Business Context and Reporting Period
This Form 8-K is a current report filed by Altus Midstream Company (not Kinetik Holdings Inc.) on December 19, 2019. The filing addresses Item 5.02 regarding the appointment of a new director to the Company's Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on corporate governance changes and does not contain financial performance data.
Material Changes
The material change reported is the appointment of Christopher J. Monk as a new director of the Board. Mr. Monk was designated by Apache Corporation to fill a vacancy. His term expires at the Company's annual meeting of stockholders in 2020.
Guidance, Outlook, and Management Commentary
- Compensation: Mr. Monk is an employee of Apache Corporation and does not receive additional compensation for his service on the Altus Midstream Board.
- Contracts: No material plan, contract, or arrangement was entered into or amended in connection with this appointment.
- Background: Mr. Monk currently serves as Director, Market Strategies at Apache. He previously worked as a Portfolio Manager at Hudson Ridge Asset Management and held roles in ConocoPhillips' Commercial Supply and Trading group.
- Risks/Contingencies: The filing states Mr. Monk has no family relationships with other directors or officers and no direct or indirect material interest in transactions other than through his employment with Apache.
Important Facts for Investor Verification
- Verify the identity of the registrant as Altus Midstream Company (Ticker: ALTM), noting the discrepancy with the requested company name (Kinetik Holdings Inc.).
- Confirm that the new director, Christopher J. Monk, is designated by Apache Corporation.
- Note that the appointment involves no additional compensation or new material contracts.
- Understand that this filing contains no financial results or forward-looking guidance.