ONEOK said it completed the Delaware Basin JV Acquisition on May 28, 2025 for $927 million, paying $536 million in cash and issuing approximately 4.9 million shares of ONEOK common stock with a fair value of $391 million as of the closing date. In the EnLink Acquisition completed on January 31, the company issued 41 million shares of common stock with a fair value of $4.0 billion as of the closing date.

1. 01

   ONEOK said it completed the Delaware Basin JV Acquisition on May 28, 2025 for $927 million, paying $536 million in cash and issuing approximately 4.9 million shares of ONEOK common stock with a fair value of $391 million as of the closing date. In the EnLink Acquisition completed on January 31, the company issued 41 million shares of common stock with a fair value of $4.0 billion as of the closing date.

2. 02

   ONEOK said operating income for the 3 months ended June 30, 2025 increased $202 million compared with the same period in the prior year. The Natural Gas Gathering and Processing segment increased $116 million, and the company cited adjusted EBITDA from EnLink as a primary factor in this increase.

3. 03

   ONEOK said in June 2025 it repaid the remaining $422 million of its $750 million 4.15% senior notes at maturity with short-term borrowings. As of June 30, the company had no borrowings under its $3.5 Billion Credit Agreement, and working capital, defined as current assets less current liabilities, was a deficit of $2.8 billion.

4. 04

   ONEOK said it paid a quarterly common stock dividend of $1.03 per share ($4.12 on an annualized basis) in February 2025 and May, an increase of 4% compared with the same quarters in the prior year. For the 6 months ended June 30, 2025, the company said operating cash flows exceeded dividend payments by $1.1 billion.

Key figures

Quarter ended June 30, 2025

Revenue

$7.9B

Operating income

$1.4B

Net income

$841M

EPS

$1.34

Analysis scope · Management's discussion (MD&A)We analyzed excerpts of the Management's Discussion and Analysis (MD&A) section (with omissions). Other sections of the report, such as the notes to the financial statements and risk factors, were not reviewed.

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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