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ALTUS MIDSTREAM NEWS RELEASE Altus Midstream Announces Third - Quarter 2021 Results • Strong third - quarter results with steady operational and financial performance ; . Signed new agreement with Apache Corporation modifying gas processing fees to be more consistent with current market prices and incentivize new drilling at Alpine High ; • Announced combination with Eagle Claw , which will form one of the largest integrated midstream companies in the Permian Basin ; and • Declared fourth quarterly cash dividend on Class A common shares at a rate of $ 1.50 per share . HOUSTON , Nov. 3 , 2021 - Altus Midstream Company ( Nasdaq : ALTM ) today announced its financial and operational results for the three - month period ending Sept. 30 , 2021 . The company reported third - quarter 2021 net income including noncontrolling interests of $ 50 million , which includes a $ 4 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 third quarter 2021 was $ 70 million . Growth capital expenditures were approximately $ 3 million . Gathering and processing ( G & P ) throughput volumes were up 1 % from the preceding quarter and averaged 452 million cubic feet ( MMcf ) per day , approximately 75 % of which was rich gas . CEO Comment " Altus Midstream delivered strong third - quarter results , and we continue to make consistent progress on our key performance metrics , ” said Clay Bretches , Altus Midstream CEO and president . " We remain on track to meet the annual guidance we've set for G & P volumes , capital expenditures and earnings . Execution in the field continues to impress , with excellent reliability and safety performance . " Bretches also commented on the new gas processing agreement signed with Apache and the announced combination with EagleClaw , both of which occurred in October . " The new gas processing agreement provides terms that are better aligned with today's competitive landscape . The modifications are designed to incentivize new drilling by Apache in Alpine High and facilitate Altus ' efforts to bring in additional third - party gas from elsewhere in the Delaware Basin .