ONEOK Completed Sale of Interstate Natural Gas Pipelines to DT Midstream, Inc.

SEATTLE (Oil Monster): ONEOK Inc. announced that it has completed sale of its wholly-owned interstate natural gas pipeline systems to DT Midstream, Inc. The transaction valued at $1.2 billion in cash, is subject to customary adjustments. The three pipeline systems included in the sale are the Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission.

Pierce H. Norton II, President and CEO, ONEOK acknowledged the crucial role played by ONEOK employees and expressed gratitude for their contributions. The employees, who will now transition to DT Midstream, will continue to play an instrumental role in the success of the natural gas systems moving forward. The milestone transaction represents another step in the strategic optimization of the company’s integrated asset portfolio, he added.

The sale is part of company’s strategy to streamline its assets towards optimizing its integrated operations and prioritizing financial goals. The deal represents seamless transition of critical natural systems to an established operator.

ONEOK is a leading midstream operator with approximately 50,000-mile pipeline network that delivers essential energy products. It is regarded as one of North America’s largest diversified energy infrastructure companies.