ONEOK Announces Completion of Strategic EnLink Midstream Acquisition
ONEOK (NYSE: OKE) has successfully completed its acquisition of EnLink Midstream, as announced on January 31, 2025. The transaction was approved by EnLink unitholders on January 30, 2025. As part of the deal, EnLink unitholders received 0.1412 shares of ONEOK common stock for each outstanding EnLink common unit, and EnLink common units have been delisted from the NYSE.
The strategic acquisition strengthens ONEOK's integrated midstream business platform, which includes a 60,000-mile pipeline network for transporting natural gas, natural gas liquids (NGLs), refined products, and crude oil. EnLink brings additional infrastructure assets in key production basins and demand centers, including the Permian Basin, Louisiana, Oklahoma, and North Texas, along with CO2 transportation capabilities for carbon capture and sequestration (CCS).
ONEOK (NYSE: OKE) ha completato con successo l'acquisizione di EnLink Midstream, come annunciato il 31 gennaio 2025. La transazione è stata approvata dagli azionisti di EnLink il 30 gennaio 2025. Come parte dell'accordo, gli azionisti di EnLink hanno ricevuto 0,1412 azioni ordinarie di ONEOK per ogni unità ordinaria di EnLink in circolazione, e le unità ordinarie di EnLink sono state rimosse dalla quotazione in borsa NYSE.
L'acquisizione strategica rafforza la piattaforma integrata di business midstream di ONEOK, che include una rete di condotte di 60.000 miglia per il trasporto di gas naturale, liquidi di gas naturale (NGL), prodotti raffinati e petrolio greggio. EnLink porta ulteriori asset infrastrutturali in bacini produttivi chiave e centri di domanda, tra cui il Bacino Permiano, Louisiana, Oklahoma e il Texas settentrionale, insieme a capacità di trasporto di CO2 per la cattura e lo stoccaggio del carbonio (CCS).
ONEOK (NYSE: OKE) ha completado con éxito su adquisición de EnLink Midstream, como se anunció el 31 de enero de 2025. La transacción fue aprobada por los titulares de unidades de EnLink el 30 de enero de 2025. Como parte del acuerdo, los titulares de unidades de EnLink recibieron 0.1412 acciones ordinarias de ONEOK por cada unidad ordinaria de EnLink en circulación, y las unidades ordinarias de EnLink han sido deslistadas de la NYSE.
La adquisición estratégica fortalece la plataforma de negocio midstream integrada de ONEOK, que incluye una red de oleoductos de 60,000 millas para transportar gas natural, líquidos de gas natural (NGL), productos refinados y petróleo crudo. EnLink aporta activos de infraestructura adicionales en cuencas de producción clave y centros de demanda, incluyendo la Cuenca Pérmica, Luisiana, Oklahoma y el norte de Texas, junto con capacidades de transporte de CO2 para captura y almacenamiento de carbono (CCS).
ONEOK (NYSE: OKE)는 2025년 1월 31일에 발표된 대로 EnLink Midstream의 인수를 성공적으로 완료했습니다. 이 거래는 2025년 1월 30일 EnLink 단위 보유자에 의해 승인되었습니다. 거래의 일환으로, EnLink 단위 보유자는 유통 중인 EnLink 일반 주식 한 주당 0.1412 주의 ONEOK 보통주를 받았으며, EnLink 일반 주식은 NYSE에서 상장 폐지되었습니다.
이 전략적 인수는 ONEOK의 통합 중간 사업 플랫폼을 강화하며, 여기에는 천연 가스, 천연 가스 액체(NGL), 정제된 제품 및 원유를 운송하는 60,000마일의 파이프라인 네트워크가 포함되어 있습니다. EnLink는 Permian Basin, 루이지애나, 오클라호마 및 북부 텍사스와 같은 주요 생산 분지 및 수요 센터에 추가 인프라 자산을 제공합니다. 또한, 탄소 포집 및 저장(CCS)을 위한 CO2 운송 능력도 가지고 있습니다.
ONEOK (NYSE: OKE) a réussi à finaliser son acquisition de EnLink Midstream, comme annoncé le 31 janvier 2025. La transaction a été approuvée par les détenteurs d'unités d'EnLink le 30 janvier 2025. Dans le cadre de l'accord, les détenteurs d'unités d'EnLink ont reçu 0,1412 actions ordinaires de ONEOK pour chaque unité ordinaire d'EnLink en circulation, et les unités ordinaires d'EnLink ont été retirées de la cotation de la NYSE.
Cette acquisition stratégique renforce la plateforme d'affaires intégrée de ONEOK dans le secteur midstream, qui comprend un réseau de pipelines de 60 000 milles pour le transport de gaz naturel, de liquides de gaz naturel (NGL), de produits raffinés et de pétrole brut. EnLink apporte également des actifs d'infrastructure supplémentaires dans des bassins de production clés et des centres de demande, notamment le Bassin Permien, la Louisiane, l'Oklahoma et le Texas nord, ainsi que des capacités de transport de CO2 pour la capture et le stockage du carbone (CCS).
ONEOK (NYSE: OKE) hat erfolgreich die Übernahme von EnLink Midstream abgeschlossen, wie am 31. Januar 2025 angekündigt. Die Transaktion wurde am 30. Januar 2025 von den EnLink-Unit-Haltern genehmigt. Im Rahmen des Deals erhielten die EnLink-Unit-Halter für jede ausstehende EnLink-Stammaktie 0,1412 Aktien von ONEOK-Ordinary und die EnLink-Stammaktien wurden von der NYSE delistet.
