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EnLink Midstream

Full company profile

uuid0004qwk

Namestring
EnLink Midstream
Legal namestring
EnLink Midstream LLC
Websiteurl
enlink.com
Company typeenum
Private
Founded yearint
2014
Descriptiontext

EnLink Midstream is an integrated midstream energy infrastructure company headquartered in Dallas, Texas, providing natural gas gathering, processing, transmission, and natural gas liquids (NGL) fractionation services to oil and gas producers across major U.S. production basins, with a significant concentration in the Permian Basin. The company operates an extensive network of pipelines and gas processing facilities that move hydrocarbons from the wellhead to end markets, generating revenue primarily through long-term, volume- and capacity-based midstream contracts with upstream operators. Prior to January 31, 2025, EnLink operated as a publicly traded master limited partnership and accessed public debt markets repeatedly (notably $300M senior notes in April 2023 and $500M senior notes in August 2024) to fund capital programs and acquisitions.

On January 31, 2025, ONEOK completed its acquisition of EnLink Midstream from Global Infrastructure Partners for approximately $3.3 billion in cash, and subsequently signaled intent to acquire the remaining ~57% of EnLink's common units in a tax-free exchange for ONEOK stock, effectively targeting full consolidation. The acquisition is part of ONEOK's broader midstream consolidation strategy, which also included the $2.6 billion Medallion Midstream transaction announced August 28, 2024, alongside the EnLink deal totaling roughly $5.9 billion. Post-close, EnLink operates as a wholly-owned subsidiary of ONEOK (NYSE: OKE), with its Permian assets now connected to ONEOK's existing gas processing, pipeline, and fractionation infrastructure. The company website (enlink.oneok.com) and investor relations functions have been redirected to ONEOK's corporate site, and three EnLink board directors were replaced as part of the post-acquisition governance transition.

Short descriptiontext

EnLink Midstream is a Dallas-based integrated midstream energy infrastructure company providing natural gas gathering, processing, transmission, and NGL fractionation services to oil and gas producers in U.S. basins, notably the Permian. It became a wholly-owned subsidiary of ONEOK following the January 31, 2025 closing of a ~$3.3 billion acquisition.

Operating statusenum
Acquired
Ownership categoryenum
Headcount rangeband
1,001–5,000
akta.pro rankint
HeadquartersDallas, United States
HQ citystring
Dallas
HQ countrystring
United States
HQ regionstring
North America
Markets served

Serves global market

Keyword5 values
midstream energy services, natural gas processing, NGL fractionation, pipeline infrastructure, gas gathering and transmission
Industry2 codes
PRIMARYEUAEAMAF
Gas Pipeline & Midstream Asset Management
Energy, Utilities & Environment/Energy Infrastructure & Services (EPC, O&M, Field Services)/Energy Infrastructure Asset Management
SECONDARYTLAGAEAI
NGL/LPG Trunkline / Transmission Pipelines (Interstate/Long-Haul)
Transportation & Logistics/Pipeline Transportation/Natural Gas Liquids (NGL) / LPG Pipeline Transportation
NAICS code2 codes
  • Pipeline Transportation of Natural Gas4862
  • Other Pipeline Transportation4869
SIC code1 code
  • Natural Gas Transmission4922
Product category
Midstream Energy Infrastructure
Social media profiles2 records
Cost components4 values
Operations, Infrastructure, Personnel, Others
GTM typeB2B
B2B
Offering typeServices
Services
Core offering1 text field

EnLink Midstream provides integrated midstream energy services including natural gas gathering, processing, transmission, and fractionation of natural gas liquids (NGLs). The company operates pipeline networks and gas processing facilities primarily in the Permian Basin and other key U.S. production regions, moving hydrocarbons from the wellhead to end markets.

