ONEOK Completes Acquisition of Brazos Midstream’s Permian Midland Basin Assets
Key Highlights
- ➤Acquisition completed for approximately $4.425 billion in cash
- ➤Midland Basin processing capacity more than doubles to approximately 2.3 Bcf/d
- ➤Assets cover approximately 600,000 dedicated acres under long-term fixed-fee contracts
- ➤Contracts have weighted-average remaining terms exceeding 12 years
Expert Statements
Pierce H. Norton II, President and CEO of ONEOK
“The completion of this acquisition further strengthens our Permian Midland Basin position with a premier gathering and processing platform supported by high-quality acreage, long-term contracts and some of the basin's leading producers.”
Pierce H. Norton II, President and CEO of ONEOK
“These assets provide significant opportunities for future growth and enhance our ability to connect increasing natural gas and NGL production across ONEOK's integrated system.”
TULSA, Okla., Oct. 06, 2026 (GLOBE NEWSWIRE) -- ONEOK, Inc. (NYSE: OKE) today announced it has completed the acquisition of Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets for total cash consideration of approximately $4.425 billion.
“The completion of this acquisition further strengthens our Permian Midland Basin position with a premier gathering and processing platform supported by high-quality acreage, long-term contracts and some of the basin's leading producers,” said Pierce H. Norton II, ONEOK president and CEO. “These assets provide significant opportunities for future growth and enhance our ability to connect increasing natural gas and NGL production across ONEOK's integrated system.”
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