ONEOK Announces Appointment of Randy Lentz as Executive Vice President and Chief Operating Officer

by · The Cerbat Gem

On January 6, 2025, ONEOK, Inc. made a significant announcement regarding the appointment of Randy Lentz as their Executive Vice President and Chief Operating Officer. Lentz, aged 60, brings with him a wealth of experience, having served as the Chief Executive Officer of Medallion Midstream, LLC since 2010. With over 35 years in the midstream business, Lentz assumed his new role effective the same day as the announcement.

Medallion Midstream, LLC, a subsidiary of ONEOK following its acquisition in October 2024, will see Lentz reporting directly to Pierce H. Norton II, the President and Chief Executive Officer of ONEOK. To facilitate this transition, Lentz’s existing employment agreement with Medallion Operating Company, LLC has been terminated. As part of his new compensation package, Lentz received a one-time special award of restricted stock units valued at approximately $1.8 million.

The appointment of Lentz as Executive Vice President and Chief Operating Officer underscores ONEOK’s commitment to enhancing its leadership team with seasoned professionals. Lentz’s appointment was announced in a press release issued by ONEOK on January 6, 2025. The press release reveals that there are no undisclosed arrangements or relationships that led to Lentz’s recent appointment, emphasizing transparency and governance within the organization.

Additionally, ONEOK also appointed Sheridan C. Swords to the newly created role of Executive Vice President and Chief Commercial Officer. In this capacity, Swords will have oversight of the Natural Gas Pipelines segment in addition to his existing responsibilities.

Pierce H. Norton II, in his capacity as President and Chief Executive Officer of ONEOK, expressed enthusiasm about the appointments of Lentz and Swords. He highlighted their industry expertise and leadership as valuable assets for the company’s continued growth and strategic direction. Both Lentz and Swords will report directly to Norton.

ONEOK, Inc., a leading midstream operator in the energy sector, is known for providing crucial energy services through its extensive pipeline network spanning over 50,000 miles. The company’s operations include gathering, processing, transportation, and storage services for natural gas, natural gas liquids, refined products, and crude oil.

These executive leadership changes signal ONEOK’s ongoing commitment to strengthening its leadership team to navigate evolving market landscapes and drive sustained growth in the energy sector. Investors and industry observers will be keen on the strategic direction the company under the new leadership arrangements.

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

About ONEOK

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ONEOK, Inc engages in gathering, processing, fractionation, storage, transportation, and marketing of natural gas and natural gas liquids (NGL) in the United States. It operates through four segments: Natural Gas Gathering and Processing, Natural Gas Liquids, Natural Gas Pipelines, and Refined Products and Crude.

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