Kinetik Holdings (NYSE:KNTK) has completed its acquisition of Durango Permian, marking a strategic expansion in the Northern Delaware Basin.
The transaction, finalized on June 24, 2024, involved Kinetik acquiring Durango from an affiliate of Morgan Stanley Equity Partners for $765 million.
This includes $315 million in cash paid at closing, 3.8 million common units of Kinetik LP, and approximately 7.7 million OpCo Units to be issued on July 1, 2025.
The acquisition notably enhances Kinetik’s footprint in the Delaware Basin, substantially boosting its infrastructure and service capabilities in the region