EnLink Midstream’s CEO to Depart Upon Acquisition by ONEOK

EnLink Midstream, LLC (NYSE: ENLC) recently disclosed in an 8-K SEC Filing that Jesse Arenivas, the current President, Chief Executive Officer, and Board of Directors member of EnLink Midstream Manager, LLC, will be stepping down from EnLink Midstream, including positions at the Manager, upon the completion of ONEOK, Inc.’s acquisition of the remaining publicly held common units of ENLC. This transition is set to take effect at the closing of the acquisition, expected in the first quarter of 2025.

Arenivas’ departure will be considered a “Qualifying Termination” in accordance with the terms outlined in the change in control agreement previously established between Arenivas and an ENLC subsidiary. Additionally, the move aligns with the conditions of the outstanding restricted incentive units, including performance-based units, granted to Arenivas under ENLC’s 2014 Long-Term Incentive Plan. Importantly, his decision to leave was not influenced by any disputes with the Manager or ENLC.

In compliance with the Securities Exchange Act of 1934, EnLink Midstream, LLC has confirmed the filing of this report on January 10, 2025. Benjamin D. Lamb, the Executive Vice President and Chief Financial Officer, signed the document on behalf of the company.

This change indicates a significant transition within one of the key leadership positions at EnLink Midstream as the company progresses through the final stages of acquisition by ONEOK, Inc. Investors will be watching closely as the organization navigates this leadership change and finalizes the transition process.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read EnLink Midstream’s 8K filing here.

About EnLink Midstream

EnLink Midstream, LLC provides midstream energy services in the United States. The company operates through Permian, Louisiana, Oklahoma, North Texas, and Corporate segments. It is involved in gathering, compressing, treating, processing, transporting, storing, and selling natural gas; fractionating, transporting, storing, and selling natural gas liquids; and gathering, transporting, stabilizing, storing, trans-loading, and selling crude oil and condensate, as well as providing brine disposal services.