OKE · ONEOK INC /NEW/

1080 filings

OKE SEC Filings

ONEOK INC /NEW/ - 1080 total filings

Filing record · 2016–202610-K1110-Q328-K365

Showing 1–50 of 1080 filings

ONEOK INC /NEW/ 8-K Report, Material Agreement (Sep 15, 2026)

ONEOK, Inc. (NYSE: OKE) filed an 8-K reporting three developments tied to its debt management and equity financing program. First, on September 15, 2026, ONEOK, L.L.C. ("OpCo") set pricing and reported early results for cash tender offers covering 20 series of its senior notes, with an aggregate maximum tender amount of $2 billion. Holders tendered more than the cap at the September 14, 2026 Early Tender Deadline, so OpCo expects to accept $2 billion principal and does not expect to accept any tenders made after that deadline. Settlement is expected September 17, 2026. Early Tender Consideration per $1,000 principal ranged from roughly $707 to $955, based on Treasury yields plus fixed spreads of 30 to 120 basis points, with a $50 early tender premium applying to later tenders. Second, the company amended its $1 billion at-the-market equity distribution agreement with BofA Securities and Bank of America, N.A. The amendment, dated September 15, 2026, moves Legacy ONEOK's obligations to the successor parent, ONEOK, Inc., an Oklahoma corporation, following a reorganization. The amendment updates defined terms and corporate references, and the filing does not disclose any new share issuance. Taken together, the filing shows ONEOK actively managing its capital structure through a sizable liability-management transaction and reorganizing its corporate structure, with ONEOK, Inc. now serving as parent guarantor of OpCo's notes. The filing itself does not disclose the company's leverage, earnings, or the expected effect on interest expense, so those points require the 10-Q or the Offer to Purchase.

Sep 15, 2026 8-K

ONEOK INC /NEW/ 8-K Report, Material Agreement (Aug 31, 2026)

ONEOK (OKE) filed an 8-K on August 31, 2026 disclosing three linked transactions announced August 30, 2026: a $9 billion nonvoting minority equity investment from Apollo-affiliated funds, a $4.425 billion cash acquisition of Brazos Midland's Permian Midland Basin gathering and processing assets, and a roughly $5 billion debt reduction program funded by the Apollo proceeds. Under the Contribution Agreement dated August 28, 2026, Apollo's affiliate contributes $9 billion for Class B units in a new holding company, ONEOK Holdings, L.L.C., which holds ONEOK, L.L.C. (OpCo). The Class B investor receives 15% of OpCo cash flow from operations during the Initial Period (rising to 20% at ONEOK's option or if leverage exceeds 4.50x), with its return capped at a 7.0% IRR for the first nine years. Distributions above that cap reduce the investor's capital balance, and value above the cap accrues to ONEOK common shareholders. Management says the transactions reduce pro forma 2027 debt-to-EBITDA to about 3.25x without issuing common equity, and they support potential dividend increases and buybacks. The Brazos acquisition implies about 7.5x estimated 2027 EBITDA including roughly $80 million of synergies, and about 6.0x estimated 2028 EBITDA. The company expects it to be immediately accretive to earnings and free cash flow per share, and to close in Q4 2026 subject to HSR clearance. The minority investment is expected to close in the first half of September 2026. The filing also describes a tender offer for up to $2 billion of 20 series of senior notes, with an early tender deadline of September 14, 2026 and an expiration of September 29, 2026, along with a reorganization that converts ONEOK into a subsidiary of a new holding company, Falcon TopCo, renamed ONEOK, Inc. Investors should weigh the accretion and deleveraging benefits against the structural complexity of the Apollo instrument. The Class B interest is structurally subordinate to all ONEOK senior debt, carries no liquidation preference, and imposes a distribution trigger that restricts ordinary shareholder dividends and buybacks while the investment is outstanding. Its economics also depend on distribution levels that the board controls, and the cap is set below the company's cost of public equity. The filing and accompanying press release contain extensive forward-looking statements, and the representations and warranties in the Contribution Agreement are qualified and should not be relied on as statements of fact.

Aug 31, 2026 10-Q

ONEOK INC /NEW/ Quarterly Report for Q2 Ended Jun 30, 2026

ONEOK, Inc. reported solid financial results for the six months ended June 30, 2026, with total revenues reaching $21.7 billion, a significant increase from $15.9 billion in the prior year period. Net income attributable to ONEOK also saw a substantial rise to $1.74 billion, up from $1.48 billion year-over-year, reflecting strong operational performance across its segments. The company's fee-based business model, which comprises approximately 90% of its expected 2026 earnings, provides a degree of stability against commodity price volatility, supported by long-term contracts with investment-grade counterparties. The company continues to invest in strategic capital projects, including expansions in its Natural Gas Gathering and Processing, Natural Gas Liquids, and Natural Gas Pipelines segments, aimed at enhancing its midstream infrastructure and service offerings. Liquidity remains robust, supported by operating cash flows, a significant revolving credit facility, and a commercial paper program, enabling the company to fund operations, capital expenditures, and a growing dividend.

Aug 4, 2026 8-K

ONEOK INC /NEW/ 8-K Report, Acquisition Completed (Aug 3, 2026)

ONEOK (OKE) reported higher second-quarter 2026 results on August 3, 2026, with net income up 13% to $967 million ($1.53 per diluted share) and adjusted EBITDA up 7% to $2.12 billion versus the prior-year quarter. Growth was led by record NGL raw feed throughput (up 7%, including a 15% increase in the Gulf Coast/Permian region), an 8% increase in refined products volumes shipped, and stronger optimization and marketing activity, particularly favorable Waha-to-Katy price differentials in Natural Gas Pipelines. Segment results were mixed: Natural Gas Pipelines and Refined Products and Crude improved sharply, while NGL adjusted EBITDA slipped 2% and Natural Gas Gathering and Processing was roughly flat for the quarter. Management raised 2026 guidance for the second time this year, moving the midpoints to $3.6 billion of net income, $5.68 of diluted EPS and $8.35 billion of adjusted EBITDA (ranges of $3.41–$3.79 billion and $8.2–$8.5 billion). Capital expenditure guidance was held at $2.7–$3.2 billion. The company declared a quarterly dividend of $1.07 per share ($4.28 annualized), and the Greater Denver refined products pipeline expansion reached mechanical completion in early August 2026. Balance-sheet and cash-flow data show total debt of roughly $33 billion at June 30, 2026 (including $1.5 billion of short-term borrowings), operating cash flow of $2.99 billion for the first six months, and dividends paid of $1.35 billion, which exceeded operating cash flow after capital spending. The results also include a $60 million noncash impairment of a Refined Products and Crude joint-venture investment in the first half. Investors should note that the first-half increase in net income partly reflects commodity marketing gains that can be volatile.

Aug 3, 2026 8-K

ONEOK INC /NEW/ 8-K Report, Shareholder Vote Results (May 21, 2026)

ONEOK, Inc. (OKE) filed this Form 8-K under Item 5.07 to report the final results of its Annual Meeting of Shareholders, held May 20, 2026. The filing covers only shareholder voting outcomes. It contains no financial results, guidance, or transaction disclosures, so it does not change the company's reported financial position. All three proposals were approved. Shareholders elected all ten director nominees to one-year terms expiring at the 2027 annual meeting, ratified PricewaterhouseCoopers LLP as the independent auditor for fiscal 2026, and approved the advisory (non-binding) say-on-pay resolution on executive compensation. Support was strongest for the auditor ratification, at about 98.6% of votes cast. Director support ranged from roughly 93.6% to 97.9% of votes cast, and say-on-pay received about 94.2%. For investors, the most notable detail is the level of dissent on compensation and board composition. Roughly 5% of votes cast opposed the say-on-pay proposal, and Randall J. Larson drew the weakest director support, with about 5.6% of votes cast against him and about 0.7% abstaining. These results are generally favorable and indicate broad shareholder approval, but they are worth monitoring alongside the proxy statement for any governance or compensation concerns.

