Kinetik Holdings: Monetizing The Permian's Constraints From Wellhead To Gulf Coast

Kinetik Holdings is positioned as a constraint monetization platform in the Delaware Basin, leveraging integrated control across the midstream value chain. Record Q2 results featured 36% revenue growth, 35% Adjusted EBITDA growth, and strong dividend coverage, driven by NGL recoveries and downstream optimization. KNTK’s growth outlook is underpinned by expansion projects like Kings Landing II, ECCC Pipeline, and increased Gulf Coast access, supporting multi-year EBITDA growth. Despite a premium EV/EBITDA multiple, KNTK’s forward P/CF discount and robust backlog execution support its long-term investment appeal amid manageable leverage and risks.

My current perspective on Kinetik Holdings Inc. (KNTK) stems from my belief that Kinetik will continue to increase its value as a constraint monetization platform in the Delaware Basin. Kinetik is commonly viewed as another