Oneok, Inc. - OKE STOCK NEWS

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.

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.

ONEOK (NYSE: OKE) reported strong Q3 2024 results with net income of $693 million ($1.18 per diluted share) and adjusted EBITDA of $1.55 billion. The company increased its 2024 financial guidance for the second time, with consolidated guidance including EnLink and Medallion contributions showing net income midpoint of $2.995 billion and adjusted EBITDA midpoint of $6.625 billion. Performance was driven by 7% increase in Rocky Mountain region NGL throughput, 5% increase in natural gas volumes, and 22% increase in Natural Gas Pipelines segment adjusted EBITDA. The company completed a $7 billion senior notes offering and acquired GIP's 43% stake in EnLink Midstream for $3.3 billion.

ONEOK, Inc. (NYSE: OKE) has declared a quarterly dividend of 99 cents per share, unchanged from the previous quarter. This results in an annualized dividend of $3.96 per share. The dividend is payable on Nov. 14, 2024, to shareholders of record at the close of business on Nov. 1, 2024.

ONEOK is a leading midstream operator with a 50,000-mile pipeline network, providing gathering, processing, fractionation, transportation, and storage services for natural gas, natural gas liquids (NGLs), refined products, and crude oil. The company is also the managing member of EnLink Midstream, (NYSE: ENLC), owning 43% of EnLink's outstanding common units.

EnLink Midstream (NYSE: ENLC) announced changes to its Board of Directors following ONEOK's acquisition of Global Infrastructure Partner's (GIP) 43% equity interest in ENLC and EnLink Manager. Three new directors from ONEOK have been appointed:

1. Pierce H. Norton II - Board Chairman and Chairman of Governance and Compensation Committee
2. Walter S. Hulse III - Member of Sustainability Committee
3. Lyndon C. Taylor - Member of Governance and Compensation Committee

These appointments reflect ONEOK's new controlling interest. Leldon E. Echols remains as Lead Independent Director. The departing directors are Matthew C. Harris, Benjamin M. Daniel, and Scott E. Telesz from GIP. EnLink's CEO, Jesse Arenivas, expressed gratitude for GIP's contributions and welcomed the new ONEOK directors, highlighting their extensive midstream and energy experience.

ONEOK has successfully completed its acquisition of Global Infrastructure Partners' (GIP) entire interest in EnLink Midstream, for approximately $3.3 billion. The acquisition includes 43% of EnLink's outstanding common units at $14.90 per unit and 100% of the interests in the managing member for $300 million. This strategic move expands ONEOK's integrated assets in key production basins, including the Permian Basin, and establishes a new asset position in Louisiana.

With this transaction, ONEOK gains control of EnLink's managing member and has appointed new board members. The company intends to pursue the acquisition of the publicly held common units of EnLink in a tax-free transaction. The combined asset bases are expected to enhance synergies, reduce leverage, and increase accretion to ONEOK shareholders. EnLink will become a consolidated subsidiary of ONEOK for GAAP financial reporting purposes, while both companies' stocks will continue to be publicly traded on the NYSE.

ONEOK, Inc. (NYSE: OKE) has scheduled its third quarter 2024 earnings release for October 29, 2024, after market close. A conference call and webcast will follow on October 30, 2024, at 11 a.m. Eastern (10 a.m. Central). Participants can join via phone at 877-883-0383 (entry number 6520132) or through the webcast at www.oneok.com. A replay will be available on ONEOK's website for one year and by phone for seven days.

ONEOK is a leading midstream operator 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 an S&P 500 company headquartered in Tulsa, Oklahoma, ONEOK plays a important role in meeting domestic and international energy demand.

ONEOK (NYSE: OKE) has announced a $7.0 billion senior notes offering with various maturities and coupon rates. The net proceeds, expected to be approximately $6.92 billion, will primarily fund the acquisition of Global Infrastructure Partners' interests in EnLink Midstream, and Medallion Midstream, . The offering includes:

• $1.25 billion of 3-year notes at 4.25%
• $600 million of 5-year notes at 4.40%
• $1.25 billion of 7-year notes at 4.75%
• $1.60 billion of 10-year notes at 5.05%
• $1.50 billion of 30-year notes at 5.70%
• $800 million of 40-year notes at 5.85%

The offering is expected to close around September 24, 2024, subject to customary conditions. Any remaining proceeds will be used for general corporate purposes, including potential debt repayment.