Press release
Kinetik Reports First Quarter 2025 Financial and Operating Results
Generated first quarter net income of $19.3 million and Adjusted EBITDA1 of $250.0 million Achieved quarterly gas processed volumes of 1.80 Bcf/d, up 17%
About this update from Apa Corporation
[{"type":"text","content":"\n\nGenerated first quarter net income of $19.3 million and Adjusted EBITDA1 of $250.0 million\n\n\nAchieved quarterly gas processed volumes of 1.80 Bcf/d, up 17% year-over-year\n\n\nProgressed construction on the 220 Mmcf/d Kings Landing Complex (“Kings Landing”) in New Mexico with commissioning expected to start in six weeks and commencing operations in early third quarter of 2025\n\n\nAffirming 2025 Adjusted EBITDA1 Guidance range of $1.09 billion to $1.15 billion and Capital Guidance range of $450 million to $540 million\n\n\nKinetik’s Board of Directors authorized an increase to its existing share repurchase program to $500 million\n\n\n HOUSTON & MIDLAND, Texas--(BUSINESS WIRE)--\nKinetik Holdings Inc. (NYSE: KNTK) (“Kinetik” or the “Company”) today reported financial results for the quarter ended March 31, 2025.\n\nFirst Quarter 2025 Results and Commentary\n\nFor the three months ended March 31, 2025, Kinetik reported net income including noncontrolling interest of $19.3 million.\n\nKinetik generated Adjusted EBITDA1 of $250.0 million, Distributable Cash Flow1 of $157.0 million, and Free Cash Flow1 of $120.4 million for the three months ended March 31, 2025, respectively. For the three months ended March 31, 2025, Kinetik processed natural gas volumes of 1.80 Bcf/d.\n\n“The start to 2025 has been marked with early successes, macroeconomic uncertainty, and the prospect of exciting potential opportunities,” said Jamie Welch, Kinetik’s President & Chief Executive Officer. “Despite winter weather and the recent, elevated volatility, Kinetik is pleased to report another solid quarter that slightly exceeded our internal estimates. Adjusted EBITDA1 of $250 million represents a 7% increase year-over-year driven by growth in processed gas volumes and margin expansion in the Midstream Logistics segment. Processed gas volumes were up sequentially, largely driven by the return to production at Alpine High.”\n\n“Today, we are facing significant macroeconomic uncertainty, potentially increasing input costs related to tariffs and decreasing energy commodity prices. However, Kinetik is well positioned to navigate this uncertainty and is poised to capitalize in an opportunity-rich Permian Basin.”\n\n“First, our Operations team did a great job proactively procuring large purchase orders of steel pipe in advance of expected higher prices an...