Integrated energy midstream network
ONEOK, Inc.
ONEOK earns commodity sales and service fees by gathering, processing, transporting, and storing natural gas, natural gas liquids, refined products, and crude oil. Its major outlays include commodity purchases, third-party transportation, fractionation and storage, and the construction and upkeep of pipelines and processing facilities.
OKE Updated Sep 11, 2026 3 AI consumers· 3 recurring
Per the valuechain.wiki graph, ONEOK, Inc. is directly linked to 2 companies (0 supply, 0 revenue, 2 investment relationships) and reaches 9 companies within two hops; the links are backed by 9 dated sources, 4 of them primary filings (as of 2026-09-11).
Financials & Segments
- Total revenue · FY2025 consolidated revenue of $33.629 billion
- Segments · Natural Gas Gathering and Processing · Natural Gas Liquids · Natural Gas Pipelines · Refined Products and Crude
Revenue from
- BKV Corporation High confidence· Market share 95% · FY2025 · Share of natural gas from BKV's Devon-acquired Barnett assets gathered and transported by ONEOK
ONEOK gathers and transports about 95% of the natural gas from BKV's Devon-acquired Barnett assets under contracts covering the Bridgeport, Ponder, and Jarvis systems. The Bridgeport agreement expires in 2033, but counterparty-specific fees are not disclosed. - Comisión Federal de Electricidad (CFE) High confidence
CFE is the anchor customer of the Roadrunner gas pipeline, in which ONEOK owns a 50% interest. A 25-year firm transportation agreement subscribed the initial design, but CFE's contract consideration is not disclosed.Confirms EN ONEOK Published May 5, 2015: ONEOK Partners Announces First-quarter 2015 Results; Reaffirms 2015 Financial Guidance
Pays to
- Corval Group Medium confidence· Count 19 compressor_stations · six-year EPC program · Number of ONEOK compressor stations served under Corval's EPC program
Corval provided engineering, procurement, construction, and commissioning services across more than 19 ONEOK compressor stations in western North Dakota. The contract value is not disclosed.Confirms EN Corval Group Published Jul 20, 2021: ONEOK Rockies Midstream, LLC - Compressor Station Program - WHC Energy Services LLC Medium confidence
WHC Energy Services performed pipeline construction for the Delaware Basin extension and looping projects on the ONEOK-controlled West Texas LPG Pipeline. The contractor-specific consideration is not disclosed.
Investors
- Apollo Global Management High confidence· Amount $9B · minority equity investment closed 2026-09-10 · Apollo-managed funds' and affiliates' investment for a Class B minority interest in ONEOK Holdings
Apollo-managed funds and affiliates invested $9 billion in September 2026 for a nonvoting Class B minority interest in ONEOK Holdings. The investment has closed and is structurally subordinate to ONEOK's senior debt. - BlackRock High confidence· Market share 9% · 2026 proxy statement major shareholders table · BlackRock's beneficial ownership percentage reported in ONEOK's proxy statement
ONEOK's 2026 proxy lists BlackRock as a holder of more than 5% of the company, with a reported 9.00% stake. The figure is based on BlackRock's Schedule 13G/A filed in January 2024.
Investments
- EnLink Midstream, LLC High confidence· Amount $4B · acquisition completed 2025-01-31 · Acquisition-date fair value of ONEOK common shares issued for EnLink's publicly held units
ONEOK acquired the publicly held EnLink units in January 2025 through a share exchange, making EnLink wholly owned. The acquisition-date fair value of the ONEOK shares issued was $4.0 billion.Mentions KO iM Securities Research Center Published Sep 3, 2024: The Most Promising Natural Gas Midstream Company Amid Rising Power Demand
Value-chain ripple (2 tiers)
Following node-to-node links up to 2 tiers; each firm is shown once, at its nearest tier.
| Company | Chain | '21 | '22 | '23 | '24 | '25 | YTD |
|---|---|---|---|---|---|---|---|
| ONEOK, Inc. | node | +64.7 | +18.9 | +13.2 | +50.1 | -22.9 | +34.8 |
| BlackRock | benef1 | +29.4 | -20.4 | +17.9 | +29.3 | +6.6 | +6 |
| Apollo Global Management | benef1 | +53.2 | -9.6 | +49.4 | +79.9 | -11.1 | -6.5 |
| Marathon Petroleum Corporation | benef2 | +61 | +86.6 | +30.5 | -4.1 | +19.2 | +141.9 |
| Targa Resources Corp. | benef2 | +100.1 | +43.7 | +21 | +110.1 | +5.7 | +59.5 |
| Ross Stores | benef2 | -6 | +2.9 | +20.6 | +10.4 | +20.4 | +28.6 |
| Altria Group, Inc. | benef2 | +24.2 | +4.4 | -3.7 | +40.8 | +18.2 | +23.3 |
| Elevance Health, Inc. | benef2 | +46.1 | +11.8 | -6.9 | -20.7 | -3.1 | +17.4 |
| Edwards Lifesciences Corporation | benef2 | +42 | -42.4 | +2.2 | -2.9 | +15.2 | +5.5 |
| Microsoft | benef2 | +52.5 | -28 | +58.2 | +12.9 | +15.6 | +4 |
YTD as of 2026-09-04 · source: Yahoo Finance
ONEOK, Inc. operates across Integrated energy midstream network. After -22.9% in 2025, it rebounded +34.8% in 2026. Its demand and supply links are known, but listed-counterparty return data is limited. Its major outlays include commodity purchases, third-party transportation, fractionation and storage, and the construction and upkeep of pipelines and processing facilities.
Analysis generated from returns as of 2026-09-04