欧尼克 2024年度报告

MISSION We deliver energy products and servicesvital to an advancing world. VISION To create exceptional value for ourstakeholders by providing solutions for atransforming energy future. CORE VALUES SAFETY AND ENVIRONMENTAL EXCELLENCE We hold ourselves and others accountableto a standard of excellence throughcontinuous improvement and teamwork. We commit to a zero-incident culture for the well-beingof our employees, contractors and communities and tooperate in an environmentally responsible manner. SERVICE ETHICS We act with honesty, integrity and adherence tothe highest standards of personal andprofessional conduct. We invest our time, effort andresources to serve each other, ourcustomers and communities. INCLUSION AND DIVERSITY INNOVATION We respect the uniqueness and worth of eachindividual, and we believe that an inclusive culture anddiverse workforce are essential for a sense of belonging,engagement and performance. We seek to develop creative solutions byleveraging collaboration through ingenuityand technology. At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that providesgathering, processing, fractionation, transportation and storage services. Through our approximately 60,000-mile pipeline network, we transport the naturalgas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security andprovide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest diversified energy infrastructure companiesin North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world. ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma. For information about ONEOK, visit the website: www.oneok.com. For the latest news about ONEOK, find us on LinkedIn, Facebook, X and Instagram. LETTER TO INVESTORS Growing. Integrated. Reliable. These three words describe acompany on a transformation journey, anchored by its richhistory and inspired by a new strategic path forward. Bybuilding on past successes and embracing intentionalchange, we have laid the foundation for innovation andsustainable growth. increasing natural gas liquids takeaway out of the Rocky Mountainregion. All of these projects reflect our commitment to deliveringmarket-driven solutions and providing value for our stakeholders. We also announced additional future growth opportunitiesincluding the expansion of our refined products system to thegreater Denver area. This project, which is expected to becompleted in mid-2026, will help address the growing demand fortransportation fuels, including aviation and sustainable aviationfuel to the Denver International Airport. Additionally, we receivedour first shipment of sustainable aviation fuel at our Galena ParkMarine Terminal in Houston, facilitating growth with sustainablefuels in this market. Our acquisition of Magellan Midstream Partners (Magellan)in 2023 marked one significant transformation, unlockingsynergies and significantly diversifying our geographicaloperations and product mix. In 2024, we further enhanced ourportfolio with targeted acquisitions and divestitures, expandedmarket-connectivity and an extended presence in the PermianBasin and Gulf Coast, strengthening our position as anintegrated midstream industry leader. In August, ONEOK announced the rebuilding of our fractionator inMedford, Oklahoma, a project aligned with anticipated growth inNGL production from the Rocky Mountain region, Mid-Continentand Permian Basin. This two-phase project will enhance capacityand efficiency, with full completion targeted for early 2027. In October, we became the managing member of EnLinkMidstream (EnLink) and 43% owner of its outstanding units,and in early 2025, we acquired the remaining publicly heldEnLink common units. Also in October, we completed theacquisition of Medallion Midstream (Medallion), whichextended our value chain into crude oil gathering. TheMedallion and EnLink acquisitions enhance our core business,establish a fully integrated Permian Basin platform at scale,expand and extend our footprint in the Mid-Continent, NorthTexas and Louisiana, and add a skilled workforce committedto safety, excellence and service. In February 2025, we announced a new liquified petroleum gas(LPG) export facility joint venture with MPLX, establishing anintegrated NGL wellhead to water strategy. As we look to the future and continue to build a fully integratedand geographically diversified company, we remain intentionaland disciplined in everything that we do. That focus anddedication has been proven in our financial and operating results. ONEOK continued to see substantial opportunities for growthacross our operations, completing a series of organic growthprojects including the MB-6 natural gas liquids (NGL)fractionator in Mont