ONEOK Completes Sale of Wholly Owned Interstate Natural Gas Pipelines
ONEOK, a major player in the energy industry, recently announced the successful sale of three of its interstate natural gas pipeline systems to DT Midstream for a whopping $1.2 billion. This move reflects ONEOK’s continuous efforts to optimize its asset portfolio strategically and prioritize its capital allocation goals.
Pierce H. Norton II, the president, and CEO of ONEOK, expressed his enthusiasm for this transaction, highlighting DT Midstream’s shared commitment to safety, reliability, and excellence. The sale includes three essential pipeline systems: Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission.
The net proceeds from this sale are anticipated to bolster ONEOK’s financial position and support its target leverage goal set for 2026. This development is just one part of ONEOK’s broader mission to deliver energy products and services that fuel our world’s progress and growth.
With a robust pipeline network spanning over 50,000 miles, ONEOK plays a crucial role in transporting natural gas, natural gas liquids, refined products, and crude oil to meet energy demand at home and abroad. Their commitment to safety, reliability, and responsible energy solutions sets them apart as a leader in North America’s energy landscape.
As ONEOK moves forward, this sale represents a significant step in their ongoing efforts to make a positive impact in the lives of people worldwide. Check out their website for more information and stay up to date with the latest news on LinkedIn, Facebook, and Instagram.
It’s important to note that forward-looking statements like these involve risks and uncertainties. ONEOK cautions investors that actual results may differ from these optimistic projections due to various factors beyond their control. Stay informed by following their financial reports and remember that any investment carries inherent risks.
