ONEOK to Buy Houston Area Pipeline System

ONEOK Inc. announced that it has agreed to acquire a natural gas liquids (NGL) pipeline system from Easton Energy, a Houston-based midstream company, for approximately $280 million, subject to customary price adjustments. ‘purchase.

The transaction includes approximately 450 miles of NGL pipelines located in Gulf Coast market centers for NGLs, refined products and crude oil. These pipelines transport a wide range of liquid products on a portion of its capacity to existing customers.

ONEOK plans to connect the pipelines to ONEOK’s Mont Belvieu, Texas-based NGL infrastructure and ONEOK’s Houston refined products and crude oil infrastructure, “accelerating business synergies,” a press release states .

“This strategic acquisition provides the fastest pipeline connectivity to and within critical centers of supply and demand for our NGLs, refined products and crude oil assets on the Gulf Coast,” said Pierce H. Norton II , President and CEO of ONEOK, in the release.

“We expect this acquisition to accelerate the ability to generate business synergies related to our recent acquisition of Magellan and future earnings growth.”

ONEOK expects to complete the transaction by mid-year. Closing is subject to customary conditions, including termination or expiration of waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act.

Gov. Kevin Stitt signed House Bill 3089, introduced by Rep. Mark Tedford, R-Tulsa, and sponsored by Sen. Dewayne Pemberton, R-Muskogee, which aims to provide financial grants to build or renovate homes, thus making them more resilient. against the destructive forces of tornadoes, windstorms and hail.

Under the new law, known as the Strengthen Oklahoma Homes Act, grants will be provided by the Oklahoma Department of Insurance to residential property owners who meet specific eligibility criteria, including a primary residence single-family home occupied by its owner.

The grants are intended to help homeowners meet safety standards set by the Insurance Institute for Business and Home Safety.

“The recent destruction we’ve seen across our state is a serious reminder of why this legislation will be so important in helping Oklahomans rebuild and protect their homes from the elements,” said Insurance Commissioner Glen Mulready.

“I’m grateful to legislative leaders and the governor for understanding our goal to help Oklahoma consumers, lower their home insurance rates and fortify their homes against mother nature.”

The new grant program created by the law will be in development until the end of the year, with the first grants disbursed in 2025.

Direct 2 Completion (D2C), a program manager and owner’s representative in the construction industry, announced the opening of a second office in Oklahoma City’s Historic Auto Alley.

The expansion comes as the company’s customer base has expanded statewide since its founding in 2021 and its team has grown from four to more than a dozen employees in Tulsa and Oklahoma City . D2C’s expansion into Oklahoma City underscores its commitment to providing its unique services to clients throughout Oklahoma, a press release states.

“The opening of our second office in Oklahoma City’s historic Automobile Alley marks a significant milestone for D2C,” said President WC Gernandt. “This reflects our commitment to serving our customers across the state and beyond while providing greater accessibility and support to our growing customer base.”

D2C oversees various aspects of the design and construction process, including planning, budget and schedule reviews, commissioning, third-party consultant management, and coordination and communication among all project stakeholders.

As a certified Native business with multiple tribal governments, business and industry groups, D2C “is deeply rooted in its commitment to excellence and community,” the release said.

The company employs citizens of several tribal nations and holds numerous industry certifications. The Southwest Minority Supplier Development Council recently designated D2C as a Certified Minority Business Enterprise.