Kinetik Holdings Inc. entered agreements for around $1 billion to expand its New Mexico operations and footprint in Permian’s Delaware sub-basin.

The Permian Basin pure-play agreed to acquire Durango Midstream LLC for $315 million, with up to $75 million contingent on the final cost of Durango’s Kings Landing project in Eddy County, NM.

The 200 MMcf/d greenfield gas processing complex is currently under construction and has a scheduled completion date of April 2025. 

[Inside the Political Firestorm: NGI sits down with Neil Chatterjee, a former FERC chairman and commissioner, to discuss the impacts of President Biden’s LNG pause on authorizing new liquefied natural gas export projects in the U.S. Tune into NGI’s Hub & Flow podcast now.]

Separately, Kinetik executed a...