Die strategische Übernahme stärkt die integrierte Midstream-Geschäftsplattform von ONEOK, die ein 60.000 Meilen umfassendes Pipeline-Netzwerk für den Transport von Erdgas, Erdgas Flüssigkeiten (NGL), raffinierten Produkten und Rohöl umfasst. EnLink bringt zusätzliche Infrastrukturvermögen in wichtigen Produktionsbecken und Nachfragezentren mit, darunter das Permian Basin, Louisiana, Oklahoma und Nordtexas, sowie CO2-Transportmöglichkeiten für Kohlenstoffabscheidung und -speicherung (CCS).
- Strategic expansion of ONEOK's midstream infrastructure and service capabilities
- Enhanced presence in key production basins including Permian Basin
- Addition of CO2 transportation and CCS capabilities to service portfolio
- Integration of complementary asset platforms in core demand centers
- Potential share dilution for existing ONEOK shareholders due to stock-based acquisition
Insights
The completion of ONEOK's acquisition of EnLink Midstream marks a transformative development in the midstream energy sector. This strategic consolidation creates a more robust and diversified infrastructure platform with enhanced operational capabilities across multiple key regions.
The transaction's structure is particularly noteworthy for several reasons:
- The all-stock deal structure (0.1412 ONEOK shares per EnLink unit) preserves capital flexibility while providing EnLink unitholders with ownership in a larger, more diversified entity
- The combined network now spans approximately 60,000 miles of pipeline infrastructure, creating significant operational synergies and enhanced market presence in important areas including the Permian Basin, Louisiana, Oklahoma and North Texas
- The acquisition strategically positions ONEOK in the emerging Carbon Capture and Sequestration (CCS) market through EnLink's established CO2 transportation capabilities, providing a competitive advantage in the energy transition landscape
From an operational perspective, the merger creates several strategic advantages:
- Enhanced scale and operational efficiency across natural gas, NGLs, refined products and crude oil segments
- Improved ability to serve diverse customer needs through an expanded geographic footprint and service offering
- Strengthened competitive position in key production basins and demand centers
This consolidation represents a significant step in ONEOK's growth strategy, potentially leading to improved margins through operational synergies and enhanced market presence. The integration of EnLink's assets and expertise should strengthen ONEOK's position as a leading midstream operator while providing additional growth opportunities in both traditional and emerging energy markets.
Transaction Strengthens ONEOK's Integrated Value Chain and Further Diversifies Platform
EnLink unitholders approved the transaction at a special meeting on Jan. 30, 2025.
"The completion of this acquisition further enhances ONEOK's integrated midstream business and provides exceptional value to all stakeholders, including EnLink unitholders who we now welcome as ONEOK shareholders," said Pierce H. Norton II, ONEOK president and chief executive officer.
"We welcome EnLink's employees to the ONEOK team," added Norton. "We look forward to the many benefits this acquisition can provide."
EnLink unitholders, other than ONEOK, received 0.1412 shares of ONEOK common stock for each outstanding EnLink common unit. EnLink common units will no longer be publicly traded on the New York Stock Exchange.
ABOUT ONEOK:
At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest diversified energy infrastructure companies in
ONEOK is an S&P 500 company headquartered in
For information about ONEOK, visit the website: www.oneok.com. For the latest news about ONEOK, find us on LinkedIn, Facebook, X and Instagram.
ABOUT ENLINK MIDSTREAM:
Headquartered in
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING STATEMENTS:
This communication contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements, other than statements of historical fact, included in this communication that address activities, events or developments that ONEOK expects, believes or anticipates will or may occur in the future are forward-looking statements. Words such as "estimate," "project," "predict," "believe," "expect," "anticipate," "potential," "opportunity," "create," "intend," "could," "would," "may," "plan," "will," "guidance," "look," "goal," "target," "future," "build," "focus," "continue," "strive," "allow" or the negative of such terms or other variations thereof and words and terms of similar substance used in connection with any discussion of future plans, actions, or events identify forward-looking statements. However, the absence of these words does not mean that the statements are not forward-looking. These forward-looking statements include, but are not limited to, statements regarding the anticipated benefits of the acquisition. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this communication. These include the risk that ONEOK will not be able to successfully integrate EnLink's business; the risk that cost savings, synergies and growth from the proposed transaction may not be fully realized or may take longer to realize than expected; the risk that the credit ratings following the acquisition may be different from what ONEOK expects; the risk of potential adverse reactions or changes to business or employee relationships, including those resulting from the completion of the acquisition the risk that changes in ONEOK's capital structure could have adverse effects on the market value of its securities; risks related to the ability of the parties to retain customers and retain and hire key personnel and maintain relationships with their suppliers and customers and on each of the companies' operating results and business generally; the risk that the integration process could distract ONEOK's management team from ongoing business operations or cause either of the companies to incur substantial costs; risks related to the impact of any economic downturn and any substantial decline in commodity prices; the risk of changes in governmental regulations or enforcement practices, especially with respect to environmental, health and safety matters; and other important factors that could cause actual results to differ materially from those projected. All such factors are difficult to predict and are beyond ONEOK's control, including those detailed in ONEOK's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that are available on ONEOK's website at www.oneok.com and on the website of the SEC at www.sec.gov, and those detailed in EnLink's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that are available on EnLink's website at www.enlink.com and on the website of the SEC at www.sec.gov. All forward-looking statements are based on assumptions that ONEOK believes to be reasonable but that may not prove to be accurate. Any forward-looking statement speaks only as of the date on which such statement is made, ONEOK undertakes no obligation to correct or update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by applicable law. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof.
Analyst Contact: | Megan Patterson |
918-561-5325 | |
Media Contact: | Alicia Buffer |
918-861-3749 |
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SOURCE Oneok, Inc.
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