ADDED
This initial phase will be predominantly focused on improving system efficiency and reliability on Guardian Pipeline; Received FERC approval (subject to a filed appeal) for the Bluestone Extended Supply Transportation ("BEST") agreement between Bluestone and Millennium, which will enable Millennium to establish a new supply lateral utilizing Bluestone s existing interconnects, creating a transportation path between Millennium and Tennessee Pipeline; Achieved investment grade rating with all three major credit rating agencies; and Published our fourth annual Corporate Sustainability Report.
New capital spending will continue to go through a rigorous review process to ensure that it is accretive and deployed to assets meeting our strategic criteria and expected returns.
We intend to leverage the scale and scope of our large asset platforms, our services, and our capabilities to increase efficiency across our portfolio and in the strategically situated market regions where we operate.
Expand Energy accounted for approximately 45% of our operating revenues for the year ended December 31, 2025.
Pipeline Segment Description Our Pipeline segment includes our interstate pipelines, intrastate pipelines, storage systems, gathering lateral pipelines and compression and surface facilities.
For the year ended December 31, 2025, revenue from the Pipeline segment accounted for approximately 55% of our consolidated revenue.
(b) The Michigan System is comprised of both intrastate pipeline and gathering lateral pipeline assets.
In 2025, the majority of the capacity, mileage, and revenue generated by the Michigan System were related to providing intrastate transportation services.
10 Business Updates During the year ended December 31, 2025, we completed key integration milestones for the DTM Interstate Transportation assets acquired in the Midwest Pipeline Acquisition, including opening a new regional office in Tulsa, Oklahoma, which will largely support these assets.
A full year of operations of the DTM Interstate Transportation assets contributed to growth of our Pipeline segment.
REMOVED
Army Corps of Engineers Clean Water Act Section 404 Nationwide Permit 12 NYSE New York Stock Exchange Ohio Utica Gathering A 20-mile gathering system, including compression and dehydration facilities, that gathers Utica shale natural gas from producer wells and delivers to a nearby processing plant ONEOK ONEOK, Inc., a publicly traded energy company engaged in the gathering, processing, storage, and transportation of natural gas, including through its ownership of ONEOK Partners Intermediate Limited Partnership and Border Midwestern Company OSHA The U.S.
On December 31, 2024, we closed on the Midwest Pipeline Acquisition of three FERC-regulated natural gas transmission pipelines.
See Note 16, "Acquisitions" to the Consolidated Financial Statements under Part II, Item 8 of this Form 10-K.
6 2024 Executive Summary During the year ended December 31, 2024, DT Midstream's accomplishments and business developments included: Attained Net Income Attributable to DT Midstream of $354 million; Declared total cash dividends of $2.94 per common share; Closed on the Midwest Pipeline Acquisition of three FERC-regulated natural gas transmission pipelines, Guardian, Midwestern and Viking, from ONEOK for a purchase price of $1.2 billion on December 31, 2024.
New capital spending will continue to go through a rigorous review process to ensure that it is accretive and deployed to assets serving high quality, low cost resources with proximity to strong demand centers, meeting our strategic criteria and expected returns.
We intend to leverage the scale and scope of our large asset platforms, our services, and our capabilities to increase efficiency across our portfolio and in the strategically situated natural gas basins in which we operate.
Expand Energy accounted for approximately 56% of our operating revenues for the year ended December 31, 2024.
8 Pipeline Segment Description Our Pipeline segment includes our interstate pipelines, intrastate pipelines, storage systems, gathering lateral pipelines including related treatment plants and compression and surface facilities.
On December 31, 2024, we closed on the Midwest Pipeline Acquisition of three FERC-regulated natural gas transmission pipelines.
See Note 16, "Acquisitions" to the Consolidated Financial Statements under Part II, Item 8 of this Form 10-K.