Welcome to our dedicated page for Enlink Midstream news (Ticker: ENLC), a resource for investors and traders seeking the latest updates and insights on Enlink Midstream stock.
EnLink Midstream LLC (NYSE: ENLC) operates essential midstream infrastructure across North America's key energy basins, providing critical services in hydrocarbon transportation and processing. This news hub serves as the definitive source for tracking ENLC's latest corporate developments and market positioning.
Investors and industry observers will find comprehensive coverage of material events including earnings announcements, strategic partnerships, infrastructure expansions, and sustainability initiatives. Our curated news selection prioritizes operational updates that impact the company's role in energy logistics and carbon management solutions.
The repository features verified press releases alongside third-party analysis, offering multiple perspectives on ENLC's market activities. Content categories include regulatory filings, leadership updates, contract announcements, and industry trend commentary relevant to midstream operations.
Bookmark this page for streamlined access to ENLC's evolving story in energy infrastructure. Combine periodic checks with SEC filings for complete due diligence.
BKV (NYSE: BKV) has appointed Dilanka Seimon as its first Chief Commercial Officer, effective immediately. In this newly created position, Seimon will focus on strengthening the company's commercial midstream, gas marketing, and new products teams, while leveraging its carbon capture, utilization and sequestration (CCUS) portfolio.
Seimon brings over 20 years of experience in the energy sector, having previously served as Executive Vice President and Chief Commercial Officer at EnLink Midstream (NYSE: ENLC). His prior roles include Vice President of Alternative Energy at Energy Transfer and Vice President Sales and Marketing at BHP.
The appointment aligns with BKV's strategy to enhance its position in upstream, midstream, carbon capture, and power market operations, with a focus on delivering sustainable energy and carbon-neutral natural gas production.
Tortoise Capital has announced the removal of EnLink Midstream, (ENLC) from three major indices - the Tortoise MLP Index (TMLP), the Tortoise North American Pipeline Index (TNAP), and the Tortoise Decarbonization Infrastructure Index (DCRBN). This change comes as a result of ENLC's announced acquisition by ONEOK Inc. The removal will take effect at market open on January 31, 2025. While TMLP will undergo a special rebalance, ENLC's weight in TNAP and DCRBN will be distributed pro rata among the remaining index constituents.
EnLink Midstream unitholders have overwhelmingly approved ONEOK's acquisition of the remaining publicly held common units, with approximately 99.8% of voted units (379.1 million units) cast in favor of the transaction. This represents 82.9% of outstanding units voting in favor.
The acquisition is scheduled to close on January 31, 2025, with EnLink common units ceasing trading on the NYSE prior to market open on that date. Upon completion, each outstanding common unit of EnLink not owned by ONEOK will be converted into 0.1412 shares of ONEOK common stock.
ONEOK (NYSE: OKE) and EnLink Midstream (NYSE: ENLC) announced the filing of definitive proxy materials for ONEOK's pending acquisition of EnLink's remaining publicly held common units. The Special Meeting is scheduled for Jan. 30, 2025, where EnLink unitholders of record as of Dec. 23, 2024, will vote on the transaction.
In this tax-free transaction, each outstanding EnLink common unit not owned by ONEOK will be converted into 0.1412 shares of ONEOK common stock. The deal requires approval from a majority of EnLink's outstanding common units. ONEOK has committed to vote its units in favor, and no ONEOK shareholder vote is required.
The combination aims to establish an integrated Permian Basin platform and expand ONEOK's presence in Mid-Continent, North Texas, and Louisiana regions. The transaction is expected to close in Q1 2025, subject to unitholder approval and customary conditions.
ONEOK (NYSE: OKE) has announced a definitive merger agreement to acquire all outstanding publicly held common units of EnLink Midstream (NYSE: ENLC) for $4.3 billion in ONEOK common stock. The tax-free transaction will convert each EnLink unit into 0.1412 shares of ONEOK common stock, based on EnLink's closing price of $15.75 per unit. ONEOK will issue approximately 37.0 million shares, representing about 6.0% of total shares outstanding post-transaction. The merger, expected to close in Q1 2025, requires approval from EnLink unitholders, with ONEOK already committed to vote its 44% stake in favor. This follows ONEOK's recent acquisition of Global Infrastructure Partners' interest in EnLink for $3.3 billion.
ONEOK (NYSE: OKE) has agreed to sell its three wholly owned interstate natural gas pipeline systems to DT Midstream for $1.2 billion in cash. The transaction includes Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission systems. The purchase price represents 10.8x previous 12-month EBITDA as of June 30, 2024. The deal, expected to close in Q4 2024, aims to enhance ONEOK's capital allocation priorities and support its deleveraging target of 3.5x by 2026. The transaction is subject to customary closing conditions, including Hart-Scott-Rodino Act clearance.
ONEOK Foundation has donated $100,000 to the North Dakota Stockmen's Association (NDSA) and Foundation's Out of the Ashes Wildfire Disaster Relief Program, bringing the total relief fund to $723,114.56. The program aims to support cattle producers affected by recent North Dakota wildfires that devastated approximately 126,000 acres in early October. The relief fund will provide financial assistance for losses in pasture, hay, fencing, building structures, and livestock. Several ONEOK employees participated as first responders and volunteer firefighters during the emergency. The program is accepting donations through the North Dakota Stockmen's Foundation to support ongoing recovery efforts.
ONEOK (NYSE: OKE) announces its participation in the BofA Securities Global Energy Conference on November 13, 2024, in Houston. The company's management team will engage in a fireside chat session at 2:20 p.m. Eastern Time. The session will be webcast live and available for replay on ONEOK's website.
ONEOK operates as a leading midstream company with a 50,000-mile pipeline network, providing gathering, processing, fractionation, transportation, and storage services for natural gas, NGLs, refined products, and crude oil. As of October 15, 2024, ONEOK owns 43% of EnLink Midstream's outstanding common units and serves as its managing member.
EnLink Midstream (ENLC) reported strong Q3 2024 financial results with net income of $43.1 million and operating cash flow of $260.1 million. The company generated adjusted EBITDA of $345.0 million and delivered $122.4 million in free cash flow after distributions. Key developments include securing additional 200,000 MMBtu/d of long-term gas transportation capacity in Louisiana, repurchasing $45.4 million of common units, and receiving a credit rating upgrade to 'BBB' from S&P Global. EnLink remains on track to achieve the midpoint of its 2024 adjusted EBITDA guidance range of $1.31-1.41 billion, with FCFAD expected to reach the upper end of $265-315 million guidance.
ONEOK (NYSE: OKE) has completed the acquisition of Medallion Midstream from Global Infrastructure Partners for $2.6 billion in cash. The acquisition includes the largest privately held crude oil gathering and transportation system in the Permian's Midland Basin, comprising over 1,200 miles of crude oil gathering pipelines with 1.3 million barrels per day capacity and 1.5 million barrels of crude oil storage. The assets connect with ONEOK's existing long-haul crude oil pipelines, enabling commercial synergies and expanding the company's Permian Basin platform.
