• A regional Kinder Morgan, focused on the Permian Basin.
• The Permian Basin's version of Enterprise Products Partners.

• Natural Gas Gathering & Processing: Services for collecting raw natural gas from production wells and processing it to pipeline-quality specifications, separating out valuable natural gas liquids (NGLs).
• Crude Oil Gathering: Transportation services for collecting crude oil from production sites and moving it to larger pipeline systems or storage facilities.
• Water Gathering & Disposal: Services for collecting and safely disposing of produced water, a byproduct of oil and gas operations.
• NGL Transportation: Services for transporting separated natural gas liquids (NGLs) from processing plants to market hubs.

• ExxonMobil Corporation (Symbol: XOM)
• Apache Corporation (Symbol: APA)
• Permian Resources Corporation (Symbol: PR)

Mr. Welch has served as the Chief Executive Officer, President, and a member of the Board of Directors of Kinetik since February 2022. Before this, he was President, CEO, and CFO of BCP Raptor Holdco GP, LLC, the general partner of BCP, a position he held from May 2021. He also served as President and CEO of EagleClaw Midstream Ventures LLC from 2019. Mr. Welch was the Group Chief Financial Officer and Head of Business Development for the Energy Transfer Equity, L.P. family from June 2013 to February 2016, and served on their Board of Directors. Prior to that, he was Head of the EMEA Investment Banking Department and Head of the Global Energy Group at Credit Suisse, having joined Credit Suisse First Boston in 1997 from Lehman Brothers Inc. where he was a Senior Vice President in the global utilities and project finance group. Mr. Welch has served as a Senior Advisor to Blackstone Energy Partners since July 2016, indicating a pattern of involvement with private equity-backed entities.

Mr. Howard was promoted to Senior Vice President and Chief Financial Officer of Kinetik in August 2023. He joined Kinetik in March 2020 as Vice President of Finance, overseeing corporate forecasting and the company's financing activities. Before joining Kinetik, Mr. Howard was an Investment Professional at Glenview Capital Management's long/short equities group and a Senior Associate at Blackstone's private equity group. In his role at Blackstone, he was responsible for the structuring, monitoring, and exiting of investments, demonstrating a pattern of managing companies backed by private equity firms and involvement in company sales. He began his career as an Analyst at Barclays in their Investment Banking Global Natural Resources group.

Mr. Wall has served as Kinetik's Chief Operating Officer since the closing of the merger between EagleClaw Midstream and Altus Midstream. He joined BCP GP in July 2017 as Vice President, Operations and was appointed Chief Operating Officer in May 2019. His industry experience is focused on midstream gas gathering/processing design and commissioning, and operational support engineering. Mr. Wall's previous roles include Manager of Engineering at Aka Energy Group LLC, Senior Process Engineer at BCCK Engineering, Project Engineer at Southern Union Gas Services, and Well Services Engineer at Schlumberger.

Mr. Stellato has served as Kinetik's Executive Vice President, Chief Administrative Officer, and Chief Accounting Officer since the closing of the merger between EagleClaw Midstream and Altus Midstream. He held the same position at BCP GP prior to the merger. In this capacity, he is responsible for various functions including Accounting, Tax, and Insurance/Risk Management. Mr. Stellato possesses extensive experience in leading teams across accounting, finance, treasury, tax, and mergers and acquisitions.

Ms. Ellis has served as Kinetik's General Counsel, Chief Compliance Officer, and Corporate Secretary since February 2025. She previously served as Deputy General Counsel and Corporate Secretary from 2022 to February 2025, and as Associate General Counsel at BCP Raptor Holdco GP, LLC, the general partner of BCP, from 2019 to 2021. From 2021 to 2022, Ms. Ellis served as the General Counsel and Secretary of Archaea Energy Inc.

Kinetik (KNTK) operates primarily in the Permian Basin, specifically within the Delaware Basin in West Texas and New Mexico, providing midstream energy services.

