ONEOK

On October 6, 2025, a fire occurred at ONEOK’s Mont Belvieu fractionation complex in Texas, limited to the MB-4 unit’s heating system. No injuries were reported, and operations were temporarily shut down. ONEOK expects to resume operations in all but the MB-4 unit after inspections, with repairs needed for the affected unit. While assessing the damage, ONEOK anticipates no material adverse financial impact, attributing this to its diversified assets. An investigation is underway, and the incident highlights ongoing scrutiny of energy infrastructure safety.

ONEOK (OKE) announced the pricing of a $3.0 billion senior notes offering. The offering includes tranches of 7-year, 10-year, and 30-year notes. Net proceeds, estimated at $2.96 billion, will be used to retire commercial paper and repay senior notes due in 2025. Remaining funds will go towards general corporate purposes, potentially including further debt reduction. The offering is expected to close around August 12, 2025. Several major financial institutions are involved as joint book-running managers and co-managers.