Differentiator
Functional benefit
Problem solved
Product overview1 text field

EnLink Midstream operates as an integrated midstream energy infrastructure company offering a comprehensive suite of services including natural gas gathering, processing, transmission, and NGL fractionation. The company operates extensive pipeline networks and gas processing facilities across major U.S. production basins, with significant presence in the Permian Basin. Following its acquisition by ONEOK on January 31, 2025, EnLink's infrastructure assets complement ONEOK's existing operations, creating a fully integrated midstream platform. The company's core offerings include gas processing plants, pipeline systems, and fractionation infrastructure that support the transportation and processing of natural gas and NGLs from wellhead to end markets.

Product and service1 record
1Midstream Energy Infrastructure Services
Scale indicator2 records

Each record includes

Type, Value, Description, Source

Partnership1 partner
1ONEOK
Strategic tierCoreTypeStrategic or Co-development PartnerAnnounced on2024-08-28
Description

ONEOK announced the acquisition of EnLink Midstream from Global Infrastructure Partners for approximately $3.3 billion in cash on August 28, 2024. The transaction closed on January 31, 2025. Following the acquisition, ONEOK planned to pursue acquiring the remaining 57% of EnLink's common units in a tax-free exchange for ONEOK stock.

Recent move6 records

Each record includes

Date, Type, Title, Description, Source

Expansion highlight4 records

Each record includes

Type, Description

Peers10 records
1ONEOK
TypeBroad incumbent
Description

Parent company since January 31, 2025, completing the $3.3B acquisition. Operates a multi-commodity midstream platform with extensive NGL fractionation, gas processing, and pipeline assets across the U.S., making it the most directly comparable operating peer.

2Williams Companies
TypeDirect peer
Description

Large-cap U.S. natural gas midstream operator with gathering, processing, and long-haul transmission assets. Competes directly with EnLink for Permian-sourced gas and NGL takeaway and shares a similar integrated value-chain model.

3Enterprise Products Partners
TypeDirect peer
Description

One of the largest publicly traded midstream MLPs, with extensive NGL fractionation, pipelines, and gas processing assets. Directly comparable integrated midstream model covering natural gas, NGLs, and related services.

4Targa Resources
TypeDirect peer
Description

Permian-focused natural gas processor and NGL producer with gathering, processing, fractionation, and export logistics assets. Highly comparable to EnLink's Permian midstream footprint and integrated NGL exposure.

5Energy Transfer
TypeDirect peer
Description

Large diversified midstream MLP with significant natural gas, NGL, and crude pipeline operations across key U.S. basins including the Permian. Competes directly for producer midstream commitments and downstream NGL markets.

6Western Midstream Partners
TypeDirect peer
Description

Permian-focused midstream operator owned jointly by Occidental and Crescent Energy. Provides natural gas gathering, processing, and crude transportation services overlapping EnLink's Permian asset base.

7Kinder Morgan
TypeBroad incumbent
Description

Largest U.S. natural gas pipeline operator with extensive gathering, processing, transportation, and storage assets. Competes broadly with EnLink in natural gas transmission and is a meaningful comparable on the gas side of the business.

8DT Midstream
TypeDirect peer
Description

Mid-cap natural gas midstream operator focused on gathering, processing, transportation, and storage. Competes for Permian-sourced gas takeaway and provides a comparable integrated gas midstream model.

9Crestwood Equity Partners
TypeDirect peer
Description

Midstream partnership operating natural gas and NGL gathering/processing assets in the Permian and other U.S. basins. Closely comparable operating footprint and customer base to EnLink's Permian operations.

10Magellan Midstream Partners
TypeBroad incumbent
Description

Refined products and crude oil pipeline operator acquired by ONEOK in 2023 alongside the EnLink deal. Sister company to EnLink within ONEOK and a relevant midstream comparable for fee-based pipeline economics.

