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ONEOK INC /NEW/

For the period ended Jun 30, 2026. Filed Aug 4, 2026.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 4, 2026

OKE$85.98+0.9%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Table of Contents

ONEOK, Inc.

TABLE OF CONTENTS

Part I.Financial InformationPage No.
Item 1.Financial Statements (Unaudited)6
Consolidated Statements of Income - Three and Six Months Ended June 30, 2026 and 20256
Consolidated Statements of Comprehensive Income - Three and Six Months Ended June 30, 2026 and 20256
Consolidated Balance Sheets - June 30, 2026, and December 31, 20257
Consolidated Statements of Cash Flows - Six Months Ended June 30, 2026 and 20258
Consolidated Statements of Changes in Equity and Redeemable Noncontrolling Interests - Three and Six Months Ended June 30, 2026 and 20259
Notes to Consolidated Financial Statements11
A. Summary of Significant Accounting Policies11
B. Fair Value Measurements11
C. Risk-Management and Hedging Activities Using Derivatives12
D. Debt14
E. Equity15
F. Variable Interest Entities15
G. Earnings Per Share16
H. Unconsolidated Affiliates17
I. Commitments and Contingencies17
J. Revenues18
K. Segments18
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations23
Item 3.Quantitative and Qualitative Disclosures About Market Risk38
Item 4.Controls and Procedures38
Part II.Other Information38
Item 1.Legal Proceedings38
Item 1A.Risk Factors38
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds39
Item 3.Defaults Upon Senior Securities39
Item 4.Mine Safety Disclosures39
Item 5.Other Information39
Item 6.Exhibits39
Signatures41

As used in this Quarterly Report, references to “ONEOK,” “we,” “our” or “us” refer to ONEOK, Inc., an Oklahoma corporation, and its predecessors and subsidiaries, including Magellan, EnLink and Medallion, unless the context indicates otherwise.

The statements in this Quarterly Report that are not historical information, including statements concerning plans and objectives of management for future operations, economic performance or related assumptions, are forward-looking statements. Forward-looking statements may include words such as “anticipates,” “believes,” “continues,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “guidance,” “intends,” “may,” “might,” “outlook,” “plans,” “potential,” “projects,” “scheduled,” “should,” “target,” “will,” “would” and other words and terms of similar meaning. Although we believe that our expectations regarding future events are based on reasonable assumptions, we can give no assurance that such expectations or assumptions will be achieved. Important factors that could cause actual results to differ materially from those in the forward-looking statements are described under Part I, Item 2, “Management’s Discussion and Analysis of Financial Condition and Results of Operations - Forward-Looking Statements” and Part II, Item 1A, “Risk Factors,” in this Quarterly Report, and under Part I, Item 1A, “Risk Factors,” in our Annual Report.

GLOSSARY

The abbreviations, acronyms and industry terminology used in this Quarterly Report are defined as follows:

