US pipeline operator Kinetik exploring potential sale, sources say
KNTK•Kinetik explores sale options
Sept. 9 (Reuters) - U.S. pipeline operator Kinetik Holdings KNTK.N is in the early stages of exploring a potential sale of the company, three sources familiar with the matter said on Wednesday.
The company is working with advisers on the process, said the sources, who cautioned that no deal was guaranteed and spoke on condition of anonymity to discuss confidential deliberations.
Kinetik's business and assets
Kinetik focuses on transporting natural gas and crude oil from wells in the Delaware portion of the Permian basin of Texas and New Mexico. It has more than 4,600 miles of pipelines, as well as associated compression and processing infrastructure, according to its website.
Company response and prior reporting
Kinetik did not immediately respond to a request for comment.
Bloomberg News had earlier on Wednesday reported Kinetik was exploring sale options, citing people familiar with the matter.
