ONEOK said on May 13, 2024 that it agreed to acquire a system of natural gas liquids (NGL) pipelines from Easton Energy, a Houston-based midstream company, for approximately $280 million. The purchase price is subject to customary adjustments.

1. 01

   ONEOK said on May 13, 2024 that it agreed to acquire a system of natural gas liquids (NGL) pipelines from Easton Energy, a Houston-based midstream company, for approximately $280 million. The purchase price is subject to customary adjustments.

2. 02

   The company said the deal includes approximately 450 miles of NGL pipelines located in Gulf Coast market centers for NGLs, refined products and crude oil. It said the pipelines transport a range of liquids products for existing customers through a portion of their capacity.

3. 03

   ONEOK plans to connect the acquired pipelines to its NGL infrastructure in Mont Belvieu and its refined products and crude oil infrastructure in Houston, the company said. Quoting President and Chief Executive Officer Pierce H. Norton II, the company said it expects the acquisition to accelerate commercial synergies from the Magellan acquisition.

4. 04

   The company said it expects to close the transaction in mid-2024. Closing is subject to customary conditions, including the termination or expiration of waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

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