US Pipeline Operator Kinetik Exploring Potential Sale

U.S. pipeline operator Kinetik Holdings is in the early stages of exploring a potential sale of the company, three sources familiar with the matter said on Wednesday.

The company is working with advisers on the process, said the sources, who cautioned that no deal was guaranteed and spoke on condition of anonymity to discuss confidential deliberations.

Kinetik focuses on transporting natural gas and crude oil from wells in the Delaware portion of the Permian basin of Texas and New Mexico. It has more than 4,600 miles of pipelines, as well as associated compression and processing infrastructure, according to its website.

Kinetik did not immediately respond to a request for comment.

Bloomberg News had earlier on Wednesday reported Kinetik was exploring sale options, citing people familiar with the matter.

(Reporting by David French in New York and Pooja Menon in Bengaluru; Editing by Shailesh Kuber And Franklin Paul)

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