Who Owns EnLink Midstream?
EnLink Midstream is owned by ONEOK, Inc. (NYSE: OKE), which completed its acquisition of the company in January 2025 in a transaction valued at approximately $4.3 billion. Headquartered in Dallas, Texas, EnLink operates natural gas gathering, processing, and transmission systems in the Permian Basin and Mid-Continent, plus NGL and crude businesses, now integrated into ONEOK's network. Parent FY2025 revenue was $33.6 billion.
EnLink Midstream Timeline
United StatesOfficial Website
Who Owns EnLink Midstream?
- Parent Company: ONEOK, Inc.
- Ownership Type: Wholly owned
- Acquisition Year: 2025
- Company Type: Publicly Traded
- Stock Ticker: NYSE: OKE
| Brand | Parent Company | Ownership Type |
|---|---|---|
| EnLink Midstream | ONEOK, Inc. | Wholly owned |
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History of EnLink Midstream
- Founded: 2004
- Founders: Crosstex Energy
- Acquired by ONEOK, Inc.: 2025
EnLink traces to Crosstex Energy, a Dallas midstream company that combined with Devon Energy's midstream assets in 2014 to form EnLink Midstream, keeping Devon as a major unitholder. The partnership operated gathering, processing, and transmission in the Permian, Oklahoma, North Texas, and the Gulf Coast.
The company was taken private by ONEOK in two steps: a controlling-interest purchase in November 2024 (roughly $3.3 billion for Devon's and other interests), then the January 31, 2025 completion acquiring all publicly held ENLC units tax-free, valuing the full business at about $4.3 billion.
Under ONEOK the EnLink systems connect to the NGL and crude networks added through Magellan and Medallion, filling the Permian and Mid-Continent legs of the integrated "well to water" strategy.
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About ONEOK, Inc.
What does ONEOK do?
ONEOK gathers, processes, transports, and stores natural gas, natural gas liquids, refined petroleum products, and crude oil through an approximately 60,000-mile pipeline network in the United States.
Is ONEOK publicly traded?
Yes. ONEOK, Inc. trades on the NYSE under ticker OKE and is a component of the S&P 500.
What does ONEOK stand for?
The name combines Oklahoma and Kansas, reflecting the company's original service territory. It was adopted in 1980 when Oklahoma Natural Gas Company reorganized.
Who founded ONEOK?
Dennis T. Flynn and Charles B. Ames founded the company in 1906 as Oklahoma Natural Gas Company in Oklahoma.
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What is ONEOK's revenue?
ONEOK reported FY2025 revenue of $33.6 billion, up 55% year over year on a full contribution from the EnLink acquisition. Net income attributable to ONEOK was $3.39 billion and adjusted EBITDA was $8.02 billion.
What companies has ONEOK acquired?
Major acquisitions include Magellan Midstream Partners ($18.8 billion, September 2023), Easton Energy's NGL system (2024), Medallion Midstream ($2.6 billion, 2024), and EnLink Midstream ($4.3 billion, completed January 2025), plus additional stakes in BridgeTex and the Delaware Basin joint venture in 2025.
Who is the CEO of ONEOK?
Pierce H. Norton II has served as President and CEO since 2021, leading the company's acquisition-driven expansion into an integrated midstream platform.
- Founded: 1906
- Headquarters: Tulsa, Oklahoma, USA
- Company Type: Publicly Traded
- Stock: NYSE: OKE
- Revenue: $33.6 billion (FY2025)
- Employees: approximately 5,900
Where Is EnLink Midstream Made / Based?
- Headquarters: Dallas, Texas, USA
- Manufacturing / Operations: United States
EnLink Midstream Categories & Tags
Brands Owned by ONEOK, Inc.
Energy UtilitiesMagellan Midstream
Owned by ONEOK, Inc.
Refined products and crude oil pipeline brand acquired by ONEOK in September 2023 for $18.8 billion, adding products pipelines to its network.
pipelinesrefined-productscrude-oil
Energy UtilitiesMedallion Midstream
Owned by ONEOK, Inc.
Permian Basin crude oil gathering system acquired by ONEOK in 2024 for $2.6 billion, the largest private Midland Basin gathering network.
midstreamcrude-oilpermian
Energy UtilitiesONEOK
Owned by ONEOK, Inc.
