentrated in the Permian Basin, particularly the Delaware Basin, with most of its wholly owned midstream assets located there. Its cryogenic gas-processing capacity spans Texas and New Mexico; the company describes a footprint across eight counties, with eight operating plant sites and more than 4,600 miles of pipeline. [15](https://app.finbar.com/go?id=P22557520)[1](https://app.finbar.com/go?id=P74578028)[4](https://www.kinetik.com/operations/)

Specific assets extend across southeastern New Mexico and West Texas. For example, the ECCC Pipeline is planned to connect Eddy County, New Mexico, with Culberson County, Texas; the company’s crude operations also include terminals in Culberson and Reeves counties. [16](https://app.finbar.com/go?id=P150320408)[17](https://www.kinetik.com/operations/crude/)

Kinetik’s pipeline connections link Permian assets to Waha and provide routes toward the U.S. Gulf Coast and Mexico. The company’s materials describe its headquarters as being in Midland, Texas, with a significant presence in Houston; office addresses are listed for both cities. [18](https://app.finbar.com/go?id=P150320397)[11](https://app.finbar.com/go?id=P150320399)[10](https://app.finbar.com/go?id=P150320406)[19](https://ir.kinetik.com/why-invest/default.aspx)[20](https://www.kinetik.com/contact-us/)

The reviewed filings do not provide revenue percentages by country or region, nor a geographic breakdown of employees. [11](https://app.finbar.com/go?id=P150320399)[1](https://app.finbar.com/go?id=P74578028)
[15](https://app.finbar.com/go?id=P22557520)[1](https://app.finbar.com/go?id=P74578028)[16](https://app.finbar.com/go?id=P150320408)[18](https://app.finbar.com/go?id=P150320397)[11](https://app.finbar.com/go?id=P150320399)[10](https://app.finbar.com/go?id=P150320406)[4](https://www.kinetik.com/operations/)[17](https://www.kinetik.com/operations/crude/)[19](https://ir.kinetik.com/why-invest/default.aspx)[20](https://www.kinetik.com/contact-us/)

## Business segments

Kinetik reports two segments. **Midstream Logistics** covers natural-gas gathering and processing, crude-oil gathering, stabilization and storage, and produced-water gathering and disposal. Its gas system includes gathering pipelines, compression, processing, treating and acid-gas injection. **Pipeline Transportation** comprises two EMI pipelines and the Kinetik NGL and Delaware Link pipelines, which transport natural gas and natural gas liquids in the Permian and toward the U.S. Gulf Coast. [2](https://app.finbar.com/go?id=P24687601)[21](https://app.finbar.com/go?id=P1243137)

For FY2025, Midstream Logistics contributed approximately **99.5% of segment revenue** ($1,743.2 million) and **64.4% of consolidated Segment Adjusted EBITDA** ($635.8 million). Pipeline Transportation contributed approximately **0.5% of segment revenue** ($9.6 million) and **37.5% of consolidated Segment Adjusted EBITDA** ($370.1 million). Corporate and Other is shown as a separate reconciling category, rather than a reportable segment; it recorded no revenue and $(18.3) million of Segment Adjusted EBITDA. Percentages are approximate and may not sum to 100% due to rounding and the corporate adjustment. [22](https://app.finbar.com/go?id=T3761183)

The latest interim results, for the six months ended June 30, 2026, show a similar revenue mix: Midstream Logistics generated $979.3 million and Pipeline Transportation $4.4 million, out of $983.7 million consolidated revenue. Segment Adjusted EBITDA was $383.7 million for Midstream Logistics, $161.0 million for Pipeline Transportation and $(12.7) million for Corporate and Other. [23](https://app.finbar.com/go?id=T17206965) The FY2025 comparative disclosures retain the same two reportable segment names for FY2024 and FY2023. [2](https://app.finbar.com/go?id=P24687601)[22](https://app.finbar.com/go?id=T3761183)
[2](https://app.finbar.com/go?id=P24687601)[21](https://app.finbar.com/go?id=P1243137)[22](https://app.finbar.com/go?id=T3761183)[23](https://app.finbar.com/go?id=T17206965)[2](https://app.finbar.com/go?id=P24687601)[22](https://app.finbar.com/go?id=T3761183)

## Company history

Kinetik’s predecessor, EagleClaw Midstream Services, was formed in 2012 with a $100 million equity commitment. [24](https://ir.kinetik.com/news/news-details/2012/EagleClaw-Midstream-Services-LLC-Forms-With-100-Million-Equity-Commitment-From-EnCap-Flatrock-Midstream/default.aspx) In October 2021, Altus Midstream and BCP Raptor Holdco, the parent of EagleClaw, announced an all-stock business combination. The deal closed on February 22, 2022; Altus changed its name to Kinetik Holdings Inc., and its shares began trading under the KNTK ticker. [25](https://ir.kinetik.com/news/news-details/2021/Altus-and-EagleClaw-Announce-All-Stock-Business-Combination-Creates-a-Leading-Pure-Play-Permian-Integrated-Midstream-Company-With-a-Capital-Return-Focus/default.aspx)[26](https://app.finbar.com/go?id=P45852912)[27](https://ir.kinetik.com/news/news-details/2022/Altus-Midstream-is-now-Kinetik/1000/)

