Tulsa-based Oneok Inc. is enriching its Lower 48 midstream platform in two bang-up deals with Global Infrastructure Partners (GIP) that would expand its reach in the Permian Basin, Midcontinent and North Texas – and give it access to natural gas opportunities in Louisiana.
In one transaction, Oneok clinched a $3.3 billion definitive agreement to acquire 43% of EnLink Midstream LLC’s outstanding common shares and all the managing member stakes.
Dallas-based EnLink provides services in the Permian, the largest segment, as well as in Louisiana, North Texas and Oklahoma. The Louisiana system alone includes 3,100 miles of natural gas transmission lines and 11 Bcf of storage. It also has two natural gas processing facilities in the state with 710 MMcf/d capacity.
