Kinetik Holdings Inc
For the period ended Dec 31, 2024. Filed Mar 3, 2025.
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FY2024 · Filed Mar 3, 2025
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20. Subsequent Events
- SUBSEQUENT EVENTS
On January 14, 2025, the Company consummated the previously announced transaction contemplated by the definitive agreement with Permian Resources Corporation (“Permian Resources”) to acquire certain natural gas and crude oil gathering systems assets, primarily located in Reeves County, Texas, for approximately $178.4 million of cash consideration (“Permian Resources Midstream Acquisition”). We are currently evaluating the Permian Resources Midstream Acquisition and have not completed the purchase accounting.
On January 22, 2025, the Board declared a cash dividend of $0.78 per share on the Company’s Class A Common Stock which was paid to stockholders of record as of February 3, 2025, on February 12, 2025. The Company, through its ownership of the general partner of the Partnership, declared a distribution of $0.78 per Common Unit from the Partnership to the holders of Common Units, which was paid on February 12, 2025.
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