Market position
Strengths4 records

Each record includes

Headline, Details, Source

Weaknesses5 records

Each record includes

Headline, Details, Source

Competitive moat4 records

Each record includes

Type, Details

Key risks6 records

Each record includes

Headline, Details, Source

Key highlights6 records

Each record includes

Headline, Details, Source

Customer concentration

Classification, Details

Segment1 record

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
No
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Core technology
Revenue estimate
Valuation estimate
Number of profiles
No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds4 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

EnLink Midstream

Midstream Energy Infrastructureenlink.com

EnLink Midstream is a Dallas-based integrated midstream energy infrastructure company providing natural gas gathering, processing, transmission, and NGL fractionation services to oil and gas producers in U.S. basins, notably the Permian. It became a wholly-owned subsidiary of ONEOK following the January 31, 2025 closing of a ~$3.3 billion acquisition.

What EnLink Midstream does

EnLink Midstream is an integrated midstream energy infrastructure company headquartered in Dallas, Texas, providing natural gas gathering, processing, transmission, and natural gas liquids (NGL) fractionation services to oil and gas producers across major U.S. production basins, with a significant concentration in the Permian Basin. The company operates an extensive network of pipelines and gas processing facilities that move hydrocarbons from the wellhead to end markets, generating revenue primarily through long-term, volume- and capacity-based midstream contracts with upstream operators. Prior to January 31, 2025, EnLink operated as a publicly traded master limited partnership and accessed public debt markets repeatedly (notably $300M senior notes in April 2023 and $500M senior notes in August 2024) to fund capital programs and acquisitions.

On January 31, 2025, ONEOK completed its acquisition of EnLink Midstream from Global Infrastructure Partners for approximately $3.3 billion in cash, and subsequently signaled intent to acquire the remaining ~57% of EnLink's common units in a tax-free exchange for ONEOK stock, effectively targeting full consolidation. The acquisition is part of ONEOK's broader midstream consolidation strategy, which also included the $2.6 billion Medallion Midstream transaction announced August 28, 2024, alongside the EnLink deal totaling roughly $5.9 billion. Post-close, EnLink operates as a wholly-owned subsidiary of ONEOK (NYSE: OKE), with its Permian assets now connected to ONEOK's existing gas processing, pipeline, and fractionation infrastructure. The company website (enlink.oneok.com) and investor relations functions have been redirected to ONEOK's corporate site, and three EnLink board directors were replaced as part of the post-acquisition governance transition.

EnLink Midstream firmographics

Firmographics
Name
EnLink Midstream
Legal name
EnLink Midstream LLC
Website
https://enlink.com
Company type
Private
Founded year
2014
Operating status
Acquired
Headcount range
1,001–5,000 employees
Short description
EnLink Midstream is a Dallas-based integrated midstream energy infrastructure company providing natural gas gathering, processing, transmission, and NGL fractionation services to oil and gas producers in U.S. basins, notably the Permian. It became a wholly-owned subsidiary of ONEOK following the January 31, 2025 closing of a ~$3.3 billion acquisition.
Ownership category
akta.pro rank

EnLink Midstream industry classification

Industry
Product category
Midstream Energy Infrastructure
NAICS
Pipeline Transportation of Natural Gas (4862), Other Pipeline Transportation (4869)
SIC
Natural Gas Transmission (4922)
akta.pro industry
PRIMARYEUAEAMAF
Gas Pipeline & Midstream Asset Management
Energy, Utilities & Environment/Energy Infrastructure & Services (EPC, O&M, Field Services)/Energy Infrastructure Asset Management
SECONDARYTLAGAEAI
NGL/LPG Trunkline / Transmission Pipelines (Interstate/Long-Haul)
Transportation & Logistics/Pipeline Transportation/Natural Gas Liquids (NGL) / LPG Pipeline Transportation

Keywords

  • Midstream energy services
  • Natural gas processing
  • NGL fractionation
  • Pipeline infrastructure
  • Gas gathering and transmission

Where EnLink Midstream is headquartered

Location

Headquarters

HQ city
Dallas
HQ country
United States
HQ region
North America

Markets served

EnLink Midstream business model

Business model
GTM type
B2B
Offering type
Services
Cost components
Operations, Infrastructure, Personnel, Others

EnLink Midstream product offering

Product offering

Core offering

EnLink Midstream provides integrated midstream energy services including natural gas gathering, processing, transmission, and fractionation of natural gas liquids (NGLs). The company operates pipeline networks and gas processing facilities primarily in the Permian Basin and other key U.S. production regions, moving hydrocarbons from the wellhead to end markets.

