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ONEOK completes acquisition of controlling interest in EnLink Midstream, LLC from Global Infrastructure Partners

Oct 15, 2024•about 1 year ago

Acquiring Company

ONEOK

Acquired Company

EnLink Midstream

TulsaDallasOil And GasEnergy

Description

ONEOK, Inc. has successfully closed the acquisition of Global Infrastructure Partners' entire interest in EnLink Midstream, LLC for approximately $3.3 billion. This acquisition expands and extends ONEOK's asset positions in the Permian Basin, Mid-Continent, North Texas, and Louisiana, and enhances the company's service offerings and value for stakeholders by strategically adding another meaningful platform to ONEOK's businesses.

Company Information

Company

ONEOK

Location

Tulsa, Oklahoma, United States

About

ONEOK delivers energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation and storage services. Through our more than 50,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest diversified energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world.

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M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed