ONEOK closes sale of natural gas pipelines to DT Midstream for $1.2B

ONEOK (OKE) announced that it has closed the sale of its three wholly owned interstate natural gas pipeline systems to DT Midstream (DTM), effective as of Dec. 31, 2024, for a total cash consideration of $1.2B, subject to customary adjustments. “The closing of this transaction represents another milestone in the strategic optimization of our integrated asset portfolio and advances our capital allocation priorities,” said Pierce H. Norton II, ONEOK president and chief executive officer. “As the new owner of these pipelines, DT Midstream brings a shared commitment to safety, reliability and excellence that will serve all stakeholders well.”