Description

Kinetik’s $560 Million Expansion Push Targets A Bigger Permian Opportunity!

Kinetik reported record second quarter results for 2026, driven by strong operational execution, system performance, and favorable commodity prices. Adjusted EBITDA reached $281 million, marking a significant year-over-year increase, supported by flat processed natural gas volumes at 1.74 billion cubic feet per day despite an estimated 250 million cubic feet per day of curtailments related to Waha pricing. Distributable cash flow stood at $195 million and free cash flow at $105 million, reflecting strong cash generation. The company raised its full-year adjusted EBITDA guidance by approximately 7% at the midpoint to a range of $1.04 billion to $1.1 billion, reflecting better-than-expected volume growth, improved commodity prices, operational outperformance, and stronger pipeline transportation results. Notably, volume growth expectations improved from low- to mid-single digits to mid- to high-single digits year-over-year, supported by normalization of Waha pricing and accelerated customer activity.