ONEOK Inc. has announced a definitive agreement to sell three of its wholly owned interstate natural gas pipeline systems to DT Midstream for $1.2 billion.

The deal includes the Guardian Pipeline, Midwestern Gas Transmission, and Viking Gas Transmission. Combined, these pipelines span approximately 1,300 miles and have a total capacity of over 3.7 billion cubic feet per day.

ONEOK President and CEO Pierce H. Norton II stated that the transaction aligns with the company's strategy to optimize its asset portfolio and prioritize capital allocation within its integrated operating footprint.

DT Midstream President and CEO David Slater said the acquisition aligns with the company's pure-play natural gas strategy and will enhance its scale and revenue contribution from the pipeline segment.

The transaction is expected to close in the fourth quarter of 2024, subject to customary adjustments and regulatory approvals.