Who Owns ONEOK?
ONEOK is the master brand of ONEOK, Inc. (NYSE: OKE), one of the largest midstream energy companies in North America, headquartered in Tulsa, Oklahoma. Founded in 1906 as Oklahoma Natural Gas Company, the brand covers natural gas gathering and processing, NGLs, natural gas pipelines, and refined products and crude operations across an approximately 60,000-mile pipeline network. Parent FY2025 revenue was $33.6 billion.
United StatesOfficial Website
Who Owns ONEOK?
- Parent Company: ONEOK, Inc.
- Ownership Type: Brand division
- Company Type: Publicly Traded
- Stock Ticker: NYSE: OKE
| Brand | Parent Company | Ownership Type |
|---|---|---|
| ONEOK | ONEOK, Inc. | Brand division |
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History of ONEOK
- Founded: 1906
- Founders: Dennis T. Flynn, Charles B. Ames
ONEOK began in 1906 as Oklahoma Natural Gas Company, founded by Dennis T. Flynn and Charles B. Ames to move natural gas from Oklahoma fields to local customers. It operated as a regulated gas distribution utility for most of the twentieth century.
The company reorganized as ONEOK, Inc. in 1980, taking a name built from Oklahoma and Kansas. It moved beyond regulated distribution into gathering, processing, and interstate pipelines, and the ONEOK Partners master limited partnership drove midstream expansion before the entities consolidated in 2017.
The brand's modern transformation started in 2021 with an acquisition-led strategy. The September 2023 Magellan Midstream deal, valued at about $18.8 billion, added refined products and crude oil to the natural gas and NGL base. The 2024 acquisitions of Easton Energy's Gulf Coast NGL system and Medallion Midstream, plus the EnLink Midstream takeovers completed in January 2025, expanded the brand into the Permian Basin and Mid-Continent.
FY2025 was the transformed brand's first full year, producing $33.6 billion in revenue, up 55%, and record adjusted EBITDA of $8.02 billion.
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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 ONEOK Made / Based?
- Headquarters: Tulsa, Oklahoma, USA
ONEOK Categories & Tags
ONEOK Sustainability & Ethics
ONEOK's sustainability posture centers on pipeline safety, methane emissions management, and compliance across its expanded network. The company reports progress on emissions and participates in industry methane reduction initiatives.
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As fossil fuel infrastructure, the brand sits in the energy transition debate. Management frames natural gas and NGLs as essential to power generation and exports, while environmental groups press for reduced reliance on new hydrocarbon infrastructure.
Awards & Recognition
- Fortune 500: ONEOK ranks among the largest US companies by revenue.
- Record FY2025: Adjusted EBITDA of $8.02 billion and net income attributable to ONEOK of $3.39 billion.
ONEOK Recalls & Controversies
Acquisition leverage: The 2023-2025 acquisition program lifted total debt to $34.0 billion, a central focus of credit and investor scrutiny even as management highlights deleveraging progress.
Pipeline regulation: Expansion projects face FERC and PHMSA review plus landowner and environmental opposition common to new pipeline construction.
Inherited systems: The Magellan and EnLink networks carry their own safety and compliance histories, now managed under ONEOK's integrity programs.
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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 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
ONEOK Ownership: Pros & Cons
Advantages
- +One of the most integrated midstream brands in North America
- +Approximately 60,000 miles of pipeline across four commodity types
- +About 90% fee-based earnings provide stable cash flow
- +Record FY2025 adjusted EBITDA of $8.02 billion
- +Strategic Permian, Mid-Continent, and Gulf Coast connectivity
Considerations
- -$34.0 billion debt load from the acquisition program
- -Reported revenue volatility from commodity sales
- -Integration risk across multiple large acquired systems
- -Brand visibility is low outside the energy industry
- -Long-run fossil fuel demand uncertainty
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Frequently Asked Questions About ONEOK
Sources & Further Reading
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Competitors to ONEOK
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 |
|---|---|---|---|---|---|---|
| Kinder Morgan | USA | 1997 | Mass market | North america | All Genders | |
| Plains All American | USA | 1998 | Mass market | United states | All Genders | |
| Targa Resources | USA | 2005 | Mass market | United states | All Genders | |
| Oneok | USA | 2004 | Mass market | United states | All Genders | |
| Oneok | USA | 2000 | Mass market | United states | All Genders | |
| Oneok | USA | 2013 | Mass market | United states | All Genders |
Learn More About Competitors
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 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
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 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
Competitive Analysis
Market Positioning: ONEOK 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 ONEOK
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 ONEOK 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 ONEOK 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 ONEOK 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.
Latest News About ONEOK
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