The addressable markets for their main products and services in this region are sizable:

• Produced Water Gathering and Disposal: The market for produced water disposal and treatment in the Permian Basin alone is approximately $12 billion. The overall U.S. oilfield water management market is valued at around $37.5 billion. The Permian Basin is projected to account for approximately $101.8 billion of the U.S. midstream water spend from 2025 to 2030, representing nearly two-thirds of the total U.S. market value.
• Natural Gas Gathering, Compression, Processing, and Treating: The Permian Basin is experiencing significant growth in natural gas processing capacity. By the end of 2026, forecasts indicate an additional 5.2 billion cubic feet per day (Bcf/d) of gas processing capacity compared to 2024. To meet the projected demand growth, approximately 10 Bcf/d of additional processing capacity is needed in the Permian, with over 5.5 Bcf/d already sanctioned.
• Natural Gas Pipeline Transportation: Several new natural gas pipeline projects are increasing takeaway capacity from the Permian Basin to demand centers. The Matterhorn Express Pipeline (2.5 Bcf/d) was expected to begin service in Q3 2024, and other announced projects like Apex Pipeline (2.0 Bcf/d by 2026), Blackcomb Pipeline (2.5 Bcf/d by 2026), and Saguaro Connector Pipeline (2.8 Bcf/d between 2025 and 2028) will further expand capacity. In total, three new Permian Basin pipeline projects with a combined capacity of 7.3 Bcf/d have been approved.

Information on the specific addressable market size for crude oil gathering, stabilization, and storage within the Permian Basin was not explicitly quantified in the search results as a standalone market value. Therefore, it is not possible to provide a specific market size for this product line.

Here are 3-5 expected drivers of future revenue growth for Kinetik (KNTK) over the next 2-3 years:

1. Increased Processing Capacity and Infrastructure Expansion: Kinetik anticipates significant revenue growth from the full in-service and ramp-up of its Kings Landing processing plant, which is expected to drive material processed gas volume growth into 2026. Additionally, the construction of the new ECCC Pipeline, connecting Eddy County, New Mexico, and Culberson County, Texas, is poised to boost the company's processing capabilities and operational flexibility.
2. Strategic Acquisitions and Enhanced Customer Relationships: The company's strategic acquisitions, such as the Durango acquisition and the bolt-on acquisition of natural gas and crude oil gathering systems in Reeves County, Texas (Barilla Draw), are expected to expand Kinetik's operations and increase processing capacity. Kinetik is also focused on expanding its relationship with Permian Resources, anticipating attractive volume growth due to long-term development plans.
3. New Revenue Streams from Sustainability Initiatives: Kinetik's commitment to sustainability is expected to generate new revenue. The approval of the MRV Plan from the EPA for three acid gas injection wells will enhance sustainability efforts and create new revenue opportunities through 45Q credits, with economic benefits projected from 2025.
4. Organic Volume Growth in the Permian Basin: Operating as a pure-play Permian-to-Gulf Coast midstream corporation in the Delaware Basin, Kinetik is positioned for organic growth. The company's strong organic backlog and continuous commercial opportunities with both new and existing customers, particularly within the highly active Permian Basin, are expected to contribute to material processed gas volume growth.

Share Repurchases

• In February 2023, Kinetik's Board of Directors authorized a share repurchase program of up to $100.0 million.
• This program was increased by $400.0 million in May 2025, bringing the total authorized amount to $500.0 million.
• Year-to-date through October 31, 2025, the company repurchased $176 million of Class A common stock, including $100 million in Q3 2025.

Share Issuance

• The 2024 Durango acquisition was partly financed by issuing 3.8 million new shares at closing, with an additional 7.7 million shares expected to be issued in July 2025.
• As of September 30, 2025, there were 64.1 million shares of Class A Common Stock and 97.6 million shares of Class C Common Stock issued and outstanding.

Outbound Investments

• In 2024, Kinetik acquired and began integrating the Durango Midstream assets for an initial consideration of $765 million, with a contingent payment of $75 million.
• In January 2025, Kinetik completed the $175.5 million Barilla Draw bolt-on acquisition.
• In October 2025, Kinetik divested its 27.5% equity interest in EPIC Crude Holdings, LP for over $500 million in net upfront cash, plus a potential $96 million contingent payment.

Capital Expenditures

• Kinetik's capital expenditures for the full year 2022 were $284.0 million.
• For the nine months ended September 30, 2025, capital expenditures totaled $358.354 million.
• The company's revised capital guidance for the full year 2025 is between $485 million and $515 million, primarily focused on strategic infrastructure projects such as the Kings Landing Complex and the ECCC Pipeline.