DT Midstream will finance the transaction with $900 million in debt and about $300 million in equity, the company said when the deal was initially announced in November. (Source: Shutterstock/ ONEOK)
DT Midstream (DTM) has closed its $1.2 billion acquisition of three natural gas pipelines from ONEOK Inc.
DT Midstream acquired full ownership of the Guardian Pipeline, Midwestern Gas Transmission and Viking Gas Transmission, the company said Dec. 31. The acquired pipelines have a total capacity of more than 3.7 Bcf/d and span approximately 1,300 miles across seven states in the Midwest.
“The bolt-on acquisition of these premier pipelines is fully aligned with our pure play natural gas strategy,” said David Slater, DT Midstream president and CEO. “This acquisition also increases the revenue contribution from our pipeline segment, supported by take-or-pay contracts with strong credit quality utility customers.”
ONEOK has said the sale would allow the company to focus on growing its operations in other areas, such as Texas and Colorado.
DT Midstream will finance the transaction with $900 million in debt and about $300 million in equity, the company said when the deal was initially announced in November.
Recommended Reading
Energy Spectrum, UGI JV Buys Three Appalachia Gathering Systems
2025-01-28 - Pine Run Gathering LLC, a joint venture between Energy Spectrum Partners and UGI Corp., purchased three gathering systems in Pennsylvania from Superior Midstream Appalachian LLC.
Ovintiv Closes $2B Uinta Sale to FourPoint Resources
2025-01-22 - Ovintiv is exiting Utah’s Uinta Basin in a $2 billion sale to FourPoint Resources, which will take over some of the play’s highest quality acreage.
Civitas Makes $300MM Midland Bolt-On, Plans to Sell D-J Assets
2025-02-25 - Civitas Resources is adding Midland Basin production and drilling locations for $300 million. To offset the purchase price, Civitas set a $300 million divestiture target “likely to come” from Colorado’s D-J Basin, executives said.
‘We’re Not Going Anywhere’: Sabine CEO on Haynesville Growth, M&A Talks
2025-04-01 - Sabine Oil & Gas CEO Carl Isaac shares insight into the company’s addition of a fourth Haynesville rig and future development plans in the play, in this Hart Energy Exclusive interview.
Major Interest: Chevron, Shell Join Vaca Muerta Crude Pipe Project
2025-01-20 - Oil producers are pumping record levels from Argentina’s Vaca Muerta shale. Chevron and Shell have backed a new crude pipeline project that aims to boost takeaway capacity—and exports—of Vaca Muerta oil.
Comments
Add new comment
This conversation is moderated according to Hart Energy community rules. Please read the rules before joining the discussion. If you’re experiencing any technical problems, please contact our customer care team.