DT Midstream (NYSE: DTM) Successfully Completes Acquisition of Midwest Pipeline Assets

DT Midstream, Inc. (NYSE: DTM) announced the successful closure of the acquisition of a portfolio of three FERC-regulated natural gas transmission pipelines from ONEOK, Inc. The transaction was completed on December 31, 2024, for a total cash consideration of $1.2 billion. The acquired assets include Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission, collectively owning certain pipelines in the Midwestern United States.

The acquisition, executed by DT Midstream and its wholly-owned subsidiary, DTM Interstate Transportation, LLC, saw DTM Transportation acquiring 100% of the equity interests of the aforementioned pipelines from the ONEOK Parties. This strategic move aligns with DT Midstream’s focused strategy on natural gas operations.

David Slater, President and CEO of DT Midstream, expressed contentment with the acquisition, emphasizing that it aligns with the company’s natural gas strategy and boosts revenue from the pipeline segment. The assets acquired come with take-or-pay contracts with utility customers boasting strong credit quality, providing a stable revenue stream.

The acquired pipelines have a combined capacity exceeding 3.7 Bcf/d, spanning approximately 1,300 miles across seven states in the Midwest region, adding substantial value to DT Midstream’s existing portfolio.

DT Midstream issued a press release on December 31, 2024, celebrating the successful closure of the transaction. The company highlights that the acquisition aligns with its goal of transitioning to net zero greenhouse gas emissions by 2050, with an interim target of achieving a 30% reduction in carbon emissions by 2030.

Investors and stakeholders are advised to review the detailed information provided in the official SEC filing to gain a comprehensive understanding of the transaction and its implications.

This news piece is intended to provide an overview of the key highlights from the recent acquisition by DT Midstream, emphasizing the company’s strategic direction and commitment to sustainable energy practices in the market.

It is essential to draw attention to the forward-looking statements included in the official disclosure, indicating the assumptions, risks, and uncertainties that may impact the company’s future performance and operations. This coverage aims to inform readers about the latest developments in the energy sector and DT Midstream’s growth trajectory.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read DT Midstream’s 8K filing here.

About DT Midstream

DT Midstream, Inc, together with its subsidiaries, provides integrated natural gas services in the United States. The company operates through two segments, Pipeline and Gathering. The Pipeline segment owns and operates interstate and intrastate natural gas pipelines, storage systems, and natural gas gathering lateral pipelines.