ONEOK, Inc. is a diversified corporation in the natural gas industry, operating primarily in the United States. As a Fortune 500 and S&P 500 company, ONEOK has a strong presence in the market. In addition to its core operations, ONEOK also owns a portfolio of subsidiary companies that contribute to its overall success.
Some of the subsidiary companies owned by ONEOK include:
- Guardian Pipeline: A major natural gas pipeline system.
- Magellan Midstream Partners: A company specialized in gathering, processing, and storing natural gas liquids.
- Viking Gas Transmission: An operator of a natural gas transmission system.
These subsidiaries add value to ONEOK’s business operations and help diversify its offerings in the natural gas industry.
Key Takeaways:
- ONEOK is a diversified corporation in the natural gas industry.
- ONEOK owns subsidiary companies such as Guardian Pipeline, Magellan Midstream Partners, and Viking Gas Transmission.
- These subsidiaries contribute to ONEOK’s overall business operations and diversify its offerings.
- ONEOK is listed on the Fortune 500 and S&P 500.
- ONEOK’s portfolio of subsidiary companies enhances its position in the market.
ONEOK Subsidiaries and Holdings
ONEOK owns several subsidiary companies in the natural gas industry. These subsidiaries include Guardian Pipeline, a major natural gas pipeline system, Magellan Midstream Partners, a company focused on gathering, processing, and storing natural gas liquids, and Viking Gas Transmission, which operates a natural gas transmission system. These companies are part of ONEOK’s portfolio and contribute to its overall business operations. ONEOK itself is a subsidiary of ONEOK, Inc., which is the parent company.
Guardian Pipeline is a crucial component of ONEOK’s operations, providing a reliable and efficient transportation system for natural gas. It spans approximately 700 miles across six states, delivering natural gas to various distribution customers and end-users.
Magellan Midstream Partners, on the other hand, plays a significant role in the gathering, processing, and storage of natural gas liquids (NGLs). They have an extensive network of assets, including pipelines, terminals, and storage facilities, strategically positioned to serve key markets across the United States. This enables ONEOK to efficiently transport and supply NGLs to customers and end-users.
ONEOK Subsidiaries and Holdings Overview:
| Subsidiary Company | Description |
|---|---|
| Guardian Pipeline | A major natural gas pipeline system spanning approximately 700 miles across six states. |
| Magellan Midstream Partners | Focused on gathering, processing, and storing natural gas liquids (NGLs) with an extensive network of assets across the United States. |
| Viking Gas Transmission | Operates a natural gas transmission system, ensuring the reliable delivery of natural gas. |
Viking Gas Transmission completes ONEOK’s subsidiary portfolio, contributing to the secure transmission of natural gas. Its transmission system connects various supply sources to major markets, ensuring a reliable and efficient flow of natural gas across the region.
Through its subsidiary companies, ONEOK maintains a diverse and comprehensive presence in the natural gas industry. These companies play vital roles in transporting, processing, and storing natural gas and natural gas liquids, strengthening ONEOK’s position as a leading player in the market.
ONEOK’s Energy Services Operations
ONEOK’s Energy Services operation plays a crucial role in the company’s overall business by focusing on marketing natural gas and related services throughout the United States. With its extensive experience and expertise in the natural gas industry, ONEOK is able to effectively market natural gas to various customers across the country.
Key Offerings:
- Natural Gas Marketing: ONEOK’s Energy Services operation derives a significant portion of its earnings from the physical marketing business. By effectively promoting and selling natural gas, ONEOK helps meet the demand for this essential energy resource.
- Customer Gas Choice Program: In Nebraska and Wyoming, Energy Services also runs a retail business that participates in customer gas choice programs. This initiative empowers customers by allowing them to select their natural gas supplier, offering flexibility and more options.
ONEOK’s focus on energy services and natural gas marketing contributes to the company’s overall success and growth. By catering to the needs of customers and providing reliable energy solutions, ONEOK continues to play a vital role in the natural gas industry.
| ONEOK’s Energy Services Operations | Description |
|---|---|
| Natural Gas Marketing | ONEOK’s Energy Services operation earns a significant portion of its revenue from the physical marketing business, effectively promoting and selling natural gas. |
| Customer Gas Choice Program | Energy Services participates in customer gas choice programs in Nebraska and Wyoming, giving customers the freedom to choose their natural gas supplier. |
History of ONEOK and Its Acquisitions
ONEOK, Inc. has a rich and storied history in the natural gas industry, tracing its roots back to the founding of Oklahoma Natural Gas Company in 1906. Since then, ONEOK has embarked on a journey of growth and expansion through strategic acquisitions.
One of the notable acquisitions was the purchase of Kansas utility Western Resources’ natural gas operations, which later became Kansas Gas Service. This acquisition further solidified ONEOK’s presence in the region and expanded its customer base.
Another significant milestone in ONEOK’s history was the acquisition of the Texas properties of Southern Union Gas, resulting in the establishment of Texas Gas Service. This move allowed ONEOK to extend its operations into the Lone Star State, positioning the company for continued success in the industry.
In 2014, ONEOK made a strategic decision to spin off its natural gas distribution companies, including Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Services. This move led to the creation of ONE Gas, a separate publicly traded company. The spin-off allowed ONEOK to refocus on its core operations and further drive growth in the natural gas sector.
Furthermore, in 2023, ONEOK completed a significant acquisition by acquiring Magellan Midstream Partners, solidifying its position as a major player in the natural gas industry. This acquisition further expanded ONEOK’s portfolio and enhanced its capabilities to serve customers across the United States.
FAQ
What companies does ONEOK own?
ONEOK owns several subsidiary companies in the natural gas industry, including Guardian Pipeline, Magellan Midstream Partners, and Viking Gas Transmission.
What are ONEOK’s subsidiaries and holdings?
ONEOK’s subsidiaries include Guardian Pipeline, Magellan Midstream Partners, and Viking Gas Transmission. These companies are part of ONEOK’s portfolio and contribute to its overall business operations. ONEOK itself is a subsidiary of ONEOK, Inc., which is the parent company.
What are ONEOK’s energy services operations?
ONEOK’s Energy Services operation focuses on marketing natural gas and related services throughout the United States. It derives a significant portion of its earnings from the physical marketing business. Energy Services also has a retail business that participates in customer gas choice programs in Nebraska and Wyoming, allowing customers to choose their natural gas supplier.
What is the history of ONEOK and its acquisitions?
ONEOK has a long history in the natural gas industry, with its predecessor, Oklahoma Natural Gas Company, being founded in 1906. Over the years, ONEOK has grown through various acquisitions, including the acquisition of Kansas utility Western Resources’ natural gas operations, which became Kansas Gas Service, and the acquisition of the Texas properties of Southern Union Gas, which became Texas Gas Service. In 2014, ONEOK spun off its natural gas distribution companies, including Oklahoma Natural Gas, Kansas Gas Service, and Texas Gas Services, into a separate publicly traded company called ONE Gas. In 2023, ONEOK completed the acquisition of Magellan Midstream Partners, further expanding its presence in the natural gas industry.