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State: 17.08.2024 | 11PM
Thu, 31.10.2024       OneOK
US6826801036

Completes Acquisition of the Largest Privately Held Crude Oil Gathering and Transportation System in the Permian's Midland Basin

TULSA, Okla., Oct. 31, 2024 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced the successful completion of its acquisition of Medallion Midstream (Medallion) from Global Infrastructure Partners, for a total cash consideration of approximately $2.6 billion.

"With the acquisition of Medallion, the largest privately held crude gathering and transportation system in the Permian's Midland Basin, we continue our demonstrated track record of intentional and disciplined growth," said Pierce H. Norton II, ONEOK president and chief executive officer. "This acquisition further diversifies ONEOK's asset portfolio and adds an expansive and well-connected crude oil gathering system to our Permian Basin platform.

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