Houston-based Kinetik Holdings said this week it will acquire Permian Resources’ natural gas and crude oil gathering systems in Reeves County for $180 million. Kinetik said Tuesday, “This transaction provides a multi-stream opportunity for natural gas gathering, compression and processing as well as crude gathering services for Kinetik.”
The assets include about 60,000 gross operated acres dedicated by Midland-based Permian Resources under long-term, fixed-fee agreements, more than 250,000 cfd of primarily owned electric compression with corresponding ownership of a private electric distribution system, and more than 150,000 cfd of gas gathered volumes and 25,000 b/d of crude gathered volumes in 2025.
Jamie Welch, president and CEO, said “We are excited to further expand our Delaware gas and crude systems with this natural fit, bolt on acquisition. The assets are located adjacent to our existing Delaware south system and will be integrated shortly following closing (2025Q1).”