Kinetik Holdings Inc-A 2025年季度报告

QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period endedMarch 31, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number:001-38048 KINETIK HOLDINGS INC. Houston,Texas,77056(Address of principal executive offices) (Zip Code) Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of the Securities Exchange Act of1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to suchfiling requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, oran emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growthcompany” in Rule 12b-2 of the Exchange Act. Non-accelerated filer☐SmallerreportingcompanyEmerging growth company If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with anynew or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ Number of shares of registrant’s Class A Common Stock, par value $0.0001 per share issued and outstanding as of April30, 2025Number of shares of registrant’s Class C Common Stock, par value $0.0001 per share issued and outstanding as of April30, 2025 31, 2025 AND 2024CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN EQUITY AND NONCONTROLLING POLICIES2.BUSINESS COMBINATIONS 3.REVENUE RECOGNITION 4.PROPERTY, PLANT AND EQUIPMENT5.INTANGIBLE ASSETS, NET6.EQUITY METHOD INVESTMENTS7.DEBT AND FINANCING COSTS 8.ACCRUED EXPENSES 9.EQUITY FAIR VALUE MEASUREMENTS DERIVATIVES AND HEDGING ACTIVITIES SHARE-BASED COMPENSATION INCOME TAXES NET INCOME PER SHARE COMMITMENTS AND CONTINGENCIES SEGMENTS SUBSEQUENT EVENTS 2.MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OFOPERATIONS3.QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK4.CONTROLS AND PROCEDURESPART II — OTHER INFORMATION1.LEGAL PROCEEDINGS1A.RISK FACTORS2.UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS5.OTHER INFORMATIONSIGNATURESi certain terms which are commonly used in the exploration, production and midstream sectors of the oil and natural gas industry: •A/R Facility.Accounts Receivable Securitization Facility •ASC. Accounting Standards Codification •ASU.Accounting Standards Updates •Bbl.One stock tank barrel of 42 United States (“U.S.”) gallons liquid volume used herein in reference to crude oil,condensate or natural gas liquids •Bcf.One billion cubic feet •Bcf/d.One Bcf per day •MBbl.One thousand barrels of crude oil, condensate or NGLs •Mcf.One thousand cubic feet of natural gas •MMBtu.One million British thermal units•MMcf.One million cubic feet of natural gas•MVC. Minimum volume commitments•NGL or NGLs.Natural gas liquids. Hydrocarbons found in natural gas, which may be extracted as liquefied petroleum gasand natural gasoline •Throughput.The volume of crude oil, natural gas, NGLs, water and refined petroleum products transported or passingthrough a pipeline, plant, terminal or other facility during a particular period •SEC. United States Securities and Exchange Commission ii This Quarterly Report on Form 10-Q includes “forward-looking statements” within the meaning of Section 27A of the SecuritiesAct of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). All statementsother than statements of historical facts included or incorporated by reference in this Quarterly Report on Form 10-Q, including,without limitation, statements regarding our future financial position, business strategy, budgets, projected revenues, projected costsand plans, and objectives of management for future operations, are forward-looking statements. In addition, forward-lookingstatements generally can be identified by the use of forward-looking terminology such as “may,” “will,” “could,” “expect,” “intend,”“project,” “estimate,” “anticipate,” “plan,” “believe,” “continue,” “seek,” “guidance,” “might,” “outlook,” “possibly,” “potential,”“prospect,” “should,” “would,” or similar terminology. The absence of these words does not mean that a statement is not forward- looking. Althoughwe believe that the expectations reflected in such forward-looking statements are reasonable under thecircumstances, we can give no assurance that such expectations will prove to have been correct. Key factors that could cause actual results to differ materially fr