ONEOK Inks $5.9B Deal With GIP to Expand Permian Presence
OKEONEOK(OKE) ZACKS·2024-08-31 01:50

ONEOK, Inc. (OKE) has announced a significant move to expand its presence in the Permian and Mid-Continent basins by acquiring midstream assets worth 5.9billionfromGlobalInfrastructurePartners(GIP)intwodeals. ThisstrategicacquisitionwillfurtherstrengthenONEOKspositionintheU.S.productionpipelineandstorageindustry.ONEOKsStrategicInvestmentsONEOKsacquisitionsincludeGIPs435.9 billion from Global Infrastructure Partners (“GIP”) in two deals. This strategic acquisition will further strengthen ONEOK’s position in the U.S. production pipeline and storage industry.ONEOK’s Strategic InvestmentsONEOK’s acquisitions include GIP's 43% stake in EnLink Midstream (“ENLC”) for 14.90 per unit and full interest in EnLink's managing member, ...