May 21, 2026 10-Q

ONEOK INC /NEW/ Quarterly Report for Q1 Ended Mar 31, 2026

ONEOK, Inc. reported a strong first quarter for 2026, demonstrating significant revenue growth driven by increased commodity sales and services. The company's net income and diluted Earnings Per Share (EPS) saw a notable increase compared to the prior year, reflecting improved operational performance across its segments, particularly in Natural Gas Pipelines and Natural Gas Liquids. This growth was supported by higher optimization and marketing activities, increased volumes, and strategic capital project execution. The company also maintained a healthy Adjusted EBITDA, underscoring its operational efficiency and profitability. ONEOK continues to invest in strategic capital projects to expand its infrastructure, with significant expenditures noted in the Natural Gas Gathering and Processing and Natural Gas Liquids segments. The company's financial position remains robust, supported by strong operating cash flows and adequate liquidity. The company also highlighted its commitment to returning capital to shareholders through consistent dividend payments, which were increased year-over-year. Despite market volatility and geopolitical factors influencing commodity prices, ONEOK's predominantly fee-based revenue model and diverse asset base position it favorably for continued performance.

Apr 29, 2026 8-K

ONEOK INC /NEW/ 8-K Report, Financial Results (Apr 28, 2026)

ONEOK (NYSE: OKE) reported first-quarter 2026 net income of $776 million, up 12% from $691 million a year earlier, or $1.23 per diluted share versus $1.04. Adjusted EBITDA rose 13% to $2.0 billion ($1,997 million vs. $1,775 million). Results were driven by higher NGL raw feed throughput (up 15%), refined products volumes (up 12%), and natural gas processed volumes (up 5%). The Natural Gas Pipelines segment was the standout, with adjusted EBITDA up 60% to $339 million, aided by $70 million of favorable Waha-to-Katy price differentials and $19 million from Winter Storm Fern. Natural Gas Gathering and Processing was the weak spot, with adjusted EBITDA down 5% to $467 million on lower realized NGL and natural gas prices. Quarterly results also absorbed a $60 million noncash impairment on a Refined Products and Crude joint-venture investment, which reduced EPS by about 7 cents. Management raised 2026 guidance, citing a more constructive market environment beginning late in the first quarter. Net income guidance rose to $3.21 billion to $3.79 billion (midpoint $3.5 billion, or $5.53 per diluted share), and adjusted EBITDA guidance rose to $8.0 billion to $8.5 billion (midpoint $8.25 billion). Capital expenditure guidance was unchanged at roughly $2.7 billion to $3.2 billion. Balance sheet activity included short-term borrowings rising to $1.6 billion from $820 million, a $1.2 billion term loan in April, and redemption of $491 million of 4.85% senior notes due July 2026. The company also declared a quarterly dividend of $1.07 per share ($4.28 annualized). Investors should note that first-quarter operating cash flow of $934 million did not fully cover capital expenditures of $864 million plus dividends of $674 million, so the funding gap was bridged with short-term borrowings. The quarter's strength was partly tied to market-driven factors such as price differentials and winter weather, which may not recur evenly. Guidance raises rest on the company's view of the second half of the year, so investors may want to watch how volumes and commodity-linked earnings hold up against those assumptions in upcoming quarters.

Apr 28, 2026 8-K

ONEOK INC /NEW/ 8-K Report, Executive Changes (Mar 25, 2026)

ONEOK, Inc. (NYSE: OKE) filed an 8-K on March 25, 2026 to disclose board transitions. Two long-serving directors, Gerald B. Smith and Pattye L. Moore, will not stand for re-election and will leave the Board when their terms expire at the 2026 Annual Meeting of Shareholders, scheduled for May 20, 2026. Smith is retiring under the company's mandatory director retirement age policy, which requires retirement no later than the annual meeting following a director's 75th birthday. Moore elected to retire, and the company states that her decision reflects no disagreement with ONEOK on any matter relating to its operations, policies or practices. The company also states that Smith's departure is not the result of any disagreement. The filing is governance-related and contains no financial results, guidance, or material operational disclosures. It does not describe any replacement director nominees or changes to committee leadership, so investors should not expect immediate changes to the board's composition beyond these two departures. Board chair Julie H. Edwards and CEO Pierce H. Norton II praised the directors' contributions during ONEOK's period of significant transformation. For investors, this is a routine, low-impact event. The main items to monitor are whether ONEOK names successor directors in its 2026 proxy statement and whether the board's size or skills mix shifts as a result. Smith has served since 2020 and Moore since 2002, so the departure of Moore in particular represents the loss of a long-tenured board member.

Mar 25, 2026 10-K

ONEOK INC /NEW/ Annual Report, Year Ended Dec 31, 2025

ONEOK, Inc. (OKE) demonstrated robust performance in the fiscal year ending December 31, 2025, driven by significant acquisitions and strong operational execution across its four reportable segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude. The company successfully integrated the EnLink and Medallion acquisitions, contributing to a full year of earnings from these operations and bolstering overall financial results. Approximately 90% of ONEOK's consolidated earnings were fee-based, providing a stable revenue stream largely insulated from direct commodity price volatility. Capital allocation remained focused on prudent financial strength, with a dividend increase and ongoing share repurchases. ONEOK also continues to prioritize safety, environmental responsibility, and employee engagement as core components of its business strategy.

Feb 24, 2026 8-K

ONEOK INC /NEW/ 8-K Report, Financial Results (Feb 23, 2026)

ONEOK (OKE) reported fourth-quarter and full-year 2025 results that showed strong growth, driven mainly by the EnLink and Medallion acquisitions. Full-year net income attributable to ONEOK rose 12% to $3.39 billion, or $5.42 per diluted share, and adjusted EBITDA rose 18% to $8.02 billion ($8.085 billion excluding $65 million of transaction costs). Fourth-quarter results were flatter: net income was $978 million ($1.55 per diluted share, versus $1.57 a year earlier, which included a 2024 nonstrategic divestiture gain), and adjusted EBITDA was $2.145 billion, down 1% from $2.174 billion. Management cited $475 million of cumulative acquisition synergies through year-end 2025, roughly 90% fee-based earnings, and a 3.8x annualized run-rate net debt-to-EBITDA ratio. The company also raised its quarterly dividend 4% to $1.07 per share. For 2026, ONEOK guided to net income of $3.19 billion to $3.71 billion (midpoint $3.45 billion), diluted EPS of $5.04 to $5.87 (midpoint $5.45), and adjusted EBITDA of $7.9 billion to $8.3 billion (midpoint $8.1 billion). Against 2025 actuals, the midpoint implies only about 1% adjusted EBITDA growth, and EPS growth of roughly 1%, because the 2025 base already includes a full year of acquired earnings and management expects a moderation in producer activity at a WTI assumption of $55 to $60 per barrel. Total 2026 capital expenditures are guided to $2.7 billion to $3.2 billion, roughly flat with 2025's $3.15 billion. Growth is expected from full-year acquisition contributions, Permian and Mid-Continent processing projects, the Denver-area refined products expansion, and about $150 million of incremental synergies. For investors, the key question is whether the post-acquisition integration and project completions (such as the Eiger Express expansion to 3.7 Bcf/d) can turn into sustained earnings growth beyond 2026 as acquisition-driven comparisons fade. Leverage, dividend growth, and the pace of synergy capture will be the main indicators to watch.

Feb 23, 2026 8-K

ONEOK INC /NEW/ 8-K Report, Executive Changes (Jan 26, 2026)

ONEOK, Inc. (NYSE: OKE) filed an 8-K on January 26, 2026 to disclose that its board elected two new independent directors, Mark A. McCollum and Precious Williams Owodunni, effective January 23, 2026. The board expanded from 10 to 12 members to accommodate them. The filing is a governance update rather than a financial disclosure: it contains no earnings, guidance, transaction, or financial results information. Mark A. McCollum, 66, brings substantial energy-sector and financial leadership experience, including former roles as CEO of Weatherford International, CFO of Halliburton, and CFO of Tenneco. He will sit on the Audit Committee and Corporate Governance Committee, which strengthens the board's financial oversight capabilities. Precious Williams Owodunni, 50, is CEO of Mountaintop Consulting and a former Goldman Sachs private equity vice president, with expertise in talent development, strategy, and governance. She will join the Executive Compensation and Corporate Governance Committees. For investors, the appointments signal board refreshment and added energy-industry and financial expertise, which is generally viewed as a modest positive for governance. Neither director has disclosed related-party transactions with ONEOK under Item 404(a) of Regulation S-K, and both were determined to be independent under NYSE rules. Director compensation will be prorated through April 2026 under the non-management director program described in the 2025 proxy statement.

