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ALTUS MIDSTREAM NEWS RELEASE Altus Midstream Announces Second - Quarter 2021 Results • Achieved lower operating costs for the eighth consecutive quarter while activity increased ; • Gathering and processing ( G & P ) volumes increased , driven by new well connections ; and • 2021 G & P volumes and earnings guidance revised upward . HOUSTON , Aug. 4 , 2021 - Altus Midstream Company ( Nasdaq : ALTM ) today announced its financial and operational results for the three - month period ending June 30 , 2021 . The company reported second - quarter 2021 net income including noncontrolling interests of $ 74 million , which includes a $ 31 million non - cash unrealized gain related to an embedded derivative in the company's preferred units . Excluding this and other items , adjusted EBITDA for the second quarter 2021 was $ 69 million . Growth capital expenditures were approximately $ 3.6 million , down from $ 21 million reported for the first quarter . Gathering and processing ( G & P ) throughput volumes were up 3 % from the preceding quarter and averaged 447 million cubic feet ( MMcf ) per day , approximately 74 % of which was rich gas . CEO Comment " For the second consecutive quarter , Altus Midstream was cash flow positive . The contributions from our joint venture pipeline projects , combined with an increase in volumes from our gathering and processing business , bolstered our financial results . Our team in the field has delivered outstanding operational performance while maintaining exceptional cost discipline that led to reductions in operating costs for the eighth consecutive quarter , " said Clay Bretches , Altus Midstream CEO and president . " With our competitive , low - cost operating structure , we are well - positioned to achieve year - over - year cost savings in excess of 15 % . " " I'm especially proud of our team's focus on safety , which has resulted in zero injuries and vehicle incidents through the first half of the year . In April , we achieved two years without a recordable injury . "