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ONEOK posts higher third-quarter profit as acquisitions pay off
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ONEOK posts higher third-quarter profit as acquisitions pay off
Oct 28, 2025 2:50 PM

Oct 28 (Reuters) - U.S. pipeline operator ONEOK ( OKE )

reported a rise in third-quarter profit on Tuesday, helped by

robust volumes in the Rocky Mountain region as well as the

impact of a series of acquisitions.

ONEOK ( OKE ) has been diversifying its portfolio through

acquisitions over the past two years, including a Gulf Coast NGL

pipeline system from Easton Energy, as well as Medallion

Midstream and EnLink Midstream.

In June, ONEOK ( OKE ) completed its $940 million acquisition of the

remaining 49.9% stake in the Delaware Basin joint venture from

NGP XI Midstream Holdings, giving the company sole ownership of

natural gas gathering and processing facilities in West Texas

and New Mexico's Delaware Basin.

Core profit from the natural gas liquids segment rose nearly

20% to $748 million, while the natural gas gathering and

processing segment's core profit jumped roughly 78% to $566

million from a year earlier.

Its refined products and crude segment rose to $582 million

in core profit during the quarter, primarily driven by the

Medallion and EnLink acquisitions.

ONEOK ( OKE ) transports natural gas, natural gas liquids, refined

products and crude oil through its 60,000-mile-long network of

pipelines.

The Tulsa, Oklahoma-based company reported net income

attributable to shareholders of $939 million, or $1.49 per

share, for the quarter ended September 30, compared with $692

million, or $1.18 per share, a year earlier.

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