Kinetik completed the acquisition of the midstream gathering systems of Permian Resources for $180m.

Kinetik, a midstream energy company, completed the acquisition of the midstream gathering systems of Permian Resources, an oil and natural gas company, for $180m. "We are excited to announce another divestiture of non-core assets at a price that is accretive over both the short and long-term, further streamlining our business and driving value for investors. The sale of these non-core infrastructure assets will allow us to continue our relentless focus on being the Delaware Basin’s lowest cost operator," James Walter, Permian Resources Co-CEO.