ONEOK Partners LP (NYSE: OKS) opened a public offering of 11 million common units that represented limited partner interests, the company said May 12.
Net proceeds will support general partnership purposes and also will repay outstanding amounts under the commercial paper program, ONEOK Partners added.
An underwriters’ monthlong option to purchase an additional 1.65 million units might be granted, the company said. ONEOK will have 244.1 million units outstanding after the offer closes, the company said. This amount will include 171.1 common units and 73 million class B units, the company noted. Between ONEOK Partners and its subsidiary—the sole general partner—the aggregate ownership interest will be about 39.3%, the company added.
BofA Merrill Lynch, Barclays, Morgan Stanley (NYSE: MS), UBS Investment Bank, Wells Fargo Securities LLC, Citigroup Inc. (NYSE: C), Deutsche Bank Securities Inc., Goldman, Sachs & Co. (NYSE: GS), J.P. Morgan and
RBC Capital Markets are joint book-running managers, ONEOK Partners said.
Tulsa, Oklahoma-based ONEOK Partners LP is an MLP that focuses on domestic natural gas and NGL.
Recommended Reading
Keeping it Simple: Antero Stays on Profitable Course in 1Q
2024-04-26 - Bucking trend, Antero Resources posted a slight increase in natural gas production as other companies curtailed production.
Oil and Gas Chain Reaction: E&P M&A Begets OFS Consolidation
2024-04-26 - Record-breaking E&P consolidation is rippling into oilfield services, with much more M&A on the way.
Exxon Mobil, Chevron See Profits Fall in 1Q Earnings
2024-04-26 - Chevron and Exxon Mobil are feeling the pinch of weak energy prices, particularly natural gas, and fuels margins that have cooled in the last year.
Marathon Oil Declares 1Q Dividend
2024-04-26 - Marathon Oil’s first quarter 2024 dividend is payable on June 10.
Talos Energy Expands Leadership Team After $1.29B QuarterNorth Deal
2024-04-25 - Talos Energy President and CEO Tim Duncan said the company has expanded its leadership team as the company integrates its QuarterNorth Energy acquisition.