ONEOK Expands Midstream Assets with EnLink Acquisition

The latest update is out from Oneok ( (OKE) ).

ONEOK, Inc. has successfully acquired a controlling interest in EnLink Midstream, LLC from Global Infrastructure Partners for around $3.3 billion, marking a significant expansion of ONEOK’s midstream assets across key U.S. production basins. This acquisition enhances ONEOK’s strategic asset positions and is expected to bring greater value and service offerings to shareholders and stakeholders. The integrated asset base is anticipated to provide synergies, reduce leverage, and offer EnLink unitholders access to ONEOK’s stock, known for its liquidity and dividend yield.

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