EnLink Midstream Partners, LP
ENLK
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ROIC.AI
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- EnLink Midstream Partners, LP (ENLK) operates as a master limited partnership providing midstream energy services, including natural gas gathering, compression, treating, processing, transmission, and transportation; natural gas liquids fractionation, storage, and marketing; crude oil gathering, stabilization, transportation, and storage; brine disposal; and CO2 transportation for carbon capture and sequestration. The partnership connects producers' wells to gathering systems, processes natural gas to remove NGLs, fractionates NGLs into purity products, markets those products, and transports commodities to utilities, industrial consumers, pipelines, and other end-users via approximately 11,000 miles of pipelines, 20 natural gas processing plants, seven fractionators, barge and rail terminals, product storage facilities, a crude oil trucking fleet, and associated infrastructure. EnLink serves producers and customers across premier basins such as the Permian Basin, Anadarko Basin (including Oklahoma and North Texas), Haynesville Shale, and Louisiana demand centers. Founded in 1992 as Crosstex Energy L.P. (with a major restructuring and name change to EnLink Midstream Partners, LP in March 2014 following a combination of Devon Energy's midstream assets), the partnership is headquartered in Dallas, Texas, and historically operated as a subsidiary under EnLink Midstream GP, LLC as its general partner. In recent developments, ONEOK, Inc. completed the acquisition of Global Infrastructure Partners' entire interest in EnLink for approximately $3.3 billion in cash on October 15, 2024, increasing ONEOK's ownership to a controlling stake. Subsequently, on November 25, 2024, ONEOK announced and entered a definitive agreement to acquire all remaining publicly held common units of EnLink (including ENLK) for $4.3 billion in ONEOK common stock, with the Conflicts Committee and Board of EnLink unanimously approving the transaction; completion occurred on January 31, 2025, fully integrating EnLink into ONEOK and delisting ENLK from public trading. These moves represent a major strategic consolidation, expanding ONEOK's integrated platform in the Permian Basin, Mid-Continent, North Texas, and Louisiana while enhancing scale in gathering, processing, and NGL infrastructure.