In 2024, Kinetik expanded its New Mexico operations: its Lea County gathering-system expansion entered service in January, and it completed the acquisition of Durango Midstream’s New Mexico gathering and processing system on June 24. [28](https://app.finbar.com/go?id=P100458060)[29](https://ir.kinetik.com/news/news-details/2024/Kinetik-Reports-Fourth-Quarter-and-Full-Year-2023-Financial-and-Operating-Results-and-Provides-2024-Guidance/default.aspx)[30](https://app.finbar.com/go?id=P86412847)[31](https://ir.kinetik.com/news/news-details/2024/Kinetik-Completes-Acquisition-of-Durango-Midstreams-New-Mexico-Gathering-and-Processing-System/default.aspx) In January 2025, it completed the acquisition of the Barilla Draw assets from Permian Resources, adding another bolt-on acquisition to its Permian-area operations. [32](https://app.finbar.com/go?id=P24634479)[33](https://www.sec.gov/Archives/edgar/data/1692787/000169278725000050/R10.htm)
[26](https://app.finbar.com/go?id=P45852912)[28](https://app.finbar.com/go?id=P100458060)[30](https://app.finbar.com/go?id=P86412847)[32](https://app.finbar.com/go?id=P24634479)[24](https://ir.kinetik.com/news/news-details/2012/EagleClaw-Midstream-Services-LLC-Forms-With-100-Million-Equity-Commitment-From-EnCap-Flatrock-Midstream/default.aspx)[25](https://ir.kinetik.com/news/news-details/2021/Altus-and-EagleClaw-Announce-All-Stock-Business-Combination-Creates-a-Leading-Pure-Play-Permian-Integrated-Midstream-Company-With-a-Capital-Return-Focus/default.aspx)[27](https://ir.kinetik.com/news/news-details/2022/Altus-Midstream-is-now-Kinetik/1000/)[29](https://ir.kinetik.com/news/news-details/2024/Kinetik-Reports-Fourth-Quarter-and-Full-Year-2023-Financial-and-Operating-Results-and-Provides-2024-Guidance/default.aspx)[31](https://ir.kinetik.com/news/news-details/2024/Kinetik-Completes-Acquisition-of-Durango-Midstreams-New-Mexico-Gathering-and-Processing-System/default.aspx)[33](https://www.sec.gov/Archives/edgar/data/1692787/000169278725000050/R10.htm)

## Sources

1. [Kinetik Holdings Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P74578028)
2. [Kinetik Holdings Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P24687601)
3. [Kinetik Holdings Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P43144555)
4. [www.kinetik.com](https://www.kinetik.com/operations/)
5. [Kinetik Holdings Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T4504733)
6. [www.kinetik.com](https://www.kinetik.com/about-us/)
7. [Kinetik Holdings Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P150320401)
8. [Kinetik Holdings Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P150320403)
9. [Kinetik Holdings Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P150320402)
10. [Kinetik Holdings Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P150320406)
11. [Kinetik Holdings Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P150320399)
12. [ir.kinetik.com](https://ir.kinetik.com/news/news-details/2026/Kinetik-Reaches-Final-Investment-Decision-on-the-300-Mmcfd-Kings-Landing-II-Project/default.aspx)
13. [Kinetik Holdings Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P150320451)
14. [Kinetik Holdings Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T17206970)
15. [Kinetik Holdings Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P22557520)
16. [Kinetik Holdings Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P150320408)
17. [www.kinetik.com](https://www.kinetik.com/operations/crude/)
18. [Kinetik Holdings Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=P150320397)
19. [ir.kinetik.com](https://ir.kinetik.com/why-invest/default.aspx)
20. [www.kinetik.com](https://www.kinetik.com/contact-us/)
21. [Kinetik Holdings Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P1243137)
22. [Kinetik Holdings Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=T3761183)
23. [Kinetik Holdings Inc. — Full financial report (2026 Q 2)](https://app.finbar.com/go?id=T17206965)
24. [ir.kinetik.com](https://ir.kinetik.com/news/news-details/2012/EagleClaw-Midstream-Services-LLC-Forms-With-100-Million-Equity-Commitment-From-EnCap-Flatrock-Midstream/default.aspx)
25. [ir.kinetik.com](https://ir.kinetik.com/news/news-details/2021/Altus-and-EagleClaw-Announce-All-Stock-Business-Combination-Creates-a-Leading-Pure-Play-Permian-Integrated-Midstream-Company-With-a-Capital-Return-Focus/default.aspx)
26. [Kinetik Holdings Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P45852912)
27. [ir.kinetik.com](https://ir.kinetik.com/news/news-details/2022/Altus-Midstream-is-now-Kinetik/1000/)
28. [Kinetik Holdings Inc. — Press release (2023 Y)](https://app.finbar.com/go?id=P100458060)
29. [ir.kinetik.com](https://ir.kinetik.com/news/news-details/2024/Kinetik-Reports-Fourth-Quarter-and-Full-Year-2023-Financial-and-Operating-Results-and-Provides-2024-Guidance/default.aspx)
30. [Kinetik Holdings Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P86412847)
31. [ir.kinetik.com](https://ir.kinetik.com/news/news-details/2024/Kinetik-Completes-Acquisition-of-Durango-Midstreams-New-Mexico-Gathering-and-Processing-System/default.aspx)
32. [Kinetik Holdings Inc. — Full financial report (2025 Y)](https://app.finbar.com/go?id=P24634479)
33. [www.sec.gov](https://www.sec.gov/Archives/edgar/data/1692787/000169278725000050/R10.htm)

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