Product overview

EnLink Midstream operates as an integrated midstream energy infrastructure company offering a comprehensive suite of services including natural gas gathering, processing, transmission, and NGL fractionation. The company operates extensive pipeline networks and gas processing facilities across major U.S. production basins, with significant presence in the Permian Basin. Following its acquisition by ONEOK on January 31, 2025, EnLink's infrastructure assets complement ONEOK's existing operations, creating a fully integrated midstream platform. The company's core offerings include gas processing plants, pipeline systems, and fractionation infrastructure that support the transportation and processing of natural gas and NGLs from wellhead to end markets.

Differentiator

Problem solved

Functional benefit

Products and services

  • Midstream Energy Infrastructure Services

Companies that use EnLink Midstream

Customer profile

Segments1 record

Ideal customer profiles1 record

EnLink Midstream technology and API

Technology

Technology focussed No

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

EnLink Midstream partnerships and signals

Strategic signal

Partnerships

One partnership is on record.

  • ONEOKcoreStrategic or Co-development Partner · 28 August 2024ONEOK announced the acquisition of EnLink Midstream from Global Infrastructure Partners for approximately $3.3 billion in cash on August 28, 2024. The transaction closed on January 31, 2025. Following the acquisition, ONEOK planned to pursue acquiring the remaining 57% of EnLink's common units in a tax-free exchange for ONEOK stock.

Scale indicators2 records

Recent moves6 records

Expansion highlights4 records

EnLink Midstream competitors and assessment

Company assessment

Broad incumbents

  • ONEOK: Parent company since January 31, 2025, completing the $3.3B acquisition. Operates a multi-commodity midstream platform with extensive NGL fractionation, gas processing, and pipeline assets across the U.S., making it the most directly comparable operating peer.
  • Kinder Morgan: Largest U.S. natural gas pipeline operator with extensive gathering, processing, transportation, and storage assets. Competes broadly with EnLink in natural gas transmission and is a meaningful comparable on the gas side of the business.
  • Magellan Midstream Partners: Refined products and crude oil pipeline operator acquired by ONEOK in 2023 alongside the EnLink deal. Sister company to EnLink within ONEOK and a relevant midstream comparable for fee-based pipeline economics.

Direct peers

  • Williams Companies: Large-cap U.S. natural gas midstream operator with gathering, processing, and long-haul transmission assets. Competes directly with EnLink for Permian-sourced gas and NGL takeaway and shares a similar integrated value-chain model.
  • Enterprise Products Partners: One of the largest publicly traded midstream MLPs, with extensive NGL fractionation, pipelines, and gas processing assets. Directly comparable integrated midstream model covering natural gas, NGLs, and related services.
  • Targa Resources: Permian-focused natural gas processor and NGL producer with gathering, processing, fractionation, and export logistics assets. Highly comparable to EnLink's Permian midstream footprint and integrated NGL exposure.
  • Energy Transfer: Large diversified midstream MLP with significant natural gas, NGL, and crude pipeline operations across key U.S. basins including the Permian. Competes directly for producer midstream commitments and downstream NGL markets.
  • Western Midstream Partners: Permian-focused midstream operator owned jointly by Occidental and Crescent Energy. Provides natural gas gathering, processing, and crude transportation services overlapping EnLink's Permian asset base.
  • DT Midstream: Mid-cap natural gas midstream operator focused on gathering, processing, transportation, and storage. Competes for Permian-sourced gas takeaway and provides a comparable integrated gas midstream model.
  • Crestwood Equity Partners: Midstream partnership operating natural gas and NGL gathering/processing assets in the Permian and other U.S. basins. Closely comparable operating footprint and customer base to EnLink's Permian operations.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

EnLink Midstream social profiles

Digital presence

EnLink Midstream financial estimates

Financial estimate

Revenue estimate

Valuation estimate

EnLink Midstream leadership team

Management profile

Number of profiles

EnLink Midstream funding detail

Funding detail

Funding overview

Funding rounds4 records

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

EnLink Midstream M&A and investment

M&A and investment

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about EnLink Midstream

What does EnLink Midstream do?