Jan 26, 2026 10-Q

ONEOK INC /NEW/ Quarterly Report for Q3 Ended Sep 30, 2025

ONEOK, Inc. reported a strong third quarter and first nine months of 2025, driven by significant acquisitions and continued operational strength across its segments. Total revenues for the quarter and year-to-date saw substantial increases compared to the prior year, reflecting the integration of EnLink and Medallion Midstream. The company's strategic focus on fee-based contracts with strong counterparties continues to provide a stable revenue stream, with approximately 90% of consolidated earnings expected to be fee-based for 2025. Financially, ONEOK demonstrated robust profitability, with net income attributable to ONEOK increasing significantly year-over-year for both the quarter and nine-month periods. Diluted Earnings Per Share (EPS) also saw healthy growth, reflecting improved operational performance and successful acquisitions. The company maintained a strong liquidity position with substantial cash and cash equivalents and an undrawn credit facility, further supported by recent debt issuances which were partly used to manage existing debt maturities. Management anticipates sufficient resources to fund ongoing operations, capital expenditures, and dividends.

Oct 29, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Financial Results (Oct 28, 2025)

ONEOK (OKE) reported higher third-quarter 2025 results, with net income of $940 million ($1.49 per diluted share) versus $693 million ($1.18) a year earlier. Adjusted EBITDA rose about 37% to $2.12 billion from $1.545 billion, and nine-month adjusted EBITDA reached $5.875 billion, up from $4.61 billion. Growth was driven mainly by the EnLink and Medallion acquisitions, higher Rocky Mountain and Mid-Continent NGL throughput, and higher natural gas processing volumes. Q3 results included $10 million of pretax transaction costs (about 1 cent per share after tax), mostly related to the EnLink acquisition. The filing says full-year 2025 net income and adjusted EBITDA guidance ranges were affirmed, but it does not restate the specific ranges in this document. The Q3 gains came with a larger cost base and higher leverage. Quarterly operating costs rose to $738 million from $582 million, depreciation and amortization to $378 million from $274 million, and interest expense to $450 million from $325 million. Nine-month capital expenditures were $2.18 billion, including $804 million in Q3, and the company had about $1.2 billion of cash at quarter-end. Balance sheet activity included a $3 billion senior notes offering in August, repayment of $387 million of 2.2% notes in September, and an increase in the commercial paper program to $3.5 billion. Total debt was roughly $33.7 billion at September 30, 2025. Management also declared a $1.03 quarterly dividend ($4.12 annualized) and repurchased $45 million of common stock in Q3 under a $2 billion authorization. The filing also highlights growth projects: the 300 MMcf/d Bighorn natural gas processing plant in the Permian Basin, expected in mid-2027, and a joint venture to build the 450-mile Eiger Express natural gas pipeline from the Permian to Katy, Texas. Management said synergy capture through Q3 remained ahead of expectations set at the time of the acquisition announcements. The earnings call is scheduled for October 29, 2025, at 11 a.m. Eastern.

Oct 28, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Material Agreement (Aug 13, 2025)

ONEOK, Inc. (OKE) has announced the successful completion of a significant underwritten public offering, raising approximately $2.959 billion in net proceeds. The funds are earmarked for crucial financial maneuvers, including the repayment of all outstanding commercial paper and the maturity of its senior notes due September 15, 2025. This strategic debt refinancing aims to strengthen ONEOK's balance sheet and manage its upcoming debt obligations, signaling a proactive approach to financial management. The offering consisted of three tranches of notes: $750 million of 4.950% notes due 2032, $1.0 billion of 5.400% notes due 2035, and $1.25 billion of 6.250% notes due 2055. Notably, these new notes are guaranteed by several entities, including Magellan Midstream Partners, L.P. and EnLink Midstream Partners, LP, providing additional security for investors. Any remaining proceeds will be directed towards general corporate purposes, potentially including further debt reduction.

Aug 13, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Material Agreement (Aug 8, 2025)

ONEOK, Inc. (NYSE: OKE) disclosed in this 8-K, filed August 8, 2025, that it priced a $3.0 billion senior notes offering on August 6, 2025, with closing expected on or about August 12, 2025. The offering comprises $750 million of 4.950% notes due 2032, $1.0 billion of 5.400% notes due 2035, and $1.25 billion of 6.250% notes due 2055. Net proceeds are expected to be approximately $2.96 billion after underwriting discounts, commissions and offering expenses. ONEOK's subsidiaries ONEOK Partners, L.P., ONEOK Partners Intermediate Limited Partnership, Magellan Midstream Partners, L.P., Elk Merger Sub II, L.L.C. and EnLink Midstream Partners, LP are guarantors of the notes. The primary use of proceeds is refinancing. ONEOK intends to repay all outstanding commercial paper and to repay in full at maturity its senior notes due September 15, 2025, plus accrued interest. Any remaining proceeds are earmarked for general corporate purposes, which may include repaying or repurchasing or redeeming other existing debt. For investors, the transaction is primarily a liability management and refinancing event that extends the maturity profile and replaces short-term commercial paper and near-term maturing debt with longer-dated fixed-rate notes, rather than a new growth or acquisition financing. The 2055 tranche's 6.250% coupon is a notable marker of the cost of long-dated capital for the company. The filing also notes that the underwriters and their affiliates have provided and may continue to provide commercial banking, advisory and other services to ONEOK, and that several underwriters are lenders under ONEOK's credit facilities, dealers under its commercial paper program and holders of its senior notes. The trustee, U.S. Bank Trust Company, National Association, is a lender under ONEOK's credit facility. The Regulation FD press release (Exhibit 99.1) is furnished rather than filed. The filing contains no new financial results, guidance or earnings information.

Aug 8, 2025 10-Q

ONEOK INC /NEW/ Quarterly Report for Q2 Ended Jun 30, 2025

ONEOK, Inc. reported robust financial performance for the period ending June 29, 2025, marked by significant revenue growth and increased net income compared to the prior year. This growth was primarily driven by strategic acquisitions, notably the EnLink and Medallion transactions, which have been successfully integrated into ONEOK's operations and contributed positively across all segments. The company's operational focus remains on its four reportable segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude, with a substantial portion of its earnings being fee-based and supported by long-term contracts. ONEOK continues to invest in capital projects, including expansions in its Natural Gas Liquids and Refined Products and Crude segments, signaling a commitment to future growth and infrastructure development. The company also successfully amended its $3.5 billion credit agreement and maintains strong relationships with investment-grade counterparties, underscoring its stable financial footing. Despite potential headwinds from geopolitical events and commodity price volatility, ONEOK's diversified and predominantly fee-based business model positions it well to navigate market conditions and deliver continued value to shareholders, supported by a consistent dividend policy.

Aug 5, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Financial Results (Aug 4, 2025)

ONEOK reported higher second-quarter 2025 results, with net income attributable to ONEOK of $841 million, or $1.34 per diluted share, versus $780 million, or $1.33, in the prior-year quarter. Adjusted EBITDA rose about 22% to $1.98 billion from $1.62 billion, though the figure includes $21 million of transaction costs, mainly tied to the EnLink acquisition. Growth came mainly from the EnLink and Medallion acquisitions, which added adjusted EBITDA across the Natural Gas Gathering and Processing, Natural Gas Liquids, and Refined Products and Crude segments. Management also cited an 11% increase in Rocky Mountain region NGL raw feed throughput and said it is making progress on acquisition synergies. The release affirmed full-year 2025 financial guidance ranges. The excerpt does not include the guidance figures themselves. The balance sheet shows significant changes. Cash fell to $97 million from $733 million at year-end 2024. Total debt was roughly $32.5 billion at June 30, 2025, including $1.2 billion of short-term borrowings. The company repaid or repurchased nearly $600 million of senior notes, including the remaining $422 million of 4.15% notes at maturity. Noncontrolling interests fell to $74 million from $5.1 billion after ONEOK bought the remaining 49.9% of the Delaware Basin JV in May 2025. Capital expenditures reached $1.38 billion in the first half, up from $991 million, and the quarterly dividend was declared at $1.03 per share, or $4.12 annualized. In July 2025, ONEOK also raised its BridgeTex Pipeline stake to 60%. Investors will likely focus on whether acquisition synergies and integration deliver the expected returns, and on the pace of deleveraging given the elevated debt and continued high capex.

