Kinetik Holdings: A Potential Sale in the Pipeline

Kinetik Holdings, a pipeline operator in the Delaware Basin, is exploring a potential sale following an expression of interest from Western Midstream Partners, reports the Financial Times. Anonymous sources highlight growing U.S. gas consumption as a driving factor in this strategic move.

The Texas-based company, valued at $7.20 billion according to LSEG data, initiated a sale process to measure interest from strategic and infrastructure buyers. This step follows Western Midstream's recent approach, backed by Occidental Petroleum, though Reuters could not confirm the details independently.

While discussions remain preliminary, with no formal bids on the table, this development indicates significant interest in the market as energy demands continue to rise.