ONEOK announced its agreement to purchase the natural gas gathering and processing assets of Brazos Midstream located in the Permian Midland Basin for $4.43 billion. This acquisition is poised to enhance ONEOK's footprint within one of America's most significant oil and gas hubs.
The transaction involves Brazos Midstream's extensive infrastructure, which is critical for transporting and processing natural gas extracted from the prolific Permian Basin. By integrating these assets, ONEOK aims to strengthen its midstream services and capitalize on the continued production growth in the region.