Who Owns Medallion Midstream?
Medallion Midstream is owned by ONEOK, Inc. (NYSE: OKE), which acquired the company in 2024 for approximately $2.6 billion. Medallion operates the largest private crude oil gathering and transportation system in the Midland Basin of the Permian, connecting wellhead production to ONEOK's integrated midstream network. Parent FY2025 revenue was $33.6 billion.
Medallion Midstream Timeline
United StatesOfficial Website
Who Owns Medallion Midstream?
- Parent Company: ONEOK, Inc.
- Ownership Type: Wholly owned
- Acquisition Year: 2024
- Company Type: Publicly Traded
- Stock Ticker: NYSE: OKE
| Brand | Parent Company | Ownership Type |
|---|---|---|
| Medallion Midstream | ONEOK, Inc. | Wholly owned |
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History of Medallion Midstream
- Founded: 2013
- Founders: Medallion Midstream Partners
- Acquired by ONEOK, Inc.: 2024
Medallion Midstream was built as a private crude oil gathering company focused on the Midland Basin of the Permian, assembling the largest private crude gathering and transportation system in that basin — the most productive side of the most productive oil basin in the world.
ONEOK acquired it in late 2024 for approximately $2.6 billion, completing the Permian crude gathering leg of its strategy to connect wellhead production through its NGL, gas, and refined products systems to Gulf Coast demand and export.
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.
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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.
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.
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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 Medallion Midstream Made / Based?
- Headquarters: Dallas, Texas, USA
- Manufacturing / Operations: United States
Medallion Midstream Categories & Tags
Brands Owned by ONEOK, Inc.
Energy UtilitiesEnLink Midstream
Owned by ONEOK, Inc.
Gathering, processing, and transmission brand acquired by ONEOK for about $4.3 billion, completed January 2025, centered on Permian and Oklahoma positions.
midstreamnatural-gaspermian
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 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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Medallion Midstream Ownership: Pros & Cons
Advantages
- +Largest private Midland Basin crude gathering network
- +Connected into ONEOK's integrated crude and refined products chain
- +Fee-based gathering revenue under long-term contracts
- +Complementary with the same-year EnLink acquisition
Considerations
- -Concentrated Permian exposure to production cycles
- -Brand is being absorbed into the ONEOK identity
- -Gathering volumes depend on drilling activity levels
- -Integration complexity as a formerly private operator
Frequently Asked Questions About Medallion Midstream
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Sources & Further Reading
Competitors to Medallion 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 | 2004 | Mass market | United states | All Genders | |
| Plains All American | USA | 1998 | Mass market | United states | All Genders | |
| Oneok | USA | 2000 | Mass market | United states | All Genders | |
| Oneok | USA | 1906 | Mass market | United states | All Genders | |
| Enterprise Products Partners | USA | 1968 | Mass market | United states | All Genders | |
| Kinder Morgan | USA | 1997 | Mass market | North america | All Genders |
Learn More About Competitors
Energy UtilitiesEnLink Midstream
Owned by ONEOK, Inc.
Gathering, processing, and transmission brand acquired by ONEOK for about $4.3 billion, completed January 2025, centered on Permian and Oklahoma positions.
midstreamnatural-gaspermian
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
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 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 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
Competitive Analysis
Market Positioning: Medallion 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 Medallion 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 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 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 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 Medallion 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 Medallion 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 Medallion Midstream which is under a publicly traded parent company.
Energy UtilitiesJSW Energy
Owned by JSW Group
JSW Energy Limited is an Indian independent power producer and subsidiary of JSW Group, operating thermal, hydro, solar, and wind assets with over 10 GW of installed capacity and a target of 30 GW by 2030.
renewable-energysolarwind
Privately Owned
JSW Energy is privately owned, unlike Medallion Midstream which is under a publicly traded parent company.
ONEOK, Inc. Stock Information
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Jobs at ONEOK, Inc.
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