Collin Eaton of The Wall Street Journal reports on a $14 billion deal that would see pipeline operator Oneok buying Magellan Midstream Partners.
- Magellan owns over 10,000 miles of pipelines that carry refined products such as gasoline around the country.
- Oneok says that this purchase will allow the company to invest in emerging technologies such as hydrogen.
- Private sector leadership is key to accelerating a market-led shift to cleaner energy sources.
“The proposed tie-up would be by far the biggest U.S. energy deal announced so far this year. Some analysts have said the U.S. oil-and-gas sector is ripe for major corporate transactions this year, after energy prices surged last year and left companies with a large windfall of cash. In Oneok’s case, much of the cash portion would be financed through a debt offering, it said.”
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