Exhibit 99.1
Final NEWS RELEASE
Kinetik Announces Two-For-One Split of its Common Stock
HOUSTON/MIDLAND, May 19, 2022 – Kinetik Holdings Inc. (NASDAQ: KNTK) (“Kinetik” or the “Company”) today announced that the Board of Directors has approved and declared a two-for-one split of the Company’s Common Stock in the form of a stock dividend (“Stock Split”).
The Company anticipates that the Stock Split will increase liquidity in the trading of the Company’s stock and will make its stock more accessible to its employees and investors.
The Stock Split will be accomplished by distributing one additional share of Class A Common Stock for each share of Class A Common Stock outstanding and one additional share of Class C Common Stock for each share of Class C Common Stock outstanding. The additional shares of common stock will be issued on Wednesday, June 8, 2022 to holders of record as of the close of business on Tuesday, May 31, 2022. Trading of the Class A Common Stock will begin on a Stock Split-adjusted basis on Thursday, June 9, 2022.
After giving effect to the Stock Split, Kinetik expects to have in total approximately 135 million shares of Common Stock outstanding. Beginning with the second quarter 2022 dividend, the quarterly dividend on the Company’s Common Stock will be $0.75 per share.
About Kinetik Holdings Inc.
Kinetik is a fully integrated, pure-play, Permian-to-Gulf Coast midstream C-corporation operating in the Delaware Basin. Kinetik is headquartered in Houston and Midland, Texas. Kinetik provides comprehensive gathering, transportation, compression, processing and treating services for companies that produce natural gas, natural gas liquids, crude oil and water. Kinetik posts announcements, operational updates, investor information and press releases on its website, www.kinetik.com.
Forward-looking statements
This news release includes certain statements that may constitute “forward-looking statements” for purposes of the federal securities laws. Forward-looking statements include, but are not limited to, statements that refer to projections, forecasts or other characterizations of future events or circumstances, including any underlying assumptions. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intends,” “may,” “might,” “plan,” “seeks,” “possible,” “potential,” “predict,” “project,” “prospects,” “guidance,” “outlook,” “should,” “would,” “will,” and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. These
