Kinetik receives takeover interest from Western Midstream, FT reports

Kinetik (KNTK), a $7.2B gas pipeline operator with roughly 4,600 miles of pipeline in the Delaware Basin, is considering a sale following interest from Western Midstream Partners (WES), backed by Occidental Petroleum (OXY), The Financial Times’ Oliver Barnes and Jamie Smyth report. The potential transaction comes amid a U.S. natural gas boom driven by record production, rising LNG exports, and increased fuel demand for data centers. Kinetik began weighing a sale process to test interest from both strategic and infrastructure buyers after Western Midstream made an approach in recent weeks, people familiar with the matter say, adding that the discussions are at an early stage and no formal bid has been made.