Oneok Inc. has acquired the remaining stake in EnLink Midstream LLC for $4.3 billion in common stock, which is a significant development in the U.S. oil and gas sector.
This acquisition is part of a trend where private equity firms are selling assets to corporate buyers, indicating ongoing consolidation in the industry. In August, Oneok announced its plans to acquire Global Infrastructure Partners' entire interest in EnLink, as well as GIP's equity interests in Medallion Midstream LLC. These strategic purchases will expand Oneok's presence in the profitable Permian Basin and strengthen its position in the market.