ONEOK, Inc. (OKE)

In the upside path, accelerated volume growth across Permian and Bakken gathering networks combines with prompt commercialization of the Bighorn plant expansion and rapid expansion of data center power supply agreements. Operating leverage expands net margins while capital spending moderates, driving substantial free cash flow expansion and rapid debt reduction toward Potential value at $80.59.

• Accelerated gathering and processing volume growth across core basins
• Bighorn processing capacity expansion commissioned ahead of schedule
• Expansion of data center power supply commitments beyond initial agreements
• Capital spending normalizes promptly toward recurring maintenance requirements