Aug 4, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Jul 17, 2025)

ONEOK, Inc. (NYSE: OKE) announced on July 16, 2025 that its board of directors declared a quarterly common stock dividend of $1.03 per share, unchanged from the prior quarter. On an annualized basis, this equals $4.12 per share. The filing is a routine Regulation FD disclosure furnished under Items 7.01 and 8.01, with the press release attached as Exhibit 99.1. The dividend is payable August 14, 2025, to shareholders of record at the close of business on August 1, 2025. For income-focused investors, the key takeaway is the maintained payout level rather than any increase, which signals the board's continued confidence in cash flow coverage but offers no growth signal in this announcement. The filing contains no financial results, guidance changes, or operational updates. The press release describes ONEOK as a leading midstream operator with roughly 60,000 miles of pipelines spanning gathering, processing, fractionation, transportation, storage, and marine export services. The company is in the S&P 500. Investors seeking fundamental drivers should look to the company's periodic reports (10-Q/10-K) and earnings materials rather than this dividend notice.

Jul 17, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Jul 1, 2025)

ONEOK, Inc. (NYSE: OKE) filed this Form 8-K on July 1, 2025, to furnish a June 30, 2025 news release announcing the timing of its second quarter 2025 earnings. The company will release results after the market closes on August 4, 2025, and hold a conference call and live webcast at 11 a.m. Eastern Time (10 a.m. Central) on August 5, 2025. The filing is an administrative Regulation FD disclosure and contains no financial results, guidance, or operating metrics. For investors, the practical takeaway is the earnings calendar. The call will be carried live on ONEOK's website, with a phone replay available for seven days and a webcast replay on the company's site for one year. The release describes ONEOK as a midstream operator with gathering, processing, fractionation, transportation, storage, and marine export services, supported by an approximately 60,000-mile pipeline network. Because the filing furnishes information under Item 7.01 rather than filing it, the content is not subject to Section 18 liability unless specifically incorporated by reference. Investors seeking performance details should wait for the August 4 earnings release and the associated Form 10-Q.

Jul 1, 2025 8-K

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

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.

Jun 4, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (May 29, 2025)

ONEOK Inc. (OKE) has filed an 8-K Current Report on May 28, 2025, to disclose its participation in an upcoming investor conference. The company announced its attendance and a fireside chat session scheduled for Wednesday, May 28th, at 2:30 p.m. Eastern Time. This event provides an opportunity for investors to gain insights into the company's strategic direction and operational performance. Investors are encouraged to access the live webcast and replay of the fireside chat, as well as ONEOK's latest investor materials, which will be made available on the company's website, www.oneok.com. The filing includes a news release dated May 27, 2025, as an exhibit, which further details this participation.

May 29, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Executive Changes (May 22, 2025)

ONEOK, Inc. filed an 8-K reporting on key outcomes from its Annual Meeting of Shareholders held on May 21, 2025. The most significant development for investors is the shareholder approval of two new equity-based compensation plans: the ONEOK, Inc. 2025 Equity Incentive Plan (2025 EIP) and the ONEOK, Inc. 2025 Employee Stock Award Program (2025 ESAP). These plans are designed to incentivize and retain employees and directors by providing opportunities for stock-based awards tied to company performance and stock price appreciation. The 2025 EIP replaces the previous 2018 plan and allows for various award types, including stock options, restricted stock units, and performance awards, with a total authorized share pool of approximately 19.15 million shares. The 2025 ESAP is a new program intended to award shares to eligible employees when certain stock price benchmarks are met. These initiatives signal the company's commitment to aligning executive and employee interests with those of shareholders through equity compensation.

May 22, 2025 10-Q

ONEOK INC /NEW/ Quarterly Report for Q1 Ended Mar 31, 2025

ONEOK, Inc. reported solid financial results for the first quarter of 2025, demonstrating resilience and strategic growth. Total revenues significantly increased to $8.04 billion from $4.78 billion in the prior year, driven by strong performance across its segments, particularly the Natural Gas Liquids and Refined Products and Crude segments. The company benefited from the recent EnLink Acquisition, which closed on January 31, 2025, contributing positively to operating income and segment adjusted EBITDA. Net income attributable to ONEOK was $636 million, a slight decrease from $639 million in the prior year, with diluted EPS at $1.04, down from $1.09, largely impacted by increased interest expenses and transaction costs. ONEOK continues to execute its growth strategy with significant capital expenditures focused on key projects like the MBTC Pipeline and Texas City Logistics terminal. The company maintained its investment-grade credit rating and managed its leverage effectively, with a consolidated indebtedness to adjusted EBITDA ratio of 4.1 to 1, well within its covenant limits. The company also announced a dividend of $1.03 per share, reflecting confidence in its ongoing cash flow generation and commitment to shareholder returns.

Apr 30, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Financial Results (Apr 29, 2025)

ONEOK (NYSE: OKE) reported higher first-quarter 2025 results, with net income attributable to ONEOK of $636 million, or $1.04 per diluted share, versus $639 million, or $1.09 per diluted share, in the prior-year quarter. Adjusted EBITDA rose about 23% to $1.78 billion from $1.44 billion. The company also affirmed its full-year 2025 financial guidance. The quarter's first full period of contribution from the EnLink Midstream and Medallion acquisitions drove most of the growth, alongside higher Rocky Mountain region NGL and natural gas volumes. Per-share earnings were roughly flat despite the higher EBITDA because of substantially higher depreciation, interest expense, and the dilutive effect of roughly 40 million additional shares issued in connection with the EnLink deal. The quarter carried meaningful one-time costs, including $42 million of transaction costs (about 5 cents per diluted share after tax), mostly tied to the EnLink acquisition, which closed January 31, 2025. Interest expense climbed to $442 million from $300 million, and depreciation and amortization nearly doubled to $380 million. Operating cash flow of $904 million exceeded the $696 million of combined investing and dividend outflows only partially, since dividends paid of $643 million plus $629 million of capital expenditures absorbed most of the cash generated, and cash fell to $141 million from $733 million at year-end. Total debt, including current maturities and short-term borrowings, rose to roughly $32.0 billion, reflecting acquisition financing. Shareholders' equity attributable to ONEOK increased sharply to $21.4 billion from $17.0 billion, largely because of the equity issued to fund the EnLink transaction, while noncontrolling interests fell from $5.1 billion to $756 million. Investors will be watching the pace of EnLink and Medallion synergy realization, the completion of organic growth projects, the planned Texas City LPG export terminal joint venture, and whether leverage declines as the company integrates recent acquisitions. The company declared a quarterly dividend of $1.03 per share ($4.12 annualized) and continued share repurchases under its $2 billion program, though repurchases to date have been modest.

Apr 29, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Apr 25, 2025)

ONEOK, Inc. (NYSE: OKE) filed a Form 8-K on April 25, 2025 to furnish a Regulation FD disclosure announcing that its board of directors declared a quarterly common stock dividend of $1.03 per share, unchanged from the prior quarter. This equates to an annualized dividend of $4.12 per share. The dividend is payable May 15, 2025, to shareholders of record at the close of business on May 5, 2025. The filing is a routine capital-return announcement rather than a material event. It contains no new financial results, guidance changes, transactions, or executive changes. The flat dividend signals that management and the board are maintaining the existing payout level instead of raising it, which is consistent with a conservative approach to capital allocation for a midstream operator. For income-focused investors, the key takeaway is the continuity of the distribution. Investors should note that the filing itself provides no detail on coverage ratios, free cash flow, or leverage, so assessing dividend sustainability requires referring to ONEOK's most recent earnings release and Form 10-K. The forward-looking statements in the press release also caution that actual results may differ materially from expectations, as is standard for the sector.

