8-KRegulation FDExhibits & Filings

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Jun 4, 2025)

Filed June 4, 2025For Securities:OKE

Summary

ONEOK Inc. (OKE) announced a significant transaction on June 3, 2025, through a Regulation FD disclosure, detailing the acquisition of the remaining 49.9% interest in its joint venture, Delaware G&P LLC. This move consolidates full ownership of the Delaware Basin natural gas gathering and processing assets under ONEOK. The acquisition was made from NGP XI Midstream Holdings, L.L.C. for a total consideration of $940 million. The payment structure involves a combination of cash ($530 million) and ONEOK common stock ($410 million), indicating a balanced approach to funding the transaction and aligning incentives for the seller. This acquisition is expected to enhance ONEOK's midstream infrastructure and operational control in a key production region.

Key Highlights

  • 1ONEOK acquired the remaining 49.9% interest in Delaware G&P LLC.
  • 2The total purchase price for the acquisition is $940 million.
  • 3The transaction was funded through a combination of $530 million in cash and $410 million in ONEOK common stock.
  • 4This acquisition consolidates full ownership of Delaware G&P LLC under ONEOK.
  • 5The deal was disclosed on June 3, 2025, via a Regulation FD announcement.
  • 6A news release dated June 3, 2025, provides further details on the acquisition.

Frequently Asked Questions

The main event is ONEOK Inc.'s acquisition of the remaining 49.9% interest in its joint venture, Delaware G&P LLC, from NGP XI Midstream Holdings, L.L.C.

ONEOK paid a total of $940 million for the acquisition.

The $940 million payment was split into $530 million in cash and $410 million in ONEOK's common stock.

This acquisition allows ONEOK to consolidate full ownership of its Delaware Basin natural gas gathering and processing assets, likely enhancing operational control and strategic flexibility in a significant production area.