ONEOK, Inc. Integrates NGL, Gas, & Infrastructure–Could This Be the Ultimate Growth Formula?

ONEOK’s financial results for the second quarter of 2025 underscore a mixed but somewhat promising performance, characterized by both strategic accomplishments and challenges in handling market volatility. The company reported a significant increase in adjusted EBITDA, marked by a 12% rise from the previous quarter, attributed to efficient synergy capture and a robust supply-demand balance. This performance suggests the integration of assets is beginning to yield positive earnings, an important step forward for the company. However, ONEOK acknowledges the macroeconomic headwinds and the need to remain vigilant about market dynamics as they head into 2026.