Oneok Inc.
ONEOK Completes Acquisition of EnLink Midstream
Summary
On January 31, 2025, ONEOK, Inc. (NYSE: OKE) completed its acquisition of EnLink Midstream, LLC (EnLink), a strategic move that further enhances ONEOK's integrated midstream business and diversifies its platform. EnLink unitholders, excluding ONEOK, received 0.1412 shares of ONEOK common stock for each EnLink unit, and EnLink units ceased to be publicly traded. This transaction was executed through a two-step merger process, with ONEOK issuing a press release announcing the completion and detailing the terms and benefits of the acquisition.
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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.
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