Midland-based Kinetik Holdings Inc. has reported a third-quarter net income of $15.5 million, with adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) amounting to $242.6 million. This performance underscores the company’s steady operational and financial stability through September 30.
According to a news release from Kinetik Holdings, for the first nine months of the year, the company recorded $109.2 million in net income and $735.6 million in adjusted EBITDA. This reflects continued growth in its Delaware Basin operations. During this period, Kinetik completed the sale of its 27.5% non-operated equity stake in EPIC Crude Holdings LP, achieved full commercial service at its Kings Landing Complex, and announced a final investment decision on a new acid gas injection project at the same facility. The company also refined its 2025 adjusted EBITDA guidance to a range of $965 million to $1.005 billion and its capital guidance to between $485 million and $515 million.
Kinetik further expanded its infrastructure footprint by finalizing a pipeline connection for Competitive Power Ventures’ new 1,350 megawatt gas-fired power plant and securing a liquefied natural gas (LNG) pricing agreement with INEOS Energy for 0.5 million tonnes per annum at Port Arthur LNG. Additionally, the company increased natural gas transport capacity to the U.S. Gulf Coast to meet rising customer demand.
President and CEO Jamie Welch said that completing Kings Landing marks “a significant milestone” that restores curtailed volumes and supports new customer development in New Mexico. Despite lower rig activity and temporary production slowdowns in the Delaware Basin, Welch emphasized Kinetik’s strong positioning, long-term investments, and ongoing ability to generate sustainable returns amid shifting market conditions.