Oneok Inc.
ONEOK Completes Acquisition of Medallion Midstream
Summary
On October 31, 2024, ONEOK, Inc. completed the acquisition of Medallion Midstream, the largest privately held crude oil gathering and transportation system in the Permian's Midland Basin, for approximately $2.6 billion in cash. The acquisition includes over 1,200 miles of crude oil gathering pipelines and 1.5 million barrels of crude oil storage capacity. This transaction diversifies ONEOK's asset portfolio and is expected to drive commercial synergies with ONEOK's existing Permian Basin operations.
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