DT Midstream, Inc. announced on December 31, 2024, the successful closing of its acquisition of a portfolio of three FERC-regulated natural gas transmission pipelines from ONEOK, Inc. The transaction, valued at $1.2 billion in cash, became effective at 11:59 p.m. CT on December 31, 2024.
The acquired assets include Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission, which collectively boast a total capacity of over 3.7 Bcf/d and span approximately 1,300 miles across seven states in the Midwest market region. This expansion significantly enhances DT Midstream's operational footprint.
This bolt-on acquisition aligns with DT Midstream's pure-play natural gas strategy and is expected to increase the revenue contribution from its pipeline segment, supported by take-or-pay contracts with strong credit quality utility customers. The company also welcomed the team members supporting these assets, including those in a new Tulsa office.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.