Apr 25, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Apr 2, 2025)

ONEOK, Inc. (NYSE: OKE) filed a Form 8-K on April 2, 2025 to furnish a news release (Exhibit 99.1) announcing the timing of its first quarter 2025 earnings release and conference call. The company will report first quarter 2025 results after market close on April 29, 2025, and host a conference call and live webcast on April 30, 2025 at 11 a.m. Eastern (10 a.m. Central), with the call carried live on ONEOK's website. The filing is administrative in nature and contains no financial results, guidance, or material operational or transactional disclosures. Under Items 7.01 and 9.01, the information is furnished under Regulation FD rather than filed, so it is not subject to Section 18 liability. Investors should treat this as a scheduling notice; the substantive information will come with the earnings release itself. The release also provides a brief company profile: ONEOK operates roughly 60,000 miles of pipelines and provides gathering, processing, fractionation, transportation, storage and marine export services for natural gas, NGLs, refined products and crude oil. The company is an S&P 500 constituent headquartered in Tulsa, Oklahoma. Replay access is available on the company website for one year, and a telephone recording is available for seven days.

Apr 2, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Corporate Update (Mar 3, 2025)

ONEOK, Inc. (OKE) has filed a Current Report (8-K) on March 3, 2025, primarily announcing the details for its 2025 Annual Meeting of Shareholders. The meeting will be conducted virtually only on May 21, 2025, at 9 a.m. Central Time, accessible via a live webcast. This format aims to provide broad accessibility to shareholders. Key dates for shareholders include March 24, 2025, as the record date for determining voting eligibility, and April 2, 2025, when registration for the virtual meeting will open. Investors should note that no significant financial or operational updates are included in this particular filing; its main purpose is to communicate the logistics of the upcoming shareholder meeting.

Mar 3, 2025 10-K

ONEOK INC /NEW/ Annual Report, Year Ended Dec 31, 2024

ONEOK, Inc. (OKE) has released its 2024 Annual Report, detailing significant strategic initiatives and operational performance. The company has completed several transformative acquisitions, notably the full acquisition of EnLink Midstream and the Medallion acquisition, significantly expanding its midstream footprint, particularly in the Permian Basin and Mid-Continent regions. These acquisitions, funded in part by a substantial $7.0 billion senior unsecured notes offering, are expected to yield significant synergies and enhance ONEOK's integrated value chain. Furthermore, the company continues to execute its strategy of capital allocation, including a 4% increase in its quarterly dividend and ongoing share repurchases, all while maintaining a strong focus on operational safety and environmental responsibility. The report also highlights ONEOK's commitment to a sustainable business model and maximizing shareholder returns through high-return capital projects and dividend growth. The company's diversified, primarily fee-based business model, with approximately 90% of consolidated earnings being fee-based in 2024, positions it well to navigate market volatility. Management remains focused on prudent financial strength, an investment-grade credit rating, and a strong balance sheet.

Feb 25, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Feb 25, 2025)

ONEOK, Inc. (NYSE: OKE) furnished an 8-K on February 25, 2025 (Item 7.01, Regulation FD) attaching its February 24, 2025 news release. The release sets 2025 financial guidance and provides a 2026 growth outlook. Guidance midpoints call for net income including noncontrolling interests of $3.45 billion (up 11% year over year), diluted EPS of $5.37 (up 8%, excluding 2024 one-time items), and adjusted EBITDA of $8.225 billion (up 21%, excluding transaction costs). Total 2025 capital expenditures are expected at $2.8 billion to $3.2 billion. Management attributes the growth mainly to volume growth, recently completed projects, a full year of earnings from recent acquisitions, and about $250 million of incremental commercial and cost synergies. The company expects 2026 EPS growth above 15% and adjusted EBITDA growth approaching 10%, both versus 2025 guidance midpoints. The outlook depends on a full-year contribution from the Elk Creek and West Texas NGL pipeline expansions, a partial-year benefit from the Denver-area refined products expansion, and continued realization of acquisition synergies. The release also reiterates capital return targets: dividend growth of 3% to 4% annually, combined dividends and buybacks of roughly 75% to 85% of forecast cash flow from operations after capex over the next three years, and a target debt-to-EBITDA of about 3.5x in 2026. For investors, the key points are that guidance is largely driven by volume growth and acquisitions that are already closed (EnLink closed January 31, 2025), and that the 2026 outlook is a forward-looking, non-GAAP-heavy projection subject to the risks listed in the release. The filing itself is a furnished, not filed, disclosure.

Feb 25, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Financial Results (Feb 24, 2025)

ONEOK (NYSE: OKE) reported higher fourth-quarter and full-year 2024 results, with Q4 net income attributable to ONEOK of $923 million ($1.57 per diluted share) versus $688 million ($1.18) a year earlier, and Q4 adjusted EBITDA of $2.17 billion, up from $1.51 billion. For full-year 2024, net income attributable to ONEOK was $3.04 billion ($5.17 per diluted share, down from $5.48 in 2023 because 2023 included a large one-time Medford insurance gain) and adjusted EBITDA reached $6.78 billion, up from $5.24 billion. Management attributed growth to a full year of Magellan-related earnings in Refined Products and Crude, higher Rocky Mountain volumes, the $1.2 billion interstate pipeline divestiture gain, and the EnLink and Medallion acquisitions. Note that the Q4 and full-year figures are inflated by roughly $237 million and $286 million of non-strategic divestiture gains, and that the EnLink acquisition closed only on Jan. 31, 2025, so it contributes to 2025 rather than 2024 results. The balance sheet expanded considerably during 2024: total assets rose to $64.1 billion from $44.3 billion, and long-term debt reached $31.0 billion (plus $1.06 billion current maturities). Management reported a 3.6x annualized Q4 net debt-to-EBITDA ratio and no borrowings under its credit facility at year-end. In February 2025, ONEOK amended its credit agreement to $3.5 billion with a February 2030 maturity. Capital returns continued with a 4% dividend increase to $1.03 per quarter and $171.7 million of buybacks under a $2 billion program. Strategically, ONEOK announced a joint venture to build a 400,000 bpd LPG export terminal in Texas City, Texas, which signals continued expansion of its growth capital program, with 2024 capital expenditures of $2.02 billion.

Feb 24, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Material Agreement (Feb 20, 2025)

ONEOK, Inc. (OKE) has announced a significant update to its credit facilities through a second amended and restated credit agreement. This filing details the enhancement of its revolving unsecured credit facility, increasing its capacity from $2.5 billion to $3.5 billion, with an option to further increase by an additional $1.0 billion under certain conditions. The maturity date for this facility has also been extended from June 2028 to February 2030, providing enhanced financial flexibility and a longer-term liquidity runway. This refinancing underscores ONEOK's proactive approach to managing its balance sheet and ensuring adequate access to capital for its strategic initiatives. The increased credit limit and extended maturity are positive indicators for investors, suggesting that the company is well-positioned to fund ongoing operations, capital expenditures, potential acquisitions, and other general corporate purposes. The agreement includes standard covenants, such as a net leverage ratio not to exceed 5.00:1.00 (with a temporary increase permitted after significant acquisitions), and is backed by guarantees from key subsidiaries, reinforcing the creditworthiness of the overall structure.

Feb 20, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Feb 6, 2025)

ONEOK (NYSE: OKE) announced on February 4, 2025 that it has entered into definitive agreements with MPLX LP to form two joint ventures: Texas City Logistics LLC, a 50/50 venture to build a new 400,000-barrel-per-day liquefied petroleum gas (LPG) export terminal in Texas City, Texas, and MBTC Pipeline LLC, an 80/20 venture (ONEOK/MPLX) to build a new 24-inch pipeline connecting ONEOK's Mont Belvieu, Texas, storage facility to the new terminal. MPLX will construct and operate the export terminal, which is expected to be completed in early 2028 and will leverage Marathon's existing site and infrastructure for construction timing and cost benefits. ONEOK will construct and operate the pipeline. The total investment is approximately $1.4 billion for the terminal, with ONEOK and MPLX each contributing about $700 million, and approximately $350 million for the pipeline, with ONEOK contributing about $280 million and MPLX about $70 million. ONEOK's total share of capital investment across both projects is expected to be approximately $1.0 billion. Throughput is expected to be primarily low ethane propane (LEP) and normal butane (NC4), with each partner contractually reserving 200,000 bpd for its own customers. For investors, the filing is a significant expansion of ONEOK's NGL value chain and export capacity, supporting the company's stated growth plans while keeping capital spending within what management describes as a disciplined capital allocation framework. The 8-K itself contains no new financial results or guidance; the key risk flagged is that ONEOK may be unable to realize the anticipated benefits of the transaction, and the project timelines extend to 2028.

