Producers Midstream, a portfolio company of Tailwater Capital, is constructing a new gas gathering, treating, and processing system in Lea County, New Mexico. This project involves relocating an existing cryogenic processing plant and installing new compression equipment to meet the growing needs of the Delaware Basin, one of the most active oil and gas producing regions in the United States.
Barclays analyst Theresa Chen initiated coverage on Kinetik Holdings (KNTK) with an Equal Weight rating and $40 price target, highlighting the company’s strategic asset positioning in the Delaware Basin. Chen praised the company’s gathering and processing assets, noting the area’s consistent production growth and high gas-to-oil ratios. She also pointed to the cash stability provided by Kinetik’s fee-based G&P contracts and equity interests in pipelines.
