
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
Small Steps: The Continuous Journey of Drilling Automation
2024-12-26 - Incremental improvements in drilling technology lead to significant advancements.
Exclusive: Novi Labs’ Ludwig on AI Preventing Costly Drilling Mistakes
2024-12-12 - Novi Labs President and Co-Founder Jon Ludwig gives insight on how AI and machine learning allow diverse applications for oil and gas operations and less risk for cataclysmic failure, in this Hart Energy Exclusive interview.
Momentum AI’s Neural Networks Find the Signal in All That Drilling Noise
2025-02-11 - Oklahoma-based Momentum AI says its model helps drillers avoid fracture-driven interactions.
Halliburton Sees Strong Adoption of New Oilfield Tech Offerings
2025-01-22 - Halliburton Co.’s Zeus e-fracs, Octiv auto-fracs and the Sensori monitoring platform are setting the stage for long-term growth, CEO Jeff Miller says.
AI-Shale Synergy: Experts Detail Transformational Ops Improvements
2025-01-17 - An abundance of data enables automation that saves time, cuts waste, speeds decision-making and sweetens the bottom line. Of course, there are challenges.
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.