Form 8-K · Current Report · Filed 2026-08-31
ONEOK Announces Acquisition of Brazos Midstream's Permian Assets for $4.425 Billion
ONEOK, Inc. has announced the acquisition of Brazos Midstream's Permian Midland Basin assets for $4.425 billion, funded by a $9 billion minority equity investment from Apollo. The acquisition is expected to be immediately accretive to earnings and free cash flow per share, and will expand ONEOK's scale in the Permian Midland Basin, add long-term contracted growth, and enhance connectivity across the natural gas and NGL value chain. The transaction also includes the extinguishment of $5 billion of ONEOK's existing debt, accelerating deleveraging to 3.25 times debt-to-EBITDA. The acquisition is expected to close in the fourth quarter of 2026.
- Filer
- Oneok Inc. OKE · NYSE
- Filed
- Accession
- 0001193125-26-377023
- CIK
- 0001039684
- Signal
- High impactEnergy
- Source
- Official filing on sec.gov ↗
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About Oneok Inc.
Oneok Inc., a prominent energy company, plays a crucial role in the United States' natural gas and natural gas liquids (NGL) industries. As an integral midstream service provider, Oneok focuses on gathering, processing, transportation, and storage of natural gas, as well as the fractionation and distribution of NGL products. Its operations span extensive and strategically positioned infrastructure, particularly in prolific production areas like the Rocky Mountains, Mid-Continent, and Permian Basin regions. These operations allow Oneok to efficiently manage the supply chain of hydrocarbons from the extraction points to end-users, ensuring a reliable energy supply. The company's comprehensive service offerings cater to a diverse clientele, including utilities, refiners, and chemical companies. Established in 1906, Oneok has significantly contributed to the energy landscape by enhancing the value chain of natural gas and fostering the transition towards cleaner energy sources. The company's dedication to safety, operational excellence, and sustainability underscores its commitment to the evolving energy market.
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