Kinetik Holdings Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Kinetik Holdings Inc. has submitted its 2023 annual report (10-K) detailing its financial performance and operations.</b>

AI Summary

Kinetik Holdings Inc. (KNTK) filed a Annual Report (10-K) with the SEC on March 5, 2024. Kinetik Holdings Inc. filed its annual report on Form 10-K for the fiscal year ended December 31, 2023. The filing covers the period from January 1, 2023, to December 31, 2023. The company's principal business is Natural Gas Transmission, with SIC code 4922. Kinetik Holdings Inc. is incorporated in Delaware. The company's business address is 2700 Post Oak Blvd., Suite 300, Houston, TX 77056.

Why It Matters

For investors and stakeholders tracking Kinetik Holdings Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Kinetik Holdings Inc.'s financial health, operational activities, and strategic positioning for the fiscal year 2023. Investors and analysts can use this report to assess the company's performance, identify potential risks, and make informed investment decisions regarding Kinetik Holdings Inc.

Risk Assessment

Risk Level: low — Kinetik Holdings Inc. shows low risk based on this filing. The filing is a standard annual report (10-K) and does not contain immediate, significant negative news or events that would elevate the risk level.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand Kinetik Holdings Inc.'s performance and outlook for 2024.

Key Numbers

• 2023-12-31 — Fiscal Year End (The report is for the fiscal year ended on this date.)
• 2024-03-05 — Filing Date (The date the 10-K was filed with the SEC.)
• 154 — Public Document Count (Number of documents included in the filing.)

Key Players & Entities

• Kinetik Holdings Inc. (company) — Filer name and subject of the report.
• 2023 (date) — Fiscal year covered by the report.
• December 31, 2023 (date) — End date of the fiscal year.
• 2700 Post Oak Blvd., Suite 300, Houston, TX 77056 (address) — Company's business and mailing address.
• 4922 (sic_code) — Standard Industrial Classification for Natural Gas Transmission.
• DE (state) — State of incorporation.

FAQ

Industry Context

Kinetik Holdings Inc. operates in the Natural Gas Transmission industry, a critical sector for energy infrastructure.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring public companies to disclose material information.

What Investors Should Do

1. Analyze the financial statements for revenue, net income, and debt levels.
2. Review the Management's Discussion and Analysis (MD&A) section for operational insights.
3. Examine the Risk Factors section for potential challenges and uncertainties.

Key Dates

• 2023-12-31: Fiscal Year End — Marks the end of the reporting period for the 10-K.
• 2024-03-05: Filing Date — The date Kinetik Holdings Inc. submitted its 10-K to the SEC.

Year-Over-Year Comparison

This is the initial 10-K filing for the fiscal year 2023, following previous filings.

Key Financial Figures

• $0.0001 — which registered Class A common stock, $0.0001 par value KNTK New York Stock Exchange

Filing Documents

• apa-20231231.htm (10-K) — 2510KB
• kntk-202310xkxdescriptiono.htm (EX-4.1) — 24KB
• kinetik-2019omnibuscompens.htm (EX-10.14) — 75KB
• kinetik-2019omnibuscompensb.htm (EX-10.15) — 86KB
• kinetik-2019omnibuscompensa.htm (EX-10.16) — 77KB
• kntk-2019omnibuscompensatia.htm (EX-10.17) — 57KB
• kntk-2019omnibuscompensati.htm (EX-10.18) — 48KB
• kntkexhibit211202310-k.htm (EX-21.1) — 25KB
• kntkexhibit231202310-k.htm (EX-23.1) — 2KB
• kntkexhibit232202310-k.htm (EX-23.2) — 2KB
• kntkexhibit233202310-k.htm (EX-23.3) — 2KB
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SIGNATURES

SIGNATURES 53 i GLOSSARY The following are abbreviations and definitions of certain terms used in this Annual Report on Form 10-K ("Annual Report") and certain terms which are commonly used in the exploration, production, and midstream sectors of the oil and natural gas industry: ASC . Accounting Standards Codification ASU . Accounting Standards Update Bbl. One stock tank barrel of 42 United States ("U.S.") gallons liquid volume used herein in reference to crude oil, condensate or natural gas liquids Bcf. One billion cubic feet Bcf/d. One Bcf per day Btu. One British thermal unit, which is the quantity of heat required to raise the temperature of a one-pound mass of water by one degree Fahrenheit CODM . Chief Operating Decision Maker Delaware Basin . Located on the western section of the Permian Basin. The Delaware Basin covers a 6.4M acre area FASB. Financial Accounting Standards Board Field. An area consisting of a single reservoir or multiple reservoirs, all grouped on, or related to, the same individual geological structural feature or stratigraphic condition. The field name refers to the surface area, although it may refer to both the surface and the underground productive formations Formation. A layer of rock which has distinct characteristics that differs from nearby rock GAAP . United States Generally Accepted Accounting Principles GHG. Greenhouse gas MBbl. One thousand barrels of crude oil, condensate or NGLs MBbl/d. One MBbl per day Mcf. One thousand cubic feet of natural gas Mcf/d. One Mcf per day MMBtu. One million British thermal units MMcf. One million cubic feet of natural gas MMcf/d. One MMcf per day MVC . Minimum volume commitments NGL or NGLs. Natural gas liquids. Hydrocarbons found in natural gas, which may be extracted as liquefied petroleum gas and natural gasoline Throughput. The volume of crude oil, natural gas, NGLs, water and refined petroleum products transported or passing through a pipeline, plant, terminal or

FORWARD-LOOKING STATEMENTS AND RISK

FORWARD-LOOKING STATEMENTS AND RISK This Annual Report on Form 10-K includes "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended (the "Securities Act"), and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). All statements other than statements of historical facts included or incorporated by reference in this Annual Report, including, without limitation, statements regarding our future financial position, business strategy, budgets, projected revenues, projected costs and plans, and objectives of management for future operations, are forward-looking statements. In addition, forward-looking statements generally can be identified by the use of forward-looking terminology such as "may," "will," "could," "expect," "intend," "project," "estimate," "anticipate," "plan," "believe," "continue," "seek," "guidance," "might," "outlook," "possibly," "potential," "prospect," "should," "would," or similar terminology, but the absence of these words does not mean that a statement is not forward looking. Although we believe that the expectations reflected in such forward-looking statements are reasonable under the circumstances, we can give no assurance that such expectations will prove to have been correct. Important factors that could cause actual results to differ materially from our expectations include, but are not limited to, assumptions about: the market prices of oil, natural gas, NGLs, and other products or services; competition from other pipelines, terminals or other forms of transportation and competition from other service providers for gathering system capacity and availability; production rates, throughput volumes, reserve levels, and development success of dedicated oil and gas fields; our future financial condition, results of operations, liquidity, compliance with debt covenants and competitive position; our future revenues, cash flows and expenses; our access to capital

View Full Filing

View this 10-K filing on SEC EDGAR