EnLink Midstream provides integrated midstream energy services including natural gas gathering, processing, transmission, and fractionation of natural gas liquids (NGLs). The company operates pipeline networks and gas processing facilities primarily in the Permian Basin and other key U.S. production regions, moving hydrocarbons from the wellhead to end markets.

Is EnLink Midstream a public or private company?

EnLink Midstream is a private company. It is classified as corporate owned and is currently acquired.

When was EnLink Midstream founded?

EnLink Midstream was founded in 2014. It employs 1,001 to 5,000 people.

Where is EnLink Midstream based?

EnLink Midstream is headquartered in Dallas, United States, in the North America region.

Who are EnLink Midstream's main competitors?

Broad incumbents on record are ONEOK, Kinder Morgan and Magellan Midstream Partners. Direct peers are Williams Companies, Enterprise Products Partners, Targa Resources, Energy Transfer, Western Midstream Partners, DT Midstream and Crestwood Equity Partners.

Does EnLink Midstream have an API?

No public API is recorded for EnLink Midstream.

What industry is EnLink Midstream in?

EnLink Midstream's product category is Midstream Energy Infrastructure. Its primary akta.pro industry code is EUAEAMAF, Gas Pipeline & Midstream Asset Management, with a secondary code of TLAGAEAI, NGL/LPG Trunkline / Transmission Pipelines (Interstate/Long-Haul). Its NAICS code is 4862 and its SIC code is 4922.

