ONEOK Expands Permian Basin Presence with $5.9 Billion EnLink and Medallion Acquisitions

ONEOK announced two acquisitions totaling $5.9 billion from GIP, expanding its footprint in key energy regions. The deals include purchasing a 43% stake in EnLink Midstream and full ownership of its managing member for $3.3 billion, and acquiring Medallion Midstream, a Permian Basin-focused company, for $2.6 billion. These acquisitions, financed with secured commitments, are projected to immediately enhance ONEOK`s earnings and cash flow, enabling share repurchases and generating significant synergies within three years.