Kinetik Holdings Inc

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

•EBITDA. Earnings before interest, taxes, depreciation, and amortization

•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 other facility during a particular period

•SEC. United States Securities and Exchange Commission

•SOFR. Secured Overnight Financing Rate

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