Oneok to Buy Rest of EnLink for $4.3 Billion in Common Stock (1)

US pipeline operator Oneok Inc. will buy the rest of EnLink Midstream LLC for $4.3 billion in common stock, the companies said in a joint statement.

The move is the latest in a spate of deals in the US oil and gas industry as private equity firms offload assets to corporate buyers. Oneok had said in August it would acquire Global Infrastructure Partners’ entire interest in EnLink and also buy GIP’s equity interests in Medallion Midtstream LLC. The purchases expand its presence in the Permian Basin.

Oneok expects its gas transport business to benefit from from higher power generation ...