Kinetik Holdings and Energy Transfer reach settlement on NGL contract expiration

Kinetik Holdings Inc. (NYSE:KNTK) announced Monday that its subsidiary, EagleClaw Midstream Ventures, LLC, and Energy Transfer GC NGL Product Services, LLC have reached a settlement regarding the expiration date of a natural gas liquids (NGL) purchase agreement. According to a statement in a press release based on a recent SEC filing, both parties have agreed and confirmed that the last day of the term of the EagleClaw NGL purchase agreement will be December 31, 2026.

The settlement resolves a previously disclosed dispute between the two companies concerning the expiration date of the agreement. Energy Transfer GC NGL Product Services, LLC, formerly known as Lone Star NGL Product Services, LLC, is a counterparty to two agreements with EagleClaw Midstream Ventures that have been subject to litigation. The other agreement remains under litigation and awaits adjudication.

Kinetik Holdings, headquartered in Houston, Texas, operates in the natural gas transmission sector. The company’s Class A Common Stock is listed on the New York Stock Exchange under the ticker KNTK.

The information is based on a press release statement included in the company’s Form 8-K filing with the Securities and Exchange Commission.

In other recent news, Kinetik Holdings L.P. reported impressive second-quarter 2026 earnings, surpassing Wall Street expectations for both profit and revenue. The company posted adjusted earnings of $0.64 per share, significantly exceeding the anticipated $0.25, and generated revenue of $581.44 million, well above the projected $438.25 million. This strong performance led Kinetik to raise its full-year 2026 adjusted EBITDA guidance to a range of $1.04 billion to $1.1 billion. Additionally, the company attributed its record quarterly adjusted EBITDA of $281 million to operational improvements and favorable commodity conditions.

In other developments, Kinetik Holdings is reportedly exploring strategic options, including a potential sale. The company, backed by Blackstone Inc., is working with advisers to evaluate these options, although no final decision has been made. Meanwhile, Clear Street downgraded Kinetik Holdings’ stock rating from Buy to Hold, citing limited upside potential after the stock’s substantial outperformance this year. The firm set a price target of $57.00, reflecting its cautious stance on further gains. These recent developments highlight significant changes and considerations for Kinetik Holdings and its investors.