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HOUSTON & MIDLAND, Texas - Kinetik Holdings Inc. (NYSE: KNTK), a midstream energy company, announced today that its Chief Strategy Officer, Anne Psencik, has decided to retire effective June 30, 2025. Psencik, who has been with Kinetik since 2019, will continue to fulfill her duties until her retirement date and will subsequently serve as a consultant to the company.
Jamie Welch, President and CEO of Kinetik, expressed his gratitude for Psencik’s contributions, particularly highlighting her role in risk management and advising on commercial and investment opportunities. Under her tenure, the company has maintained a strong 7.25% dividend yield and achieved revenue of $1.48 billion in the last twelve months. Welch credited her with aiding the company’s long-term growth strategy during her six-year tenure.
With over 35 years of industry experience, Psencik’s career has spanned various aspects of the oil and gas sector, including midstream business development, trading, and engineering and construction. Her leadership at Kinetik has been noted as instrumental in the company’s development.
Kinetik Holdings, headquartered in Houston and Midland, Texas, operates in the Delaware Basin and is known for providing a range of services such as gathering, transportation, compression, processing, and treating of natural gas, natural gas liquids, crude oil, and water. The company is a fully integrated, pure-play Permian-to-Gulf Coast midstream C-corporation.
This announcement is based on a press release statement from Kinetik Holdings Inc.
In other recent news, Kinetik Holdings Inc. has reported several key developments that may interest investors. UBS has initiated coverage on Kinetik Holdings with a Neutral rating and a price target of $49.00, noting an expected earnings increase of approximately 14.5% in 2025 due to acquisitions and new projects. However, UBS also expressed concerns about potential challenges from weaker crude and natural gas liquids prices. Similarly, Citi maintained its Neutral rating with a $58.00 price target, projecting that Kinetik’s first-quarter EBITDA might fall short of market expectations. They also highlighted potential cost increases and the impact of recent commodity price shocks on the company’s guidance.
Additionally, Kinetik Holdings has expanded its credit facility to $250 million and extended its maturity date to March 31, 2026, providing the company with increased financial flexibility. This move was accompanied by the removal of certain sustainability performance targets, suggesting a shift in financing conditions. Furthermore, Kinetik Holdings announced the pricing of a $250 million sustainability-linked notes offering, with proceeds intended for general corporate purposes, including debt repayment. On the corporate governance front, board member Jesse Krynak has resigned without citing any disagreements with the company, a change confirmed in a recent SEC filing. These developments reflect Kinetik Holdings’ ongoing adjustments in financial strategy and corporate structure.
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