ONEOK Acquires Permian Midland Basin Assets from Brazos Midstream for $4.425 Billion
ONEOK has agreed to purchase natural gas gathering and processing assets in the Permian Midland Basin from Brazos Midstream for $4.425 billion in cash. The transaction will be funded through a non-voting minority equity investment of up to $9 billion provided by funds managed by Apollo Global Management. The deal is expected to expand ONEOK's footprint and infrastructure capabilities within the Permian Basin, one of North America’s most active oil and gas regions. This acquisition aligns with ONEOK's strategy to grow its midstream operations through strategic investments in high-growth areas.
