ONEOK, Inc. Overview
Pro stress-test →ONEOK delivers energy products and services as a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through its approximately 60,000-mile pipeline network, the company transports natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand.
Strategic Profile
Pro stress-test →Following its 2017 simplification that divested its natural gas distribution business, ONEOK has focused exclusively on midstream operations and continued expanding its NGL infrastructure through organic growth projects and strategic acquisitions. The company's financial profile is strong, underpinned by a resilient, fee-based business model, with approximately 90% of 2025 revenues projected to come from long-term, take-or-pay contracts.
Competitive Landscape
Pro stress-test →In natural gas liquids, ONEOK's primary competitors include Enterprise Products Partners (EPD), Energy Transfer (ET), and Kinder Morgan (KMI), with Enterprise Products Partners operating one of the largest NGL pipeline networks in North America. In natural gas gathering and processing, ONEOK competes with Targa Resources (TRGP), DCP Midstream (DCP), and Western Midstream Partners (WES).
Industry Context
ONEOK, Inc. operates in Midstream Energy Infrastructure.
Key facts
Founded: 1906 · Headquarters: Tulsa, US