ONEOK to Acquire Brazos Midstream Assets in Permian Basin for $4.425 Billion

Source Summary

ONEOK has signed an agreement to acquire Brazos Midstream's natural gas gathering and processing assets in the Permian Basin for approximately $4.425 billion in cash. The transaction is enabled by a new $9 billion minority equity investment from Apollo in ONEOK.

Why it matters

The acquisition expands ONEOK's midstream operations in the Permian Basin, a major U.S. oil and gas production region, while Apollo's substantial equity investment provides capital to fund the deal.

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