ONEOK announced June 17 that it had completed a $280 million acquisition of NGL pipelines from Easton Energy. (Source: Shutterstock)
ONEOK announced June 17 that it had completed a $280 million acquisition of NGL pipelines from Easton Energy.
Through the acquisition, the midstream company added about 450 miles of liquids products pipelines in a center for Texas’ NGL commerce.
ONEOK first announced the deal on May 13 with plans to connect the Easton pipelines to its Mont Belvieu, Texas, NGL infrastructure and Houston-based refined products and crude oil infrastructure.
"The closing of this strategic acquisition provides immediate earnings, expands our natural gas liquids asset portfolio and accelerates ONEOK's ability to capture commercial synergies related to our recent acquisition of Magellan," said Pierce H. Norton II, ONEOK president and CEO. "These new assets offer significant connectivity between critical Gulf Coast supply and demand centers."
Easton plans to continue operating a natural gas liquids and olefins storage business in Markham, Texas.
Recommended Reading
Judgment Call: Ranking the Haynesville Shale’s Top E&P Producers
2025-03-03 - Companies such as Comstock Resources and Expand Energy topped rankings, based on the greatest productivity per lateral foot and other metrics— and depending on who did the scoring.
E&P Highlights: March 10, 2025
2025-03-10 - Here’s a roundup of the latest E&P headlines, from a new discovery by Equinor to several new technology announcements.
E&P Highlights: Feb. 10, 2025
2025-02-10 - Here’s a roundup of the latest E&P headlines, from a Beetaloo well stimulated in Australia to new oil production in China.
SM Energy Marries Wildcatting and Analytics in the Oil Patch
2025-04-01 - As E&P SM Energy explores in Texas and Utah, Herb Vogel’s approach is far from a Hail Mary.
E&P Highlights: April 7, 2025
2025-04-07 - Here’s a roundup of the latest E&P headlines, from BP’s startup of gas production in Trinidad and Tobago to a report on methane intensity in the Permian Basin.
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.