The Permian Basin continues to be a driving force behind U.S. oil and gas production, and ONEOK Inc. is making strategic moves to solidify its position in this critical region. During its Q4 2024 earnings call, ONEOK outlined significant infrastructure expansions, acquisitions, and future growth opportunities in the Permian.
ONEOK and MPLX’s decision to invest in a $1.4 billion liquefied petroleum gas (LPG) export terminal in Texas City aligns with growing global demand for propane and butane, especially in Asian and European markets.
On August 28, 2024, ONEOK, Inc. (NYSE: OKE) announced its plan to acquire Global Infrastructure Partners’ (GIP) entire interest in EnLink Midstream, LLC (NYSE: ENLC) and Medallion Midstream, LLC, significantly enhancing ONEOK’s presence in the Permian Basin and expanding its footprint in the Mid-Continent, North Texas, and Louisiana regions.
ONEOK announced a more than $18 billion deal to acquire Tulsa-based Magellan Midstream Partners, L.P.
