Energy Sector in Focus: ONEOK Accelerates Growth with Strategic Acquisitions

In an overwhelmingly positive year for ONEOK, the company has once again revised its financial forecast for 2024 upwards. The energy infrastructure corporation is showcasing growth that exceeds expectations—driven by the strategic acquisitions of EnLink and the planned takeover of Medallion. ONEOK's Executive Vice President, Sheridan Swords, emphasized the tremendous potential of these acquisitions, which will create a fully integrated platform in the Permian Basin and enable new service offerings. The remarkable increase in stand-alone EBITDA for 2024 reflects not only the synergies from the previous Magellan acquisition but also a doubling compared to five years ago. This underscores the discipline and innovative spirit of the employees, as well as the quality of the company's assets and organic growth projects. Chief Financial Officer Walt Hulse reported a solid third quarter, with net income reaching $693 million. The refined products and crude oil segments were particularly impressive, with record volumes. Optimistic forecasts for 2025 predict an EBITDA of over $8 billion—twice as much as before the Magellan acquisition. The strategic expansion of the company goes hand in hand with a stable capital strategy that, despite the acquisitions, allows room for share buybacks. The connection and integration of new assets, including the Easton Energy NGL assets, will further enhance ONEOK's value creation potential. Core pieces of the infrastructure projects, such as the pipeline expansions in West Texas and Elk Creek and the systems in Oklahoma and Louisiana, are also in focus to ensure growth both in the short and long term. At the same time, ONEOK remains agile in responding to macroeconomic trends and local market conditions. By seizing new opportunities and efficiently integrating existing synergies, ONEOK demonstrates how targeted strategic management succeeds and anticipates further successes as the company continues to grow steadily in the coming months.