Feb 6, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Material Agreement (Feb 5, 2025)

ONEOK Inc. (OKE) filed an 8-K on February 5, 2025, detailing significant financial and organizational adjustments related to its prior announced mergers and reorganizations, specifically the Second Merger and an Internal Reorganization. The primary focus of this filing is the execution of numerous supplemental indentures and a guarantee agreement, which formally assume and guarantee various debt obligations. These actions are critical steps in integrating the acquired entities and ensuring continuity of financial commitments, particularly concerning EnLink Midstream Partners, LP (ENLK) and its outstanding notes, as well as ONEOK's own senior notes and credit facilities. These legal maneuvers aim to streamline the capital structure and confirm the responsibilities of the various ONEOK and acquired entities post-merger. Investors should note that these filings are largely administrative in nature, confirming the assumption of debt and the establishment of guarantees to solidify the financial standing and obligations of the combined entity. Additionally, the report notes the retirement of Charles M. Kelley, Senior Vice President of Commercial Natural Gas Pipelines, effective March 31, 2025.

Feb 5, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Acquisition Completed (Jan 31, 2025)

On January 31, 2025, ONEOK, Inc. (NYSE: OKE) completed its acquisition of EnLink Midstream, LLC through a two-step merger. Under the Merger Agreement dated November 24, 2024, EnLink unitholders other than ONEOK received 0.1412 shares of ONEOK common stock for each EnLink common unit, with cash paid in lieu of fractional shares. Before the closing, ONEOK already owned roughly 43.7% of EnLink's units and all of the membership interests in EnLink's managing member, so the transaction effectively consolidated full ownership of the platform. EnLink common units stopped trading on the NYSE as a result. For equity holders, the key mechanics are the exchange ratio and the treatment of incentive awards. Outstanding EnLink restricted incentive unit awards and performance unit awards were assumed by ONEOK and converted into time-based restricted stock units on ONEOK common stock, preserving the original vesting and forfeiture terms. Performance-based vesting conditions on the performance unit awards were removed, so those awards now vest on time only. The share issuance was registered on Form S-4, which was declared effective by the SEC on December 30, 2024, and EnLink unitholders approved the deal at a special meeting on January 30, 2025. The filing also discloses a post-closing internal reorganization that affects debt and guarantees. ONEOK assumed the obligations of the surviving EnLink entity and EnLink Midstream Partners, LP under their indentures and senior notes, and those entities now guarantee ONEOK's and ONEOK Partners' senior notes and ONEOK's amended and restated credit agreement. Investors should track how the expanded guarantor group and added debt affect ONEOK's capital structure, credit ratings, and the realization of expected integration synergies. The company's forward-looking statements flag these as key risks.

Jan 31, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Jan 30, 2025)

On January 30, 2025, ONEOK, Inc. (NYSE: OKE) and EnLink Midstream, LLC (NYSE: ENLC) announced that EnLink unitholders approved ONEOK's previously announced acquisition of the remaining publicly held common units of EnLink. Preliminary results show approximately 379.1 million units, or about 99.8% of the units voted, were cast in favor, representing 82.9% of outstanding units. The transaction is expected to close on January 31, 2025, at which point EnLink common units will cease trading on the NYSE before market open. Under the terms of the deal, each EnLink common unit not already owned by ONEOK will convert into 0.1412 shares of ONEOK common stock. This completes the final step in ONEOK bringing EnLink fully under its ownership, so public EnLink unitholders will become ONEOK shareholders. The filing itself is a Regulation FD disclosure that incorporates the press release by reference and does not present new financial results, guidance, or updated deal economics. The filing includes standard cautionary language on forward-looking statements, covering integration risk, potential synergy shortfalls, possible changes in credit ratings, closing conditions, and commodity price and regulatory exposure. Investors should note that the Form S-4 registration statement was declared effective by the SEC on December 30, 2024, and the proxy statement/prospectus was mailed to EnLink unitholders around December 31, 2024.

Jan 30, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Jan 22, 2025)

ONEOK, Inc. (NYSE: OKE) filed a Form 8-K on January 22, 2025 under Item 7.01 (Regulation FD Disclosure) to announce the timing of its fourth quarter and year-end 2024 earnings release. The company will release results after market close on February 24, 2025, followed by a conference call and live webcast on February 25, 2025 at 11 a.m. Eastern (10 a.m. Central). The filing is informational and contains no reported financial results, guidance, or operating metrics. Because the filing is a scheduling notice, the investment-relevant content is limited to the timing of the earnings event. Investors should look to the February 24 release for the actual Q4 and full-year 2024 results, along with any commentary on outlook. The accompanying Exhibit 99.1 news release also describes ONEOK as a leading midstream operator with more than 50,000 miles of pipeline spanning gathering, processing, fractionation, transportation and storage of natural gas, NGLs, refined products and crude oil. The 8-K states that the information is furnished rather than filed, so it is not subject to Section 18 liability and is not incorporated by reference into Securities Act filings unless specifically referenced. The disclosure was made through a press release and webcast schedule, consistent with standard practice for public companies to announce earnings dates in advance.

Jan 22, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Executive Changes (Jan 7, 2025)

ONEOK, Inc. (NYSE: OKE) filed an 8-K on January 7, 2025 reporting two executive leadership changes, both effective immediately. Randy N. Lentz, founder and CEO of Medallion Midstream (acquired by ONEOK in October 2024), was appointed Executive Vice President and Chief Operating Officer, responsible for all of ONEOK's asset operations. He reports directly to CEO Pierce H. Norton II and receives a one-time special RSU award with an aggregate grant-date value of approximately $1.8 million, vesting one-third after year one and two-thirds after year two. His existing Medallion employment agreement is terminated, and he becomes eligible for the standard executive compensation and benefit plans described in the 2024 proxy statement. Separately, Sheridan C. Swords, previously EVP of commercial liquids and natural gas gathering and processing, moved to the newly created role of EVP and Chief Commercial Officer. In addition to his prior responsibilities, he now oversees the Natural Gas Pipelines segment. The press release frames both moves as part of ONEOK's disciplined strategy to build a diversified, fully integrated energy infrastructure company. For investors, the filing is primarily organizational rather than financial. It contains no earnings, guidance, or transaction terms, and the compensation disclosed is modest relative to the company's scale. The key takeaways are the consolidation of operational leadership under a seasoned midstream executive with the Medallion acquisition integrated into senior management, and the expanded commercial and pipeline oversight given to Swords.

Jan 7, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Jan 3, 2025)

ONEOK, Inc. (NYSE: OKE) announced on December 31, 2024 that it closed the sale of its three wholly owned interstate natural gas pipeline systems (Guardian Pipeline, Midwestern Gas Transmission and Viking Gas Transmission) to DT Midstream, Inc. (NYSE: DTM). The sale was effective at 11:59 p.m. Central on December 31, 2024, for total cash consideration of $1.2 billion, subject to customary adjustments. For investors, the transaction is primarily a balance sheet and capital allocation event. ONEOK management says the net proceeds are expected to enhance financial flexibility as the company progresses toward its previously announced leverage target of 3.5 times during 2026. The filing frames the sale as another step in the strategic optimization of ONEOK's integrated asset portfolio, with the proceeds supporting its capital allocation priorities. The filing does not disclose the gain or loss on sale, the EBITDA or earnings contribution from the divested assets, or how the proceeds will be deployed, so investors will need to look to future periodic reports for those details. The 8-K is furnished under Regulation FD rather than filed, so its contents are not subject to Section 18 liability unless specifically incorporated by reference. Key risks flagged include whether ONEOK fully realizes the expected deleveraging benefits, potential disruption to business relationships and operations, and the usual commodity price, regulatory and macroeconomic risks. Subject to the customary adjustments that remain open, the transaction appears to be a completed, cash-funded divestiture of a regulated pipeline portfolio.

