DT Midstream to acquire three FERC-regulated natural gas transmission pipelines from ONEOK for $1.2bn.

DT Midstream, an owner, operator and developer of natural gas interstate and intrastate pipelines, agreed to acquire three FERC-regulated natural gas transmission pipelines from ONEOK, a midstream service provider that gathers, processes, transports, and stores natural gas and natural gas liquids, for $1.2bn. “Expanding our scale through this bolt-on natural gas pipeline acquisition fully aligns with our pure play natural gas strategy. This transaction also increases the revenue contribution from our pipeline segment, supported by take-or-pay contracts with strong credit quality utility customers. We look forward to welcoming the team members that support these premier assets, both in field operations and in DT Midstream’s new Tulsa office,” David Slater, DT Midstream President and CEO.