Changes reflect new ONEOK controlling
interest
DALLAS, Oct. 15,
2024 /PRNewswire/ -- EnLink Midstream, LLC
(NYSE: ENLC) (EnLink) today announced changes to the Board of
Directors (Board) of EnLink Midstream Manager, LLC, the managing
member of ENLC (EnLink Manager), following the October 15, 2024, closing of the transaction in
which ONEOK, Inc. (NYSE: OKE) (ONEOK) acquired Global
Infrastructure Partner's (GIP) entire 43% equity interest in ENLC
and all of GIP's interest in EnLink Manager.
As a result of acquiring EnLink Manager, ONEOK appointed three
directors to the Board who collectively have the majority voting
power. Joining the Board are Pierce H.
Norton II, who will serve as the Board's Chairman and will
become the Chairman of the Governance and Compensation Committee,
Walter S. Hulse III, who will join
the Board's Sustainability Committee, and Lyndon C. Taylor, who will join the Board's
Governance and Compensation Committee.
Leldon E. Echols remains the Lead
Independent Director of the Board. The departing directors are
Matthew C. Harris, Benjamin M. Daniel, and Scott E. Telesz, each of GIP.
"I am thankful for GIP's contribution to our company and
leadership on EnLink's Board," EnLink President and Chief Executive
Officer Jesse Arenivas said.
"Additionally, I am pleased to welcome the ONEOK directors to our
Board, each of whom brings extensive midstream and energy
experience."
New Director Biographies
Pierce H. Norton II is president and chief
executive officer of ONEOK and is a member of the ONEOK Board of
Directors. Previously, Norton was president and chief executive
officer of ONE Gas, Inc. for more than seven years and served as a
member of the ONE Gas board. Norton worked for ONEOK for almost 10
years, having joined the company in 2004. Prior to the separation
of ONE Gas in January 2014, Norton
served as executive vice president, commercial, of ONEOK and ONEOK
Partners.
His other roles at ONEOK included executive vice president and
chief operating officer of ONEOK and ONEOK Partners, responsible
for the company's natural gas gathering and processing, natural gas
pipelines, natural gas liquids, natural gas distribution and energy
services business segments. Norton also held the position as
president of ONEOK Distribution Companies – Oklahoma Natural
Gas, Kansas Gas Service and Texas
Gas Service.
An Alabama native, Norton
earned a Bachelor of Science degree in mechanical engineering in
1982 from the University of Alabama in
Tuscaloosa and was a University of
Alabama College of Engineering Distinguished Fellow. He also
is a graduate of Harvard Business
School's Advanced Management Program.
Walter S. Hulse
III is executive vice president, chief financial
officer, treasurer, investor relations and corporate development,
of ONEOK.
Hulse joined ONEOK in 2015 from Spinnaker Strategic Advisory
Services, LLC, which provided consulting services to mid-cap and
large-cap publicly traded companies, including the review of merger
and/or acquisition opportunities, debt and equity markets,
corporate restructuring and potential divestitures. Hulse served as
a consultant to ONEOK for many years, including during the
separation of the company's natural gas distribution business into
the stand-alone publicly traded company, ONE Gas.
Previously, Hulse was vice chairman of the Investment Banking
Department, managing director and head of the business development
group at UBS Investment Bank. Prior to that, he was head of the
Global Utility Group at UBS Investment Bank. Before joining UBS
through its merger with PaineWebber Incorporated, Hulse held
various roles at Paine Webber and J.P. Morgan.
Hulse graduated from the Wharton School at the University of Pennsylvania with a Bachelor of
Science in economics.
Lyndon C. Taylor is
executive vice president, chief legal officer and assistant
secretary of ONEOK.
Taylor joined ONEOK in 2023. Before joining ONEOK, he was
executive vice president, chief legal and administrative officer of
Devon Energy Corporation, responsible for overseeing the legal,
corporate governance, compliance and government relations
functions. Prior to Devon, Taylor
founded and led the Houston office
of Skadden Arps, serving the legal needs of numerous energy clients
for 12 years. He has in-depth experience in many aspects of the
energy business, including capital markets and Securities and
Exchange Commission (SEC) activities, merger and acquisition
(M&A) deals, commercial transactions, regulatory compliance,
labor and employment matters, intellectual property and
litigation.
With nearly 40 years of legal expertise, primarily in the energy
space, Taylor has extensive experience guiding organizations on
legal and business strategies that balance risk and company
objectives, helping them to be successful in a changing market.
Taylor earned a Juris Doctor with honors from the University of Oklahoma College of Law and a
Bachelor of Science in industrial engineering and management from
Oklahoma State University.
About EnLink Midstream
Headquartered in Dallas, EnLink Midstream (NYSE: ENLC) provides
integrated midstream infrastructure services for natural gas, crude
oil, condensate, and NGLs, as well as CO2 transportation
for carbon capture and sequestration (CCS). Our large-scale,
cash-flow-generating asset platforms are in premier production
basins and core demand centers, including the Permian Basin,
Louisiana, Oklahoma, and North
Texas. EnLink is focused on maintaining the financial
flexibility and operational excellence that enables us to
strategically grow and create sustainable value. Visit
www.EnLink.com to learn how EnLink connects energy to life.
About ONEOK
At ONEOK (NYSE: OKE), we deliver energy
products and services vital to an advancing world. We are a leading
midstream operator that provides gathering, processing,
fractionation, transportation and storage services. Through our
more than 50,000-mile pipeline network, we transport the natural
gas, natural gas liquids (NGLs), refined products and crude oil
that help meet domestic and international energy demand, contribute
to energy security and provide safe, reliable and responsible
energy solutions needed today and into the future. As one of the
largest diversified energy infrastructure companies in North America, ONEOK is delivering energy that
makes a difference in the lives of people in the U.S. and around
the world.
As of Oct. 15, 2024, ONEOK is the
managing member of EnLink Midstream, LLC (NYSE: ENLC) (EnLink) and
owns 43% of EnLink's outstanding common units. EnLink provides
integrated midstream infrastructure services for natural gas, crude
oil and NGLs.
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.
Forward-Looking Statements
This press release contains forward-looking statements within
the meaning of the federal securities laws. Although these
statements reflect the current views, assumptions, and expectations
of ENLC's management, the matters addressed herein involve certain
assumptions, risks, and uncertainties that could cause actual
activities, performance, outcomes, and results to differ materially
from those indicated herein. Therefore, you should not rely on any
of these forward-looking statements. All statements, other than
statements of historical fact, included in this press release
constitute forward-looking statements, including but not limited to
statements identified by the words "forecast," "may," "believe,"
"will," "should," "plan," "predict," "anticipate," "intend,"
"estimate," "expect," "continue," and similar expressions.
Such forward-looking statements are subject to a variety of known
and unknown risks, uncertainties, and other factors that are
difficult to predict and many of which are beyond management's
control. An extensive list of factors that can affect ENLC's
business are discussed in ENLC's filings with the SEC, including
ENLC's Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q,
and Current Reports on Form 8-K. ENLC assumes no obligation to
update any forward-looking statements.
Investor Relations: Brian
Brungardt, Senior Director of Investor Relations,
214-721-9353, brian.brungardt@enlink.com
Media Relations: Megan
Wright, Director of Corporate Communications,
214-721-9694, megan.wright@enlink.com
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SOURCE EnLink Midstream, LLC