ONEOK to Acquire Brazos Midstream's Permian Midland Basin Gathering and Processing Assets
August 30, 2026
ONEOK, Inc. has executed a definitive agreement to acquire Brazos Midstream’s Permian Midland Basin natural gas gathering and processing assets for $4.425 billion in cash. The deal will be supported by a concurrent $9 billion nonvoting minority equity investment from Apollo, with ONEOK also planning to use proceeds to reduce $5 billion of existing indebtedness.
- Buyers
- ONEOK, Inc., Funds and affiliates managed by Apollo
- Targets
- Brazos Midstream's Permian Midland Basin natural gas gathering and processing assets
- Sellers
- Brazos Midstream
- Industry
- Energy
- Location
- Oklahoma, United States
- Transaction Type
- Buyout
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