1. Home >
  2. M&A >
  3. Merger >
  4. United States >
  5. Oklahoma >
  6. ONEOK Acquires Magellan

Merger • Energy Services and Equipment

ONEOK Acquires Magellan

On May 14, 2023, ONEOK acquired energy services and equipment company Magellan for 18.8B USD

Acquisition Context
  • This is ONEOK’s 2nd transaction in the Energy Services and Equipment sector.
  • This is ONEOK’s largest (disclosed) transaction.
  • This is ONEOK’s 2nd transaction in the United States.
  • This is ONEOK’s 2nd transaction in Oklahoma.

Explore All 83 Merger Energy Services and Equipment Deals - Search the Database Free


M&A Deal Summary
Date May 14, 2023
Target Magellan
Sector Energy Services and Equipment
Buyer(s) ONEOK
Deal Type Merger
Deal Value 18.8B USD
Advisor(s) Morgan Stanley (Financial)
Latham & Watkins
Richards, Layton & Finger (Legal)

Target Company

Magellan

Tulsa, Oklahoma, United States
Magellan office in Superior, Wisconsin.
Magellan office in Superior, Wisconsin.
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.
Explore More Deals

Browse All 215,130 Deals

FILTER BY

  • Buyer Type (PE or Strategic)
  • Deal Size ($10M to $10B+)
  • Sector (60 Sectors)
  • Deal Type
  • Geography
  • & More

Search Free

Buyer Overview 1

Buyer

ONEOK

Tulsa, Oklahoma, United States
Category Company
Founded 1906
Sector Energy Services and Equipment
Employees5,177
Revenue 21.7B USD (2024)
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 Context for Buyer #
Overall 2 of 5
Sector: Energy Services and Equipment 2 of 4
Type: Merger 2 of 3
State: Oklahoma 2 of 2
Country: United States 2 of 5
Year: 2023 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-01 ONEOK Partners

Tulsa, Oklahoma, United States

ONEOK Partners, L.P. is a publicly traded limited partnerships in the gathering, processing, storage and transportation of natural gas in the U.S. and owns one of the nation's premier natural gas liquids (NGL) systems, connecting much of the natural gas and NGL supply in the Mid-Continent with key market centers.

Buy $17.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-13 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.

Buy $280M

Explore Related M&A Activity

Energy Services and Equipment M&A - Merger M&A Deals - Oklahoma M&A - United States M&A - 2023 M&A

Mergr

Solution for

Product

Company

Legal