M&A Deal Summary

ONEOK Acquires Easton Energy - Gulf Coast NGL Pipelines

On May 13, 2024, ONEOK acquired energy services and equipment company Easton Energy - Gulf Coast NGL Pipelines from Easton Energy for 280M USD

Acquisition Highlights
  • This is ONEOK’s 3rd transaction in the Energy Services and Equipment sector.
  • This is ONEOK’s 3rd largest (disclosed) transaction.
  • This is ONEOK’s 3rd transaction in the United States.
  • This is ONEOK’s 1st transaction in Texas.

M&A Deal Summary
Date 2024-05-13
Target Easton Energy - Gulf Coast NGL Pipelines
Sector Energy Services and Equipment
Buyer(s) ONEOK
Sellers(s) Easton Energy
Deal Type Divestiture
Deal Value 280M USD

Target

Easton Energy - Gulf Coast NGL Pipelines

Houston, Texas, United States
Easton Energy's Gulf Coast NGL Pipelines includes approximately 450 miles of NGL pipelines located in the strategic Gulf Coast market centers for NGLs, refined products, and crude oil. Easton Energy's Gulf Coast NGL Pipelines is based in Houston, Texas.

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Buyer(S) 1

Buyer

ONEOK

Tulsa, Oklahoma, United States
Category Company
Founded 1906
Sector Energy Services and Equipment
Employees4,775
Revenue 17.7B USD (2023)
DESCRIPTION
ONEOK's corporate headquarters in Tulsa, Oklahoma.
ONEOK's corporate headquarters in Tulsa, Oklahoma.

ONEOK gathers, processes, stores, and transports natural gas in the US. The Company also owns one of the nation's premier natural gas liquids (NGL) systems, connecting NGL supply in the Mid-Continent and Rocky Mountain regions with a variety of market centers. ONEOK was formed in 1906 and is based in Tulsa, Oklahoma.

DEAL STATS #
Overall 3 of 3
Sector (Energy Services and Equipment) 3 of 3
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 3 of 3
Year (2024) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-14 Magellan

Tulsa, Oklahoma, United States

Magellan is a partnership that primarily transports, stores, and distributes refined petroleum products and crude oil. It owns a refined petroleum products pipeline system with access to nearly 50% of the nation's refining capacity and can store more than 100 million barrels of petroleum products such as gasoline, diesel fuel, and crude oil. Magellan was founded in 2000 and is based in Tulsa, Oklahoma.

Buy $18.8B

Seller(S) 1

SELLER

Easton Energy

Houston, Texas, United States
Category Company
Sector Energy Services and Equipment
DESCRIPTION

Easton Energy LLC is a midstream company focused on developing infrastructure assets that support the transportation, storage, and processing of natural gas liquids (NGL), refined products, and petrochemicals. Easton Energy is based in Houston, Texas.

DEAL STATS #
Overall 1 of 1
Sector (Energy Services and Equipment) 1 of 1
Type (Divestiture) 1 of 1
State (Texas) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-06 Williams Cos. - Gulf Coast Natural Gas Liquids Pipeline Systems

Tulsa, Oklahoma, United States

Williams Cos. Inc. - Gulf Coast Natural Gas Liquids Pipeline Systems includes natural gas liquids from various supply sources to petrochemical consumers in Texas and Louisiana markets.

Buy $177M
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