Kinetik Holdings Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
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PROPERTY, PLANT AND EQUIPMENT, NET
- PROPERTY, PLANT AND EQUIPMENT, NET
Property, plant and equipment, at carrying value, is as follows:
| September 30, | December 31, | |
|---|---|---|
| 2025 | 2024 | |
| (In thousands) | ||
| Gathering, processing, and transmission systems and facilities | $4,549,093 | $3,977,825 |
| Vehicles | 19,725 | 15,659 |
| Computers and equipment | 11,680 | 7,872 |
| Less: accumulated depreciation | (985,347) | (813,371) |
| Total depreciable assets, net | 3,595,151 | 3,187,985 |
| Construction in progress | 181,269 | 215,168 |
| Land | 31,945 | 30,711 |
| Total property, plant, and equipment, net | $3,808,365 | $3,433,864 |
The cost of property classified as “Construction in progress” is excluded from capitalized costs being depreciated. These amounts represent property that is not yet available to be placed into productive service as of the respective reporting date. The Company recorded $58.4 million and $48.7 million of depreciation expense for the three months ended September 30, 2025 and 2024, respectively, and $177.5 million and $135.3 million for the nine months ended September 30, 2025 and 2024, respectively. There wereno impairment triggering events for property, plant and equipment during the three and nine months ended September 30, 2025 and 2024.
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