Kinetik Holdings (KNTK) has entered into a definitive agreement with Permian Resources (PR) whereby Kinetik will acquire Permian Resources’ natural gas and crude oil gathering systems primarily located in Reeves County, Texas for $180M of cash consideration. The Transaction provides a multi-stream opportunity for natural gas gathering, compression and processing, as well as crude gathering services for Kinetik. Highlights of the acquisition include: approximately 60,000 gross operated acres dedicated by Permian Resources under long-term, fixed-fee agreements for natural gas gathering, compression and processing and crude oil gathering services, more than 250 Mmcf/d of primarily owned electric compression, more than 150 Mmcf/d of gas gathered volumes and 25 Mb/d of crude gathered volumes in 2025. The transaction is expected to close in Q1 2025 following satisfaction of customary closing conditions.
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