Kinetik Enters Into Series Of Agreements Under Which It Will Acquire Durango For An Aggregate $765M Of Cash And Equity With Up To $75M Of Contingent Consideration Tied To The Capital Cost For The Kings Landing Complex; Provide Natural Gas Gathering...
Kinetik Enters Into Series Of Agreements Under Which It Will Acquire Durango For An Aggregate $765M Of Cash And Equity With Up To $75M Of Contingent Consideration Tied To The Capital Cost For The Kings Landing Complex; Provide Natural Gas Gathering...
Kinetik Enters Into Series Of Agreements Under Which It Will Acquire Durango For An Aggregate $765M Of Cash And Equity With Up To $75M Of Contingent Consideration Tied To The Capital Cost For The Kings Landing Complex; Provide Natural Gas Gathering And Processing Services Under A Newly Executed, 15-Year Agreement With Existing Customer In Eddy County, New Mexico, An ~$200M Capital Investment Through 2026; Divest Its 16% Equity Interest In GCX For 100% Cash For A Total Of $540M
Kinetik簽訂了一系列協議，根據該協議，它將以總計7.65億美元的現金和股權收購杜蘭戈，其中高達7500萬美元的或有對價與國王登陸綜合體的資本成本掛鉤；根據與新墨西哥州埃迪縣現有客戶新簽訂的爲期15年的協議提供天然氣收集和加工服務，到2026年將投資約2億美元；以100％的價格剝離其在GCX的16％股權總計 5.4 億美元
In a series of transactions:
在一系列交易中：
- 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 Kinetik's 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 a substantial presence throughout Eddy County ("New Eddy County Agreement").
- These transactions significantly enhance Kinetik's position in New Mexico, providing new access to highly economic and active areas of the Delaware Basin, and reinforce Kinetik's value proposition as a pure-play midstream company across the entire Delaware Basin.
- As one funding source for the Durango Acquisition and capital for the New Eddy County Agreement, Kinetik has agreed to sell its 16% equity interest in Gulf Coast Express pipeline ("GCX") to an affiliate of ArcLight Capital Partners LLC ("GCX Sale") for $540 million, or approximately 10.4 times 2024 expected EBITDA.
- Consideration for the Durango Acquisition includes approximately $315 million of cash (excluding any contingent consideration) and 11.5 million Kinetik Class C common stock issued to the owner of Durango in two installments (3.8 million shares at closing and 7.7 million shares on July 1, 2025).
- On closing of these transactions, Kinetik's 3.5x leverage target is achieved.
- The transactions are expected to be over 10% accretive to free cash flow per share starting in the second half of 2025, with the level of accretion increasing thereafter, which coincides with an expected acceleration of capital returns to shareholders.
- Kinetik同意收購杜蘭戈二疊紀有限責任公司（“杜蘭戈”），該公司擴大了在二疊紀盆地最活躍的縣新墨西哥州埃迪縣和利縣的業務（“杜蘭戈收購”）。杜蘭戈的收購使Kinetik的處理能力每天增加了4.2億立方英尺，增加了60多名新客戶，其中許多是私人客戶，包括特拉華盆地最活躍的生產商之一。
- Kinetik與其最大的客戶之一簽署了一項新的爲期15年的低壓和高壓氣體收集和處理協議，該客戶在埃迪縣擁有大量業務（“新埃迪縣協議”）。
- 這些交易極大地提高了Kinetik在新墨西哥州的地位，爲進入特拉華盆地高度經濟和活躍地區提供了新的途徑，並強化了Kinetik作爲一家橫跨整個特拉華盆地的純中游公司的價值主張。
- 作爲杜蘭戈收購的資金來源和新埃迪縣協議的資本，Kinetik已同意以5.4億美元的價格將其在墨西哥灣沿岸快車管道（“GCX”）的16％股權出售給ArcLight Capital Partners LLC的子公司（“GCX出售”），約爲2024年預期息稅折舊攤銷前利潤的10.4倍。
- 收購杜蘭戈的對價包括約3.15億美元的現金（不包括任何或有對價）和分兩次向杜蘭戈所有者發行的1150萬股Kinetik C類普通股（收盤時爲380萬股，2025年7月1日爲770萬股）。
- 這些交易完成後，Kinetik的3.5倍槓桿率目標得以實現。
- 從2025年下半年開始，這些交易預計將使每股自由現金流增加10％以上，此後增幅將提高，這與股東資本回報的預期加速相吻合。
Kinetik Holdings Inc. (NYSE:KNTK) ("Kinetik" or the "Company") today announced it has entered into a series of agreements under which Kinetik will (i) acquire Durango for an aggregate $765 million of cash and equity with up to $75 million of contingent consideration tied to the capital cost for the Kings Landing complex ("Kings Landing"), which is currently under construction, (ii) provide low-pressure and high-pressure natural gas gathering and processing services under a newly executed, 15-year agreement with a large existing Kinetik customer in Eddy County, New Mexico, an approximately $200 million capital investment through 2026, and (iii) divest its 16% equity interest in GCX for 100% cash for a total of $540 million.
Kinetik Holdings Inc.（紐約證券交易所代碼：KNTK）（“Kinetik” 或 “公司”）今天宣佈，它已簽訂了一系列協議，根據該協議，Kinetik將（i）以總計7.65億美元的現金和股權收購杜蘭戈，其中最多7500萬美元的或有對價與目前在建的國王蘭丁綜合大樓（“Kings Landing”）的資本成本掛鉤，（ii）提供低壓和高壓根據與新南威爾士州埃迪縣一家大型Kinetik客戶簽訂的新簽訂的爲期15年的協議，提供天然氣收集和處理服務墨西哥，到2026年將進行約2億美元的資本投資，以及（iii）以100％的現金剝離其在GCX的16％股權，總額爲5.4億美元。
譯文內容由第三人軟體翻譯。