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Live signals
Yahoo3 Midstream Stocks Paying You While You Wait for July to EndThis article profiles three U.S.-listed midstream energy dividend stocks—ONEOK, Kinder Morgan, and MPLX—as income investment opportunities driven by natural gas demand from LNG exports, data-center power buildouts, and Permian Basin production growth. ONEOK raised its quarterly dividend 4% in January and achieved $475 million in cumulative synergies from its EnLink and Medallion acquisitions, while Kinder Morgan reported Q1 2026 free cash flow up 73% year-over-year with a project backlog of $10.1 billion, positioning it to serve approximately 70% of projected data center power demand. Both ONEOK and Kinder Morgan are structured as C-corps to avoid K-1 partnership tax filings, making them attractive for investors seeking midstream exposure without complex tax reporting.The Motley FoolThis Resilient Dividend Stock Is Outperforming the Market in 2026, and It Still Looks Like a BuyOneok, an energy midstream company, has outperformed the S&P 500 in 2026 with a 15% stock rally versus 3% for the index, while maintaining a 5% dividend yield and a track record of 25+ years of stable dividend payments. The company has executed major acquisitions totaling over $28 billion since 2023, including Magellan Midstream Partners, Medallion Midstream, and EnLink, positioning itself for approximately 9% compound annual earnings-per-share growth through 2028. The article argues Oneok remains undervalued at 15 times forward earnings compared to the S&P 500's 21.5 times, supporting a buy recommendation with potential double-digit total annual returns.The Motley FoolThis Resilient Dividend Stock Is Outperforming the Market in 2026, and It Still Looks Like a BuyOneok, an energy midstream company, offers a dividend yield above 5% and has outperformed the S&P 500 this year. The stock trades at about 15 times forward earnings, below the S&P 500's 21.5 times, with expected 9% annual earnings growth. The company plans to increase its dividend at a 3-4% annual rate.The Motley FoolAfter A Recent Growth Spurt, This 4.9%-Yielding Dividend Stock is Slowing to A Crawl in 2026. Is a Reacceleration Coming?Oneok reported 18% growth in adjusted EBITDA to over $8 billion in 2026, marking its 12th consecutive year of EBITDA growth, driven by higher volumes and $250 million in synergies from recent acquisitions of EnLink, Medallion, and Magellan Midstream. The pipeline company expects EBITDA growth to slow to a crawl in 2026 with guidance of $7.9-$8.3 billion, as higher corporate costs and lower commodity prices offset volume gains and $150 million in additional cost savings. Looking ahead, Oneok projects a reacceleration by 2028 when major growth projects including the Texas City Logistics export terminal and Eiger Express Pipeline enter commercial service, supporting its plan to continue raising its 4.9%-yielding dividend by 3-4% annually.Investing.comLincoln Educational earnings beat by $0.10, revenue topped estimates By Investing.comONEOK is reporting fourth-quarter results with analysts expecting EPS of $1.54 on revenue of $9.33 billion, representing a 42.66% year-over-year revenue jump driven by major acquisitions. JPMorgan downgraded the stock to neutral from overweight citing concerns about results falling short of EBITDA guidance and execution challenges, while Jefferies initiated coverage with a hold rating, noting weak crude prices and insufficient near-term catalysts. Investors are scrutinizing integration progress from ONEOK's acquisitions of EnLink Midstream and Medallion Midstream (October 2024) alongside the 2023 Magellan deal, as the company works toward its 3.5x leverage target and 2026 guidance amid persistent headwinds in its legacy Bakken operations.The Motley FoolThis 4.9%-Yield Oil Pipeline Stock Is up 18% in 2026 -- and Still Looks CheapOneOK, a Tulsa-based midstream operator with 60,000 miles of pipelines, has seen its stock rise approximately 18% in 2026 and is scheduled to report fourth-quarter earnings with analysts forecasting EPS of $1.50, down 4% year-over-year, and revenues of $8.9 billion, up 3% year-over-year. The company has pursued an aggressive acquisition strategy, spending $18.8 billion on Magellan Midstream in 2023, $2.6 billion on Medallion Midstream in 2024, and $4.3 billion on EnLink in January 2025, while raising its dividend by 4% for the fourth consecutive year to a yield of approximately 4.9%. The article argues that rising oil prices driven by U.S.-Iran tensions in the Persian Gulf benefit OneOK by increasing drilling activity and pipeline utilization, and that the stock trades at a discount at approximately 16 times earnings relative to midstream peers.PR NewswireSummit Midstream Appoints Chris Tennant as Chief Commercial OfficerSummit Midstream Corporation announced the appointment of Chris Tennant as Senior Vice President and Chief Commercial Officer, effective immediately. Tennant brings more than three decades of midstream energy experience, having previously served in similar CCO roles at Matador Resources and during a 14-year tenure at EnLink Midstream. The appointment is framed as reinforcing Summit's commercial strategy, customer relationships, and long-term growth initiatives across its U.S. basin footprint.Stock TitanONEOK Q2 Earnings: Net Income Rises to $853M, EBITDA Hits $1.98BONEOK reported Q2 2025 net income of $853 million and adjusted EBITDA of $1.98 billion, up from prior-year figures. The company affirmed its full-year 2025 financial guidance ranges and cited higher Rocky Mountain NGL feed volumes and EnLink and Medallion acquisitions as key drivers.PR NewswireONEOK Announces Higher Second Quarter 2025 Earnings and Affirms 2025 Financial Guidance RangesONEOK, Inc. reported higher second-quarter 2025 earnings, driven by the positive impact of its EnLink and Medallion acquisitions, which resulted in net income attributable to ONEOK of $841 million. The company also announced record Rocky Mountain Region NGL raw feed throughput volumes and affirmed its full-year 2025 financial guidance ranges.WikipediaWikipediaThe provided text is a general encyclopedic overview of Oneok, Inc., detailing its history, corporate structure, and operational segments rather than reporting a specific current news event. It outlines the company's strategic acquisitions, such as Magellan Midstream Partners and EnLink Midstream, and recent infrastructure developments in the Permian Basin through 2025.