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Dec 31, 2019
Kinetik Q4 2019 Earnings Report
Altus Midstream's financial results were impacted by declining activity levels at Alpine High, leading to an impairment charge. However, JV pipelines offered stable cash flows.
Key Takeaways
Altus Midstream reported a net loss of $1.33 billion for Q4 2019, including a $1.36 billion impairment and tax charges. Excluding these items, adjusted EBITDA was $46.2 million. G&P volumes averaged 643 million cubic feet per day, with 65% being rich gas.
Altus exercised options in three long-haul joint venture pipelines.
The company secured financing for capital plans without issuing common equity.
Three new processing plants were started up on time and on budget.
Financial results were impacted by declining activity levels at Alpine High, leading to an impairment charge.
Kinetik
Kinetik
Forward Guidance
Altus is aggressively pursuing third-party volumes to replace declining production from Alpine High and maximize throughput at our Diamond processing facility.