Welcome to our dedicated page for Oneok news (Ticker: OKE), a resource for investors and traders seeking the latest updates and insights on Oneok stock.
ONEOK, Inc. (NYSE: OKE) is an S&P 500 midstream energy operator in the natural gas distribution industry, headquartered in Tulsa, Oklahoma. This news page aggregates company-specific updates, allowing readers to follow how ONEOK manages and expands its natural gas, natural gas liquids (NGLs), refined products and crude oil operations across its extensive pipeline and facility network.
News about ONEOK commonly includes announcements of quarterly and annual earnings, financial guidance updates and details on segment performance across natural gas liquids, refined products and crude, natural gas gathering and processing, and natural gas pipelines. The company also issues news releases about investor conference participation, earnings conference calls and webcasts, and dividend declarations.
Operational and project-related news can cover topics such as new processing plants, long-haul pipeline joint ventures, capacity expansions and updates on facilities like fractionation complexes. ONEOK has also reported on incidents at its facilities, along with subsequent operational responses and safety information, providing insight into how it manages its infrastructure.
For investors and observers of the utilities and midstream energy space, ONEOK’s news flow offers a view into how the company approaches growth projects, financing activities, acquisitions and integration efforts, as well as how volumes and market conditions affect its system. This page brings together these updates so readers can monitor developments related to OKE over time.
ONEOK (NYSE: OKE) has announced two key executive leadership appointments, effective immediately. Randy N. Lentz, former CEO of Medallion Midstream, has been appointed as Executive Vice President and Chief Operating Officer, overseeing all asset operations. Sheridan C. Swords, previously Executive Vice President of commercial liquids and natural gas gathering and processing, has been promoted to Executive Vice President and Chief Commercial Officer, with expanded oversight including the Natural Gas Pipelines segment.
Both executives will report directly to Pierce H. Norton II, President and CEO. ONEOK operates as 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 across North America.
ONEOK (NYSE: OKE) has completed the sale of its three wholly owned interstate natural gas pipeline systems to DT Midstream for $1.2 billion in cash. The transaction, which closed on December 31, 2024, includes the Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission systems.
The sale aligns with ONEOK's strategic portfolio optimization and capital allocation priorities. The company plans to use the net proceeds to enhance its financial flexibility as it works toward achieving its leverage target of 3.5 times during 2026. Employees associated with these pipeline systems will transition to DT Midstream and will be instrumental in establishing the company's new Tulsa office.
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 its participation in an upcoming investor conference, featuring a fireside chat session scheduled for Tuesday, Dec. 10, at 11 a.m. Eastern Time. The session will be accessible via live webcast on ONEOK's website, with replay options available.
As a leading midstream operator, ONEOK manages a extensive 50,000-mile pipeline network, providing important services including gathering, processing, fractionation, transportation, and storage. The company plays a vital role in meeting domestic and international energy demands through the transportation of natural gas, natural gas liquids (NGLs), refined products, and crude oil. As an S&P 500 company based in Tulsa, Oklahoma, ONEOK stands as one of North America's largest diversified energy infrastructure companies.
ONEOK (NYSE: OKE) has announced the completion of two major NGL infrastructure projects. The first is MB-6, a 125,000-barrel per day NGL fractionator in Mont Belvieu, Texas, which increases the company's total fractionation capacity to over 1 million bpd. The second project is the full looping of the West Texas NGL Pipeline system, expanding capacity to 515,000 bpd, with further expansion to 740,000 bpd expected by mid-2025 through additional pump stations.
These strategic expansions enhance ONEOK's ability to serve growing NGL market demand while reducing dependency on third-party fractionation services. The company operates a 50,000-mile pipeline network for transporting natural gas, NGLs, refined products, and crude oil across North America.
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.
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.