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$14 Billion Deal to Create Mega-Pipeline Company

Collin Eaton of The Wall Street Journal reports on a $14 billion deal that would see pipeline operator Oneok buying Magellan Midstream Partners.

The C3 Take
  • 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.”

Read the full article here.

The views and opinions expressed are those of the author’s and do not necessarily reflect the official policy or position of C3.

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