The deal expands ONEOK’s assets in the Permian Basin to strengthens its NGL position and was one of the largest midstream M&A deals of 2024. (Source: Shutterstock/ ONEOK Inc.)
ONEOK Inc. completed its takeover of EnLink Midstream on Jan. 31 following approval from EnLink unitholders of the transaction on Jan. 30 at a special meeting.
ONEOK had agreed to acquire the remaining stake in EnLink in November 2024 for $4.3 billion after having closed on a $3.3 billion deal for Global Infrastructure Partners’ controlling interest a month prior.
The deal expands ONEOK’s assets in the Permian Basin to strengthens its NGL position and was one of the largest midstream M&A deals of 2024.
EnLink unitholders, other than ONEOK, received approximately 0.14 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.
Recommended Reading
E&P Highlights: Jan. 27, 2025
2025-01-27 - Here’s a roundup of the latest E&P headlines including new drilling in the eastern Mediterranean and new contracts in Australia.
DNO Makes Another Norwegian North Sea Discovery
2024-12-17 - DNO ASA estimated gross recoverable resources in the range of 2 million to 13 million barrels of oil equivalent at its discovery on the Ringand prospect in the North Sea.
Wildcatting is Back: The New Lower 48 Oil Plays
2024-12-15 - Operators wanting to grow oil inventory organically are finding promising potential as modern drilling and completion costs have dropped while adding inventory via M&A is increasingly costly.
DNO Discovers Oil in New Play Offshore Norway
2024-12-02 - DNO ASA estimated gross recoverable resources in the range of 27 MMboe to 57 MMboe.
Freshly Public New Era Touts Net-Zero NatGas Permian Data Centers
2024-12-11 - New Era Helium and Sharon AI have signed a letter of intent for a joint venture to develop and operate a 250-megawatt data center 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.