Kinetik Announces Secondary Offering of Common Stock

MIDLAND, Texas and HOUSTON, March 08, 2022 (GLOBE NEWSWIRE) -- Kinetik Holdings Inc. (NASDAQ:KNTK) (“Kinetik” or the “Company”) announced today the commencement of an underwritten secondary offering of 2,500,000 shares of its Class A common stock (the “Offering”) by Apache Midstream LLC (the “Selling Stockholder”), a subsidiary of Apache Corporation. Kinetik is not selling any shares of Class A common stock in the Offering and will not receive the proceeds from any sale of shares by the Selling Stockholder. In connection with the Offering, the Selling Stockholder intends to grant to the underwriters a 30-day option to purchase up to an additional 375,000 shares of Kinetik’s Class A common stock. The Offering is subject to market and other conditions, and there can be no assurance as to whether or when the Offering may be completed.