WASHINGTON (dpa-AFX) - Monday, Oneok, Inc. (OKE) announced its acquisition of a natural gas liquids also known as NGL pipeline system from Houston-based midstream company Easton Energy for around $280 million.
The deal comprises roughly 450 miles of NGL pipelines situated in key Gulf Coast market hubs for NGLs, refined products, and crude oil.
The company stated that it intends to link these pipelines to its existing NGL infrastructure in Mont Belvieu, Texas, and its refined products and crude oil infrastructure in Houston to enhance commercial synergies.
The transaction is set to conclude in mid-year 2024.
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