Oneok Inc.
ONEOK Announces Sale of Interstate Pipelines to DT Midstream
Summary
On November 19, 2024, ONEOK, Inc. announced the agreement to sell three of its wholly owned interstate natural gas pipeline systems—Guardian, Midwestern, and Viking Gas Transmission—to DT Midstream, Inc. for a total cash consideration of $1.2 billion. The transaction is expected to close in the fourth quarter of 2024, subject to regulatory approvals and customary closing conditions. This strategic move aims to enhance ONEOK's capital allocation priorities and financial flexibility.
Profitelligence Alerts
Get alerts for OKE
Be first to know when Oneok Inc. files with the SEC.
Filing Categories
Exhibits (1)
Advertisement
About Oneok Inc.
Oneok Inc., a prominent energy company, plays a crucial role in the United States' natural gas and natural gas liquids (NGL) industries. As an integral midstream service provider, Oneok focuses on gathering, processing, transportation, and storage of natural gas, as well as the fractionation and distribution of NGL products. Its operations span extensive and strategically positioned infrastructure, particularly in prolific production areas like the Rocky Mountains, Mid-Continent, and Permian Basin regions. These operations allow Oneok to efficiently manage the supply chain of hydrocarbons from the extraction points to end-users, ensuring a reliable energy supply. The company's comprehensive service offerings cater to a diverse clientele, including utilities, refiners, and chemical companies. Established in 1906, Oneok has significantly contributed to the energy landscape by enhancing the value chain of natural gas and fostering the transition towards cleaner energy sources. The company's dedication to safety, operational excellence, and sustainability underscores its commitment to the evolving energy market.
Official SEC Documents
Advertisement