Why Invest

INTEGRATED ENERGY INFRASTRUCTURE AT SCALE

• ~60,000-mile pipeline network connecting key North American supply with domestic and international demand
• Integrated assets across natural gas gathering and processing, natural gas liquids, natural gas pipelines and refined products and crude oil
• Regionally diversified assets across key U.S. commodity-producing basins (Permian, Bakken and Mid-Continent)

COMPETITIVE ADVANTAGES 

• ~90% fee-based earnings support stable cash flow across market cycles
• Multi-molecule platform and regional footprint support long-term growth
• Operational scale, producer connectivity and integrated assets 

PROVEN TRACK RECORD OF VALUE CREATION

• 12 consecutive years of adjusted EBITDA growth
• Strategic acquisitions have expanded ONEOK’s asset footprint and growth opportunities
• Positioned to benefit from growing demand for reliable U.S. energy infrastructure

BALANCED CAPITAL ALLOCATION STRATEGY

• >30 years of dividend stability and a 3%-4% annual dividend growth target
• Investment-grade credit ratings and a strong balance sheet support growth and shareholder returns
• $2 billion share repurchase authorization provides additional flexibility to return capital to shareholders