AI English summary of an SEC filing — figures as filed
ONEOK OKEONEOK said that, under the Purchase Agreement dated as of October 31, 2024, it acquired all of the issued and outstanding limited partner interests in Medallion and became its general partner, and that total consideration for the Purchased Interests was approximately $2.4 billion in cash.
Key points
AI summaryONEOK said that, under the Purchase Agreement dated as of October 31, 2024, it acquired all of the issued and outstanding limited partner interests in Medallion and became its general partner, and that total consideration for the Purchased Interests was approximately $2.4 billion in cash.
The company said the DoublePoint Group exercised its right to require ONEOK to buy the remaining 60.0% of the membership interests in Medallion Midland Partners, LLC, and that this acquisition was completed concurrently with the Medallion Transaction for total cash consideration of approximately $170 million.
In a press release, the company said it completed the acquisition of Medallion Midstream from Global Infrastructure Partners for total cash consideration of approximately $2.6 billion. It described Medallion as the largest privately held crude gathering and transportation system in the Permian Basin's Midland Basin.
The company said the Medallion acquisition includes more than 1,200 miles of crude oil gathering pipelines, approximately 1.3 million barrels per day of capacity and approximately 1.5 million barrels of crude oil storage in the Permian Basin.
Summary
AI-writtenAnalysis 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.
Medallion Transaction Completed for About $2.4 billion in Cash
ONEOK said that, under the Purchase Agreement dated as of October 31, 2024, it acquired all of the issued and outstanding limited partner interests in Medallion and became its general partner, and that total consideration for the Purchased Interests was approximately $2.4 billion in cash.
Source · Based on the filing body and exhibits
Acquires Remaining 60.0% of DoublePoint Interests
The company said the DoublePoint Group exercised its right to require ONEOK to buy the remaining 60.0% of the membership interests in Medallion Midland Partners, LLC, and that this acquisition was completed concurrently with the Medallion Transaction for total cash consideration of approximately $170 million.
Source · Based on the filing body and exhibits
Press Release Cites About $2.6 billion in Cash for Medallion Acquisition
In a press release, the company said it completed the acquisition of Medallion Midstream from Global Infrastructure Partners for total cash consideration of approximately $2.6 billion. It described Medallion as the largest privately held crude gathering and transportation system in the Permian Basin's Midland Basin.
Source · Based on the filing body and exhibits
Acquired Assets: Pipelines, Processing Capacity and Storage
The company said the Medallion acquisition includes more than 1,200 miles of crude oil gathering pipelines, approximately 1.3 million barrels per day of capacity and approximately 1.5 million barrels of crude oil storage in the Permian Basin.
Source · Based on the filing body and exhibits
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
The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.
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