ENLC Overview

Appointment Announcement: BKV Corporation has appointed Dilanka Seimon as its first Chief Commercial Officer to enhance its commercial midstream, gas marketing, and new products teams, focusing on carbon capture and power demand growth.

Executive Background: Seimon brings over 20 years of experience in the energy sector, having held leadership roles at various companies, and is expected to drive strategic initiatives for BKV's growth in natural gas and carbon markets.

EnLink Midstream Acquisition: EnLink Midstream unitholders overwhelmingly approved Oneok's acquisition of the remaining publicly held common units, with 99.8% of votes in favor, leading to the transaction's expected closure on January 31.

Conversion of Units: Upon completion of the acquisition, each outstanding common unit of EnLink not owned by Oneok will be converted into 0.1412 shares of Oneok common stock, and trading of EnLink common units will cease on the New York Stock Exchange prior to market open on the same day.

Acquisition Approval: EnLink Midstream unitholders have overwhelmingly approved ONEOK's acquisition of the remaining publicly held common units, with approximately 99.8% voting in favor. The transaction is expected to close on January 31, 2025.

Stock Conversion Details: Upon completion of the acquisition, each outstanding common unit of EnLink not owned by ONEOK will be converted into 0.1412 shares of ONEOK common stock, and EnLink common units will cease trading on the NYSE prior to market opening on the closing date.

Market Performance: EnLink Midstream LLC and TELUS Corp. saw significant pre-market gains of 6.3% and 5.9%, respectively, while several other companies also posted increases; however, Vertiv Holdings LLC and Nebius Group N.V. experienced notable declines of over 15%.

Broader Market Trends: S&P 500 futures were down 2.36%, with declines in major indices both in the U.S. and overseas, including a drop in Brent crude oil and gold futures, as well as a decrease in Bitcoin value.

Acquisition Announcement: ONEOK, Inc. and EnLink Midstream, LLC have received recommendations from leading proxy advisory firms to proceed with ONEOK's acquisition of EnLink's remaining publicly held common units, set for a vote at the Special Meeting on January 30, 2025.

Voting and Approval Process: The acquisition requires approval from a majority of outstanding EnLink common units, and is expected to close shortly after the Special Meeting, pending customary closing conditions.

Acquisition Announcement: ONEOK, Inc. and EnLink Midstream, LLC have received recommendations from leading proxy advisory firms to proceed with ONEOK's acquisition of EnLink's remaining publicly held common units, set for a vote at the Special Meeting on January 30, 2025.

Voting and Approval Process: The acquisition requires approval from a majority of outstanding EnLink common units, and is expected to close shortly after the Special Meeting, pending customary closing conditions.