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KNTK vs PAA

Kinetik Holdings Inc. and Plains All American Pipeline, L.P. Common Units representing Limited Partner Interests

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Kinetik Holdings Inc.

Kinetik Holdings Inc., through its subsidiaries, operates as a midstream company in the Texas Delaware Basin. It operates through two segments, Midstream Logistics and Pipeline Transportation. The company offers gathering, compression, processing, stabilization, treating, and storage services; transportation services through pipelines; and water gathering and disposal services for companies that produce natural gas, natural gas liquids (NGL), and crude oil. It also sells condensates, natural gas residue, and NGLs. Kinetik Holdings Inc. was founded in 2017 and is headquartered in Midland, Texas.

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Plains All American Pipeline, L.P. Common Units representing Limited Partner Interests

Plains All American Pipeline, L.P., through its subsidiaries, engages in the pipeline transportation, terminaling, storage, and gathering of crude oil and natural gas liquids (NGL) in the United States and Canada. The company operates through two segments, Crude Oil and NGL. The Crude Oil segment offers gathering and transporting crude oil through pipelines, trucks, and on barges or railcars. This segment provides terminaling, storage, and other related services, as well as merchant activities. The NGL segment is involved in natural gas processing and NGL fractionation, storage, transportation, and terminaling. This segment also includes ethane, propane, normal butane, iso-butane, and natural gasoline derived from natural gas production and processing activities, as well as crude oil refining processes. Its NGL components are used for various applications, such as heating, engine, and industrial fuels. The company was founded in 1981 and is headquartered in Houston, Texas. Plains All American Pipeline, L.P. operates as a subsidiary of Plains GP Holdings, L.P.

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