Master brand of ONEOK, Inc., the Tulsa midstream company running a 60,000-mile network for natural gas, NGLs, refined products, and crude oil.
pipelinesmidstreamnatural-gas
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EnLink Midstream Ownership: Pros & Cons
Advantages
- +Strong Permian and Oklahoma gathering/processing positions
- +Connected into ONEOK's NGL and crude downstream network
- +Stable fee-based volumes under long-term contracts
- +Complementary with Medallion and Magellan systems
Considerations
- -Basin-concentrated exposure to Permian production cycles
- -Brand is being absorbed into the ONEOK master identity
- -Commodity-linked volume risk despite fee contracts
- -Integration complexity across legacy Devon-era assets
Frequently Asked Questions About EnLink Midstream
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Sources & Further Reading
Competitors to EnLink Midstream
These competing brands operate in the same categories and provide similar products or services. Compare key attributes to understand market positioning and competitive landscape.
| Brand | Parent Company | Country | Founded | Market Position | Primary Market | Gender Target |
|---|---|---|---|---|---|---|
| Oneok | USA | 2013 | Mass market | United states | All Genders | |
| Kinder Morgan | USA | 1997 | Mass market | North america | All Genders | |
| Oneok | USA | 1906 | Mass market | United states | All Genders | |
| Enterprise Products Partners | USA | 1968 | Mass market | United states | All Genders | |
| Plains All American | USA | 1998 | Mass market | United states | All Genders | |
| Targa Resources | USA | 2005 | Mass market | United states | All Genders |
Learn More About Competitors
Energy UtilitiesMedallion Midstream
Owned by ONEOK, Inc.
Permian Basin crude oil gathering system acquired by ONEOK in 2024 for $2.6 billion, the largest private Midland Basin gathering network.
midstreamcrude-oilpermian
Energy UtilitiesKinder Morgan
Owned by Kinder Morgan, Inc.
Corporate and operating brand of Kinder Morgan, Inc., the largest natural gas pipeline company in North America.
pipelinesmidstreamnatural-gas
Energy UtilitiesONEOK
Owned by ONEOK, Inc.
Master brand of ONEOK, Inc., the Tulsa midstream company running a 60,000-mile network for natural gas, NGLs, refined products, and crude oil.
pipelinesmidstreamnatural-gas
Energy UtilitiesEnterprise Products
Owned by Enterprise Products Partners L.P.
Enterprise Products is the operating brand of Enterprise Products Partners L.P., the Houston midstream partnership running 50,000-plus miles of energy pipelines.
pipelinesmidstreamnatural-gas-liquids
Energy UtilitiesPlains All American
Owned by Plains All American Pipeline, L.P.
Plains All American is the operating brand of Plains All American Pipeline L.P., one of North America's largest crude oil midstream companies.
pipelinesmidstreamcrude-oil
Conglomerates IndustrialTarga Resources
Owned by Targa Resources Corp.
Corporate brand of Targa Resources Corp., the Houston midstream company operating Permian gas processing and the Mont Belvieu NGL complex.
midstreamnatural-gasngl
Competitive Analysis
Market Positioning: EnLink Midstream competes with 6 brands in the same categories, ranging from mass market to luxury positioning.
Geographic Distribution: Competitors are headquartered across multiple regions, indicating global competition in this market segment.
Brand Heritage: Competitor brands range from established heritage brands to newer market entrants, with founding years spanning several decades.
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Independent Alternatives to EnLink Midstream
Looking for brands with different ownership structures? These similar brands are not owned by ONEOK, Inc., giving you alternative choices that support different corporate structures.
Energy UtilitiesKinder Morgan
Owned by Kinder Morgan, Inc.
Corporate and operating brand of Kinder Morgan, Inc., the largest natural gas pipeline company in North America.
pipelinesmidstreamnatural-gas
Publicly Traded
Kinder Morgan operates independently without a large parent corporation.
Energy UtilitiesPlains All American
Owned by Plains All American Pipeline, L.P.
Plains All American is the operating brand of Plains All American Pipeline L.P., one of North America's largest crude oil midstream companies.
pipelinesmidstreamcrude-oil
Publicly Traded
Plains All American operates independently without a large parent corporation.
Energy UtilitiesAdani Green Energy
Owned by Adani Group
Adani Green Energy Limited (AGEL) is India's largest renewable energy company by installed capacity, listed on the National Stock Exchange and BSE. It develops, builds, and operates solar and wind power plants across India.
renewable-energysolarwind
Privately Owned
Adani Green Energy is privately owned, unlike EnLink Midstream which is under a publicly traded parent company.
Energy UtilitiesAdani Power
Owned by Adani Group
India's largest private thermal power producer, operating approximately 17,550 megawatts of installed capacity across eight states, listed on NSE and BSE.
power-generationenergythermal-power
Privately Owned
Adani Power is privately owned, unlike EnLink Midstream which is under a publicly traded parent company.
Energy UtilitiesCenex
Owned by CHS Inc.
American fuel, lubricant, and convenience store brand owned by CHS Inc., the nation's largest farmer-owned cooperative, operating roughly 1,400 locations across 19 states.
fuelgas-stationsconvenience-stores
Privately Owned
Cenex is privately owned, unlike EnLink Midstream which is under a publicly traded parent company.
Energy UtilitiesCheniere Energy
Owned by Cheniere Energy, Inc.
Operating brand of Cheniere Energy, Inc., the largest US liquefied natural gas producer running the Sabine Pass and Corpus Christi export terminals.
lngnatural-gasenergy-export
Publicly Traded
Cheniere Energy operates independently without a large parent corporation.
ONEOK, Inc. Stock Information
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Jobs at ONEOK, Inc.
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