Item 1.01 Entry into a Material Definitive Agreement.

On October 8, 2021, Altus Midstream Processing LP ("Processor"), a subsidiary of Altus Midstream Company (the "Company"), entered into a new Gas Processing Agreement (the "New GPA"), dated effective September 1, 2021, with Apache Corporation ("Producer"), the Company's indirect controlling stockholder. The New GPA provides for the processing of certain natural gas production from Producer by Processor and terminates and supersedes the existing Gas Processing Agreement (the "Prior GPA"), dated July 1, 2018, by and between Processor and Producer. In accordance with the Company's related-party transaction policy, the New GPA was reviewed and approved by the Conflicts Committee of the Company's board of directors.

The New GPA and the Prior GPA have substantially similar terms. The material differences between the New GPA and the Prior GPA are as follows: (i) natural gas liquids recoveries have been changed from actuals to a fixed recovery percentage; (ii) fuel, lost, and unaccounted for gas have been changed from being allocated and capped to being based on negotiated fixed percentages; (iii) treating fees have been added when the blended stream does not fall within defined specifications; (iv) Producer's reserved capacity entitlement has been reduced and is now based on historical performance, providing Processor with greater flexibility to serve third parties with equal priority to Producer; (v) the "most favored nations" provision has been removed; and (vi) processing fees for gas from new wells drilled and completed after September 1, 2021 have been reduced.

The foregoing description of the New GPA and the differences between the New GPA and the Prior GPA does not purport to be complete and is qualified in its entirety by reference to the full text of the New GPA, which is attached hereto as Exhibit 10.1 and incorporated herein by reference.

Additional information about the New GPA is also available on the "Investors" section of the Company's website at www.altusmidstream.com. Information on the Company's website is not incorporated by reference into, and does not constitute a part of, this Current Report on Form 8-K.

Item 9.01 Financial Statements and Exhibits






(d) Exhibits.




Exhibit No.       Description

10.1*†              Gas Processing Agreement, dated effective September 1, 2021, by
                  and between Apache Corporation and Altus Midstream Processing LP.


104               Cover Page Interactive Data File (embedded within the Inline XBRL
                  document).

* Portions of this exhibit have been omitted, pursuant to Regulation S-K

Item 601(b)(10)(iv), because the omitted information is both not material and

is the type that the Company treats as private or confidential.

† Schedules and exhibits to this exhibit have been omitted, pursuant to


  Regulation S-K Item 601(a)(5). The Company agrees to furnish supplementally a
  copy of any omitted schedule or exhibit to the SEC upon request; provided,
  however, that the Company may request confidential treatment pursuant to Rule
  24b-2 of the Securities Exchange Act of 1934, as amended, for any schedule or
  exhibit so furnished.

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