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Kinetik Hit by Waha Natural Gas Price Slump; Infrastructure, LNG Offer Relief

Natural Gas Intelligence · last updated

Kinetik Holdings Inc. faced a challenging third quarter, as plunging Waha natural gas prices and related production shut-ins weighed on volumes and earnings. However, the Permian Basin midstream operator expects relief as new takeaway capacity comes online over the next year.

Line chart titled “NGI’s Daily Natural Gas Prices” comparing Henry Hub and Waha natural gas prices from July 2024 through September 2025. The chart shows Henry Hub prices holding mostly between $2-4/MMBtu with brief winter spikes above $8, while Waha prices remain highly volatile with frequent negative dips as low as minus $8/MMBtu. NGI logo appears in the upper right corner.

At A Glance:

  • Waha hub prices collapse
  • Processed volumes up 8%
  • Company cites LNG and pipeline growth