ONEOK, Inc. announced on December 31, 2024, the successful closing of the sale of its three wholly owned interstate natural gas pipeline systems to DT Midstream, Inc. The transaction was effective as of 11:59 p.m. Central on December 31, 2024.
The sale generated a total cash consideration of $1.2 billion, subject to customary adjustments. The divested assets include the Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission systems.
The net proceeds from this sale are expected to enhance ONEOK's financial flexibility and contribute to its progress toward achieving a previously announced leverage target of 3.5 times during 2026. This move represents a strategic optimization of the company's integrated asset portfolio.
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