© 2023 KGOU
News and Music for Oklahoma
Play Live Radio
Next Up:
Available On Air Stations

Oklahoma pipeline company ONEOK will acquire Magellan Midstream Partners in $18.8 billion deal


Two major energy infrastructure companies in Tulsa are about to become one.

ONEOK primarily deals with natural gas pipelines, while Magellan Midstream Partners mostly works with crude oil transportation. The newly combined company will do both.

The $18.8 billion dollar deal will result in an enterprise worth roughly $60 billion.

"We are excited about the future of our combined companies and look forward to welcoming Magellan's well-respected employees to ONEOK," Pierce H. Norton II, ONEOK president and chief executive officer, said in a press release.

Combined, ONEOK and Magellan have more than 25,000 miles of liquid pipeline with a heavy presence in the middle of the country.

Both are based in Tulsa and combined have thousands of employees. The deal is anticipated to close later this year.

This report was produced by the Oklahoma Public Media Exchange, a collaboration of public media organizations. Help support collaborative journalism by donating at the link at the top of this webpage.

Robby Korth grew up in Ardmore, Oklahoma and Fayetteville, Arkansas, and graduated from the University of Nebraska with a journalism degree.
Oklahoma Public Media Exchange
More News
Support nonprofit, public service journalism you trust. Give now.