ONEOK, Inc. OKE

Company Overview

ONEOK, Inc. is a publicly traded U.S. midstream energy company primarily engaged in the gathering, processing, fractionation, transportation, storage, and marketing of natural gas and natural gas liquids (NGLs). The company operates within the midstream energy and energy infrastructure industries, serving producers, utilities, refiners, and petrochemical customers. Its core revenue drivers are fee-based contracts tied to volumes transported and processed across its extensive pipeline and storage network.

The company’s strategic positioning is centered on large-scale, integrated NGL and natural gas systems that connect major U.S. production basins to key demand and export markets. ONEOK traces its origins to 1906, when it was founded as Oklahoma Natural Gas Company. Over time, it evolved from a regulated utility into a diversified midstream operator, notably consolidating its structure in 2017 through the acquisition of ONEOK Partners, and further expanding its asset base with the acquisition of Magellan Midstream Partners in 2023.