ONEOK completed the acquisition of Medallion Midstream from GIP for $2.6bn.

ONEOK, a midstream service provider, completed the acquisition of Medallion Midstream, a privately held crude gathering and transportation system, from GIP, a private equity firm, for $2.6bn. "ONEOK has a longstanding reputation as being intentional in building a premier energy infrastructure company, and today's transaction further solidify that status by adding complementary assets that allow us to continue expanding and extending our value chain," Pierce H. Norton II, ONEOK President and CEO.