What Happened to Kinetik Holdings?
Ticker: KNTKSPAC Year: 2017Merger: 2022
Return
+358.1%
Current Price
$45.81
Peak Price
$104.8
Trust Size
$7.1B
Summary
Kinetik Holdings is the largest publicly traded, fully integrated midstream company in the Delaware Basin, providing natural gas gathering, compression, processing, and transportation services.
What Happened
Kinetik was formed through the February 2022 merger of Altus Midstream (originally a SPAC called Kayne Anderson Acquisition Corp) and EagleClaw Midstream in an all-stock combination. The resulting company became the dominant midstream operator in the Permian Basin's Delaware sub-basin. Kinetik has performed well as a public company, benefiting from strong Permian Basin production growth and paying substantial dividends.
Timeline
2017-03-27
S-1 Registration Filed
2022-01-12
Merger Proxy Filed (DEFM14A)