ONEOK, Inc. (NYSE:OKE) entered into an agreement to acquire Gulf Coast Liquids Pipeline System of Easton Energy LLC for approximately $280 million on May 13, 2024. The purchase price is subject to customary price adjustments. The transaction includes approximately 450 miles of NGL pipelines located in the strategic Gulf Coast market centers for NGLs, refined products and crude oil. Easton will retain, and continue operating, its natural gas liquids (NGL) and olefins storage business located in Markham, Texas. Closing is subject to customary conditions including termination or expiration of the waiting periods under the Hart-Scott-Rodino Antitrust Improvements Act. ONEOK and Easton expect to close the transaction mid-year 2024.

Hugh Tucker, Jeremy Kennedy, John Craven, Jennifer Wisinski (Corporate), Larry Shosid, Brandon Jones, David Ammons, Stephen Grant, Michael Lombardino, and Brian Giovannini of Haynes and Boone, LLP acted as legal advisors to ONEOK. Archie Fallon and Aaron Savella of Willkie Farr & Gallagher LLP acted as legal advisor to Easton Energy LLC.