ONEOK Shares Dip 0.55% with $210M Volume Ranked 439th; Eiger Express Pipeline Aims to Boost LNG Exports and Midstream Infrastructure

On August 25, 2025, ONEOK (OKE) closed with a 0.55% decline, trading volume of $210 million ranked it 439th on the day. The company announced a new 450-mile, 42-inch Eiger Express Pipeline to transport 2.5 billion cubic feet per day of natural gas from the Permian Basin to the Gulf Coast. The project, part of the Matterhorn joint venture, will be 70% owned by the JV, with ONEOK holding a 25.5% stake through its 15% direct ownership and 10% via the JV. The pipeline, expected to begin operations in mid-2028, aims to address growing demand for LNG exports and electricity generation, with 10+ year firm transportation agreements secured.

The strategic initiative underscores ONEOK’s role in expanding midstream infrastructure to connect prolific Permian production to high-growth markets. CEO Pierce Norton emphasized the project’s alignment with energy security goals and international demand trends. The venture’s completion hinges on regulatory approvals, and its long-term viability depends on sustained gas prices and export demand. With ONEOK’s ownership structure and the pipeline’s capacity to leverage existing processing facilities, the project could bolster the company’s revenue streams over the next decade.

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