$1.2 Billion Term Loan AgreementThe senior unsecured delayed draw 364-day $1.2 billion term loan agreement dated April 24, 2026
$3.5 Billion Credit AgreementONEOK’s $3.5 billion amended and restated revolving credit agreement
AFUDCAllowance for funds used during construction
AscensionAscension Pipeline Company, LLC, a 50% owned joint venture
BblBarrels, 1 barrel is equivalent to 42 United States gallons
BcfBillion cubic feet
Bcf/dBillion cubic feet per day
BridgeTexBridgeTex Pipeline Company, LLC, a 60% owned joint venture
Delaware Basin JVA 50.1% owned joint venture, and after the Delaware Basin JV Acquisition, a wholly owned subsidiary of ONEOK
Delaware Basin JV AcquisitionThe transaction completed on May 28, 2025, pursuant to which ONEOK acquired the remaining 49.9% noncontrolling interest in Delaware Basin JV
EBITDAEarnings before interest expense, income taxes, depreciation and amortization
EigerEiger Express Holdings, LLC, a 25.5% owned joint venture, including the 10.5% held through Matterhorn
EnLinkEnLink Midstream, LLC, and after the EnLink Acquisition, Elk Merger Sub II, L.L.C., a wholly owned subsidiary of ONEOK
EnLink AcquisitionThe transactions pursuant to which ONEOK acquired a controlling interest in, and subsequently all outstanding publicly held common units of, EnLink, completed on October 15, 2024, and January 31, 2025, respectively, resulting in EnLink becoming a wholly owned subsidiary of ONEOK
EnLink PartnersEnLink Midstream Partners, LP, a wholly owned subsidiary of ONEOK
EPSEarnings per share of common stock
ESGEnvironmental, social and governance
Exchange ActSecurities Exchange Act of 1934, as amended
FERCFederal Energy Regulatory Commission
FitchFitch Ratings, Inc.
GAAPAccounting principles generally accepted in the United States of America
Intermediate PartnershipONEOK Partners Intermediate Limited Partnership, a wholly owned subsidiary of ONEOK
MagellanMagellan Midstream Partners, L.P., a wholly owned subsidiary of ONEOK
MatterhornMXP Parent, LLC, a 15% owned joint venture
MBbl/dThousand barrels per day
MBTC PipelineMBTC Pipeline LLC, an 80% owned joint venture
MDth/dThousand dekatherms per day
MedallionMedallion Parent Holdings, L.L.C., a wholly owned subsidiary of ONEOK
MMBblMillion barrels
MMcf/dMillion cubic feet per day
Moody’sMoody’s Investors Service, Inc.
NGL(s)Natural gas liquid(s)
Northern BorderNorthern Border Pipeline Company, a 50% owned joint venture
ONEOKONEOK, Inc.
ONEOK PartnersONEOK Partners, L.P., a wholly owned subsidiary of ONEOK
OWMONEOK Wyoming Midstream, LLC, an 85% owned joint venture
Overland PassOverland Pass Pipeline Company, LLC, a 50% owned joint venture
Powder SpringsPowder Springs Logistics, LLC, a 50% owned joint venture
Purity NGLsMarketable natural gas liquid purity products, such as ethane, ethane/propane mix, propane, iso-butane, normal butane and natural gasoline
Quarterly Report(s)Quarterly Report(s) on Form 10-Q
Refined ProductsThe output from crude oil refineries, including products such as gasoline, diesel fuel, aviation fuel, kerosene and heating oil
RoadrunnerRoadrunner Gas Transmission Holdings, LLC, a 50% owned joint venture
S&PS&P Global Ratings
SaddlehornSaddlehorn Pipeline Company, LLC, a 40% owned joint venture
SECSecurities and Exchange Commission
Term SOFRThe forward-looking term rate based on Secured Overnight Financing Rate (SOFR)
Texas City LogisticsTexas City Logistics, LLC, a 50% owned joint venture
XBRLeXtensible Business Reporting Language

INFORMATION AVAILABLE ON OUR WEBSITE

We make available, free of charge, on our website (www.oneok.com) copies of our Annual Reports, Quarterly Reports, Current Reports on Form 8-K, Proxy Statements, amendments to those reports filed or furnished to the SEC pursuant to Section 13(a) or 15(d) of the Exchange Act and reports of holdings of our securities filed by our officers and directors under Section 16 of the Exchange Act as soon as reasonably practicable after filing such material electronically or otherwise furnishing it to the SEC. Copies of our Code of Business Conduct and Ethics, Corporate Governance Guidelines, Director Independence Guidelines, Corporate Sustainability Report and the written charters of our Board Committees also are available on our website, and we will provide copies of these documents upon request.

In addition to our filings with the SEC and materials posted on our website, we also use social media platforms as additional channels of distribution to reach public investors. Information contained on our website or posted on our social media accounts, including any corresponding applications, are not incorporated by reference into this report.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.