SUBSCRIBE
PROFILE

ONEOK posts higher results and invests in growth in the second quarter of 2025

ONEOK reports net profit of $841mn in the second quarter of 2025, supported by the integration of EnLink and Medallion acquisitions and rising volumes in the Rockies, while maintaining its financial targets for the year.

Share:

Gain full professional access to energynews.pro from 4.90$/month.
Designed for decision-makers, with no long-term commitment.

Over 30,000 articles published since 2021.
150 new market analyses every week to decode global energy trends.

Monthly Digital PRO PASS

Immediate Access
4.90$/month*

No commitment – cancel anytime, activation in 2 minutes.

START NOW — 4.90$/month

*Special launch offer: 1st month at the indicated price, then 14.90 $/month, no long-term commitment.

Annual Digital PRO Pass

Full Annual Access
99$/year*

To access all of energynews.pro without any limits

SUBSCRIBE — 99$/year

*Introductory annual price for year one, automatically renewed at 149.00 $/year from the second year.

Sign up for free to unlock this article

ONEOK recorded a notable increase in its financial results for the second quarter of 2025, with attributable net profit of $841mn and adjusted earnings before interest, taxes, depreciation and amortisation (EBITDA) of $1.98bn. The performance was driven by the contribution from the recent acquisitions of EnLink Midstream LLC (EnLink) and Medallion, as well as an 11% increase in natural gas liquids (NGL) raw feed throughput in the Rocky Mountain region.

Acquisitions and deleveraging support ONEOK’s strategy

During the quarter, ONEOK completed the purchase of the remaining 49.9% interest in Delaware G&P LLC (Delaware Basin JV), further strengthening its position in the Permian Basin. At the same time, the company repaid nearly $600mn in bond debt, including the repurchase of $169mn in senior notes and the maturity repayment of $422mn in 4.15% notes. The group also increased its stake in BridgeTex Pipeline Company, LLC to 60%, continuing its strategic infrastructure expansion.

Management confirmed that the strength of the balance sheet and the diversification of revenue streams enabled ONEOK to maintain its financial objectives for 2025. The group reported cash and cash equivalents of $97mn and no utilisation of its $3.5bn credit facility at quarter-end.

Segment performance and investments

The natural gas liquids segment generated adjusted EBITDA of $673mn for the quarter, mainly driven by a $50mn contribution from EnLink. However, this growth was tempered by lower average fee rates in the Mid-Continent region and increased inventory due to unplanned outages. Investments in this segment amounted to $135mn.

In the refined products and crude oil sector, adjusted EBITDA reached $557mn, supported by the combined contribution of Medallion and EnLink. Capital expenditures in this area amounted to $184mn. The natural gas gathering and processing segment saw a marked increase, with adjusted EBITDA of $540mn and investments of $341mn, benefiting from the integration of EnLink and higher volumes, despite the divestment of non-strategic assets in 2024.

Market positioning and outlook

The natural gas pipelines segment generated adjusted EBITDA of $188mn, strengthened by the integration of EnLink, while the divestment of an interstate pipeline limited this growth. The strategy of targeted acquisitions and rapid deleveraging demonstrates ONEOK’s aim to optimise its capital structure and meet the growing demand for energy infrastructure.

ONEOK also announced the payment of a quarterly dividend of $1.03 per share, or $4.12 annualised. The group’s operations continue to be supported by a stable customer base and a diversified geographical footprint, with a reinforced presence in key gas and liquids markets.