Jan 3, 2025 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Dec 31, 2024)

On December 31, 2024, ONEOK (NYSE: OKE) and EnLink Midstream, LLC (NYSE: ENLC) announced that EnLink filed definitive proxy materials for its special meeting of unitholders, scheduled for January 30, 2025, held virtually. The meeting is the final approval step for ONEOK's pending acquisition of the EnLink common units it does not already own. Under the transaction announced November 24, 2024, each publicly held EnLink common unit would convert into 0.1412 shares of ONEOK common stock in a tax-free exchange. Completion requires approval by a majority of outstanding EnLink common units, including those owned by ONEOK, and ONEOK has committed to vote its units in favor. No ONEOK shareholder vote is required. The EnLink board and its Conflicts Committee unanimously recommend a vote FOR all proposals, and closing is expected in the first quarter of 2025. Strategically, the companies say the combination creates a fully integrated Permian Basin platform at scale and expands ONEOK's footprint in the Mid-Continent, North Texas and Louisiana. Management expects significant synergies from complementary asset positions and says the deal supports ONEOK's balance sheet and capital allocation strategy. The filing does not quantify synergies, purchase price in dollars, or pro forma leverage, so investors will need the proxy statement/prospectus for those details. The Form S-4 registration statement was declared effective by the SEC on December 30, 2024. The key risks flagged in the forward-looking statements include unitholder approval, integration execution, realization of synergies, possible changes to credit ratings, potential termination or delay of closing, and commodity price or economic downturns. Because ONEOK is issuing its own stock as consideration, the deal also exposes ONEOK shareholders to share count dilution, and it is a related-party transaction given ONEOK's existing ownership of EnLink.

Dec 31, 2024 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Dec 11, 2024)

ONEOK Inc. (OKE) has filed an 8-K report on December 10, 2024, primarily to disclose its participation in an upcoming investor conference. The company announced on December 9, 2024, that it will be presenting at this conference, including a fireside chat session scheduled for December 10, 2024, at 11 a.m. Eastern Time. This filing is in line with Regulation FD disclosure requirements, ensuring all investors have access to the same information. Investors can access a copy of the news release detailing this participation as Exhibit 99.1, which is incorporated by reference into the filing. Furthermore, ONEOK has provided a dedicated link on its website, www.oneok.com, for a live webcast, replay, and access to the company's latest investor materials, offering transparency and ease of access to current information.

Dec 11, 2024 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Dec 5, 2024)

ONEOK, Inc. (NYSE: OKE) disclosed in a Form 8-K furnished under Regulation FD (Items 7.01 and 9.01) that it completed two NGL infrastructure projects announced on December 4, 2024: the MB-6 natural gas liquids (NGL) fractionator in Mont Belvieu, Texas, and the full looping of the West Texas NGL Pipeline system. The filing is an operational milestone announcement rather than a financial disclosure. It contains no earnings, revenue, cash flow, guidance changes, or new debt figures, and the attached press release does not quantify the capital cost of either project. The MB-6 fractionator adds 125,000 barrels per day (bpd) of capacity, lifting ONEOK's total fractionation capacity above 1 million bpd. Management states this reduces reliance on third-party fractionators and positions the company to serve growing NGL demand. For a midstream operator, bringing fractionation in-house can improve margins on NGL volumes and reduce third-party fees, which is the main economic rationale for investors to monitor. On the West Texas NGL Pipeline, full looping raises capacity to 515,000 bpd today, with additional pump stations expected in mid-2025 to reach 740,000 bpd. Investors should note that the 740,000 bpd figure is a forward-looking target tied to a future milestone, and that the release includes standard forward-looking statement cautions. Realized contribution will depend on volume commitments, NGL market demand, and execution on the pump station schedule.

Dec 5, 2024 8-K

ONEOK INC /NEW/ 8-K Report, Material Agreement (Nov 25, 2024)

On November 24, 2024, ONEOK (OKE) entered into a merger agreement to acquire all of the publicly held common units of EnLink Midstream (ENLC) in a tax-free, all-stock transaction valued at approximately $4.3 billion. Each publicly held EnLink unit will convert into 0.1412 shares of ONEOK common stock, based on EnLink's $15.75 close on November 22, 2024 and ONEOK's 10-day VWAP. ONEOK expects to issue roughly 37.0 million shares, about 6.0% of its post-closing shares outstanding. The transaction is structured as a two-step merger (a First Merger and a Second Merger) and is expected to close in the first quarter of 2025. The deal is largely a formality for ONEOK's control position. ONEOK already owns about 43.8% of EnLink units following its October 2024 acquisition of GIP's interest for roughly $3.3 billion in cash, and it has irrevocably agreed under a Support Agreement to vote those units in favor. Completion still requires approval by a Unit Majority of EnLink unitholders, which ONEOK's own vote effectively supplies, and it requires an effective Form S-4 registration statement and NYSE listing approval for the new shares. No ONEOK shareholder vote is required, and HSR waiting periods were already satisfied under the earlier acquisition. The merger agreement also requires a tax opinion that the transaction qualifies as a Section 368(a) reorganization. Management says the transaction will be accretive to ONEOK shareholders and will give former EnLink public unitholders greater trading liquidity and a more attractive dividend yield. Investors should note that the filing excerpt does not quantify accretion, synergies, or the pro forma capital structure. Termination rights include an outside date of May 23, 2025, and EnLink may owe ONEOK a $143,978,000 termination fee in certain circumstances, with expense reimbursements capped at $10 million on each side. The S-4 and proxy statement/prospectus will contain the detailed financial and risk disclosure.

Nov 25, 2024 8-K

ONEOK INC /NEW/ 8-K Report, Corporate Update (Nov 22, 2024)

ONEOK, Inc. (NYSE: OKE) announced on November 19, 2024 a definitive agreement to sell its three wholly owned interstate natural gas pipeline systems to DT Midstream, Inc. (NYSE: DTM) for total cash consideration of $1.2 billion, subject to customary adjustments. The assets are Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission. Per the press release, the purchase price represents 10.8 times trailing 12-month EBITDA as of June 30, 2024, based on FERC filings. The transaction has been unanimously approved by the boards of both companies and is expected to close in the fourth quarter of 2024, subject to customary conditions including Hart-Scott-Rodino clearance. Management characterizes the sale as a portfolio optimization move that aligns capital allocation priorities within ONEOK's integrated operating footprint. The company states that net proceeds should enhance financial flexibility and support its deleveraging trajectory toward a previously announced target of 3.5x debt-to-EBITDA during 2026. The filing itself is a brief Item 8.01 (Other Events) report that incorporates the press release as Exhibit 99.1, so detailed financial impacts such as gain on sale, the use of proceeds, and the effect on earnings guidance are not quantified in this document. For investors, the key considerations are the valuation multiple, the timing and execution risk around regulatory approvals, and the magnitude of deleveraging relative to ONEOK's overall debt load. The press release notes that ONEOK is the managing member of EnLink Midstream and owns 43% of its outstanding common units, which is relevant context for the company's broader midstream position. Forward-looking statements carry standard risks, including deal completion, disruption to operations, and commodity price and regulatory changes.

Nov 22, 2024 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Nov 13, 2024)

ONEOK, Inc. (NYSE: OKE) filed this Form 8-K on November 13, 2024 to furnish under Regulation FD a notice that management will take part in a fireside chat at the BofA Securities Global Energy Conference in Houston. The session is scheduled for 2:20 p.m. Eastern Time (1:20 p.m. Central) on November 13, 2024, and will be webcast live and replayed on ONEOK's website. The filing is procedural. It contains no earnings, financial results, guidance, or new material business developments. The only substantive business context in the attached news release is ONEOK's ownership position in EnLink Midstream, LLC (NYSE: ENLC). As of October 15, 2024, ONEOK is the managing member of EnLink and owns 43% of its outstanding common units. The release also describes ONEOK as a leading midstream operator with a network of more than 50,000 miles of pipelines that gathers, processes, fractionates, transports, and stores natural gas, NGLs, refined products, and crude oil. For investors, this filing is primarily an event notice. Its value lies in the opportunity to hear management commentary live or on replay. Any actual investment conclusions would depend on what management says during the fireside chat and on the company's periodic reports, such as its 10-Q and earnings materials, which are not part of this filing.

Nov 13, 2024 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Oct 31, 2024)

On October 31, 2024, ONEOK (NYSE: OKE) completed its acquisition of Medallion Midstream from Global Infrastructure Partners (GIP III). ONEOK acquired all limited partner interests in GIP III Trophy Intermediate Holdings, L.P. (Medallion) for approximately $2.4 billion in cash and became Medallion's general partner. In a related transaction, ONEOK also bought the remaining 60.0% of Medallion Midland Partners, LLC, a crude gathering joint venture with the DoublePoint Group, for about $170 million in cash. Combined cash consideration is roughly $2.6 billion, consistent with the figure in the press release. The acquired system is the largest privately held crude oil gathering and transportation system in the Permian Basin's Midland Basin. It includes more than 1,200 miles of crude gathering pipelines, about 1.3 million barrels per day of capacity, and roughly 1.5 million barrels of crude storage. Management expects commercial synergies because the assets already connect with ONEOK's long-haul crude pipelines out of the basin. The deal extends ONEOK's crude value chain and diversifies its Permian exposure. The filing does not disclose purchase price allocation, expected EBITDA contribution, financing structure, or updated guidance. The disclosure is furnished under Regulation FD and Item 8.01 rather than filed, so it is not subject to Section 18 liability. The press release also notes that ONEOK became managing member of EnLink Midstream, LLC as of October 15, 2024, and owns 43% of EnLink's common units. Investors should review ONEOK's subsequent periodic reports for accounting details, integration progress, and the effect on leverage and distributable cash flow.

Oct 31, 2024 10-Q

ONEOK INC /NEW/ Quarterly Report for Q3 Ended Sep 30, 2024

ONEOK, Inc. reported a strong third quarter and first nine months of 2024, demonstrating significant growth driven by strategic acquisitions and robust operational performance across its segments. Total revenues increased substantially year-over-year, reflecting higher commodity sales and services. The company successfully integrated the Magellan Acquisition and is progressing with the significant EnLink and Medallion acquisitions, which are expected to further enhance its scale and market position, particularly in the Permian Basin. While interest expenses have risen due to increased debt financing for these acquisitions, net income and diluted earnings per share have shown positive trends for the quarter, although the year-to-date EPS was impacted by a large insurance settlement in the prior year. ONEOK continues to focus on its fee-based business model, with over 85% of its consolidated earnings expected to be fee-based in 2024, providing a degree of insulation from commodity price volatility. The company also reiterated its commitment to returning capital to shareholders through dividends and a new share repurchase program.

Oct 30, 2024 8-K

ONEOK INC /NEW/ 8-K Report, Financial Results (Oct 29, 2024)

ONEOK (OKE) reported third-quarter 2024 net income of $693 million, or $1.18 per diluted share, and adjusted EBITDA of $1.55 billion, both up sharply from the prior-year quarter ($454 million and $0.99; $1.015 billion). Growth was driven mainly by Rocky Mountain NGL and natural gas volumes, higher transportation rates in Natural Gas Pipelines (adjusted EBITDA up 22%), and first contributions from the Refined Products and Crude segment. Year-over-year comparisons are distorted by 2023 items, including the $779 million Medford insurance settlement gain and $123 million of Magellan transaction costs, so the nine-month decline in Natural Gas Liquids EBITDA largely reflects that one-time base effect rather than deteriorating operations. Management raised 2024 guidance for the second time this year. On a stand-alone basis (excluding EnLink and Medallion), net income guidance moved to $2.87-$3.02 billion, and adjusted EBITDA guidance rose to $6.20-$6.35 billion, with the midpoint up $100 million. Consolidated guidance, which includes expected EnLink and Medallion contributions, is $2.895-$3.095 billion of net income and $6.525-$6.725 billion of adjusted EBITDA. Stand-alone capital expenditure guidance is unchanged at $1.75-$1.95 billion. The balance sheet reflects significant acquisition activity. ONEOK issued $7 billion of senior notes in September and completed the purchase of GIP's EnLink interest for about $3.3 billion in October, bringing its stake to 43% of EnLink's common units plus the managing member interest. The pending $2.6 billion Medallion acquisition is expected to close in Q4 2024. Net debt to annualized EBITDA was 3.5x at quarter-end, and the company had $5.9 billion of cash held for acquisitions. Investors should watch leverage through integration and whether synergy targets are met.

Oct 29, 2024 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Oct 17, 2024)

ONEOK Inc. (NYSE: OKE) announced on October 16, 2024 that its board declared a quarterly common stock dividend of 99 cents per share, unchanged from the prior quarter. This equates to an annualized dividend of $3.96 per share. The dividend is payable November 14, 2024, to shareholders of record as of the close of business on November 1, 2024. From an investor standpoint, this is a routine, non-material event. The flat dividend signals management's continued commitment to the current payout level rather than a raise or cut, which is consistent with a steady-income posture for a midstream operator. The filing itself contains no new financial results, guidance changes, or operational updates; the only other information is a boilerplate business description noting that, as of October 15, 2024, ONEOK is the managing member of EnLink Midstream, LLC (NYSE: ENLC) and owns approximately 43% of its outstanding common units. The disclosure was filed under Items 7.01 (Regulation FD) and 8.01 (Other Events) and furnished as Exhibit 99.1. Investors seeking a view on ONEOK's financial health should look to its quarterly earnings reports and Form 10-Q/10-K filings for coverage ratios, leverage, and distributable cash flow trends, rather than this dividend notice alone.

Oct 17, 2024 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Oct 15, 2024)

On October 15, 2024, ONEOK, Inc. (NYSE: OKE) completed its acquisition of Global Infrastructure Partners' (GIP) entire interest in EnLink Midstream, LLC (NYSE: ENLC) for approximately $3.285 billion in cash. The transaction comprised 200,340,753 EnLink common units (about 43.4% of outstanding units) at $14.90 per unit, plus 100% of the interests in EnLink's managing member for $300 million. The closing followed expiration of the HSR Act waiting period under the Purchase Agreement dated August 28, 2024. With the closing, ONEOK controls EnLink's managing member and is replacing GIP-designated directors with ONEOK-chosen directors, including CEO Pierce H. Norton II (who becomes EnLink board chairman), CFO Walter S. Hulse III, and Chief Legal Officer Lyndon C. Taylor. EnLink will be consolidated as a subsidiary of ONEOK for GAAP reporting. ONEOK stated that the combined asset base should enhance synergies, reduce leverage, and increase accretion to ONEOK shareholders, and it intends to pursue a tax-free acquisition of EnLink's publicly held common units. For investors, the deal expands ONEOK's footprint in the Permian Basin, Mid-Continent, North Texas and Louisiana, and establishes a new strategic position in Louisiana. The filing is furnished under Regulation FD and Item 8.01 rather than filed, and the management claims on synergies, leverage, and accretion are forward-looking and subject to integration, regulatory, and commodity-price risks. ONEOK also noted it continues to work toward closing its separate acquisition of GIP's equity interests in Medallion Midstream.

Oct 15, 2024 8-K

ONEOK INC /NEW/ 8-K Report, Regulation FD Disclosure (Sep 27, 2024)

This Form 8-K, filed September 27, 2024, is a routine Regulation FD disclosure rather than a material event. ONEOK, Inc. (NYSE: OKE) announced that it will release its third quarter 2024 earnings after market close on October 29, 2024, and will host a conference call and live webcast at 11 a.m. Eastern Time (10 a.m. Central) on October 30, 2024. The filing contains no financial results, guidance, or operational updates. For investors, the practical takeaway is the timing: Q3 2024 results and any commentary from management will be available on October 29 and discussed on the October 30 call. The filing describes ONEOK as a leading midstream operator with more than 50,000 miles of pipeline across natural gas, NGLs, refined products, and crude oil, which provides context but no new information about performance. The exhibit notes that the replay will be available on the company website for one year, and a phone recording will be accessible for seven days. No new risks, transactions, or changes to the company's capital structure, management, or governance are disclosed. Investors should look to the Q3 2024 earnings release and accompanying materials for substantive information on results.

Sep 27, 2024