  • Popular on energynews.pro
Two consortia submit applications for Utsira Nord floating wind tender
Odyssey receives $7.5 million from BII to fund solar mini-grids in Nigeria
Cameroon boosts solar capacity with additional 28.6 MWp in Maroua and Guider
Nigeria and Libya study 3,300 km gas pipeline to connect to Europe
Orazul Energy launches cash tender offer for its 2027 notes
China–Russia: Beijing secures a gas hedge with PoS2 and LNG cargoes
Shipments of liquefied natural gas and higher pipeline flows strengthen China’s gas optionality, while testing the sanctions regime and reshaping price–volume trade-offs for the next decade.
Canada fast-tracks five major energy and mining projects
The Canadian government aims to reduce approval delays for strategic projects, including liquefied natural gas, nuclear and mining operations, amid growing trade tensions with the United States.
Sub-Saharan Africa LNG exports expected to triple by 2034
Liquefied natural gas exports in sub-Saharan Africa will reach 98 bcm by 2034, driven by Nigeria, Mozambique, and the entry of new regional producers.
Angola invests in natural gas despite technical challenges at Soyo
Backed by an ambitious public investment plan, Angola is betting on gas to offset declining oil output, but the Angola LNG plant in Soyo continues to face operational constraints.
Finland criticises Hungary and Slovakia over Russian oil purchases
Finnish President Alexander Stubb denounced fossil fuel imports from Russia by Hungary and Slovakia as the EU prepares its 19th sanctions package against Moscow.
JERA targets 20-year contract for Alaskan LNG with Glenfarne
Japanese giant JERA has signed a letter of intent to purchase one million tonnes of LNG per year from Alaska, as part of a strategic energy agreement with the United States.
Chevron and HelleniQ Energy submit joint bid for four gas blocks off Crete
US-based Chevron has submitted a bid with HelleniQ Energy to explore four offshore blocks south of Crete, marking a new strategic step in gas exploration in the Eastern Mediterranean.
GTT wins contract for LNG tanks on floating unit in Africa
GTT has been selected by Samsung Heavy Industries to design cryogenic tanks for a floating natural gas liquefaction unit, scheduled for deployment at an offshore site in Africa.
BlackRock and partners target $10.3 billion for Aramco gas deal financing
A consortium led by BlackRock is in talks to raise up to $10.3 billion to finance a gas infrastructure deal with Aramco, including a dual-tranche loan structure and potential sukuk issuance.
TotalEnergies strengthens its presence in the United States with Rio Grande LNG Train 4
TotalEnergies commits to Train 4 of the Rio Grande LNG project in Texas, consolidating its position in liquefied natural gas with a 10% direct stake and a 1.5 Mtpa offtake agreement.
EQT signs 20-year deal for 1 Mtpa LNG with Commonwealth LNG
US producer EQT has secured a twenty-year liquefied natural gas supply contract with Commonwealth LNG, tied to a Gulf Coast terminal under development.
TotalEnergies confirms imminent investment decision for new LNG train in Texas
The Chief Executive Officer of TotalEnergies said that NextDecade would formalise on Tuesday a final investment decision for a new liquefaction unit under the Rio Grande LNG project in the United States.
McDermott wins major contract for $25bn gas liquefaction unit in Louisiana
Monkey Island LNG has awarded McDermott the design of a gas terminal with a potential capacity of 26 MTPA, using a modular format to increase on-site output density and reduce execution risks.
Two sanctioned Russian LNG carriers deliver to China despite restrictions
The Voskhod and Zarya vessels, targeted by Western sanctions, departed China’s Beihai terminal after potentially offloading liquefied natural gas from the Arctic LNG 2 project.
ADNOC Gas joins FTSE Emerging Index, unlocking up to $250mn in investments
ADNOC Gas will join the FTSE Emerging Index on September 22, potentially unlocking up to $250mn in liquidity, according to market projections.
BlueNord lowers Tyra production guidance for Q3 2025
Norwegian company BlueNord has revised downward its production forecasts for the Tyra gas field for the third quarter, following unplanned outages and more impactful maintenance than anticipated.
Monkey Island LNG integrates ConocoPhillips technology in strategic agreement
Monkey Island LNG adopts ConocoPhillips' Optimized Cascade® process for its 26 MTPA terminal in Louisiana, establishing a technology partnership focused on operational efficiency and competitive gas export pricing.
NextDecade signs 20-year LNG deal with EQT for 1.5 MTPA from Train 5
NextDecade has signed a liquefied natural gas supply agreement with EQT for 1.5 million tonnes annually from Rio Grande LNG Train 5, pending a final investment decision.
Sawgrass LNG extends supply contract with Barbados until 2030
Sawgrass LNG & Power has renewed its liquefied natural gas supply agreement with state-owned BNECL, consolidating a commercial cooperation that began in 2016.
Gazprom and CNPC seal binding agreement for the Power of Siberia 2 project
Gazprom and China National Petroleum Corporation have signed a binding memorandum to build the Power of Siberia 2 pipeline, set to deliver 50 bcm of Russian gas per year to China via Mongolia.

Log in to read this article

You'll also have access to a selection of our best content.