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Wednesday, September 2, 2026 · UTC
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ONEOK Stock Rallies on $4.4B Asset Acquisition and Debt Reduction

ONEOK shares rose 1.7% after announcing a $4.425 billion deal to acquire Brazos Midstream assets with no equity dilution.

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ONEOK stock rose 1.7% in morning trading after the company unveiled a deal to acquire Brazos Midstream's natural gas gathering and processing assets in the Permian Midland Basin for $4.425 billion in cash. [1] Pipeline giant Williams acquired Momentum Midstream and its Texas and Louisiana pipeline facilities for $5.5 billion. [2] ONEOK intends to apply $5 billion of the proceeds toward retiring existing debt, which is projected to bring its pro forma 2027 leverage ratio down to approximately 3.25 times debt-to-EBITDA. [3] The acquisition is funded through a $9 billion nonvoting minority equity investment from Apollo-managed funds, with no dilution to existing common shareholders. [4] The transaction is expected to more than double ONEOK's combined Midland Basin processing capacity to roughly 2.3 billion cubic feet per day, including plants currently under construction. [5] US natural gas production has more than doubled since 2006 and is projected to rise another 35% by 2050 to 150 billion cubic feet per day. [6]
What this stands on
  1. ONEOK stock rose 1.7% in morning trading after the company unveiled a deal to acquire Brazos Midstream's natural gas gathering and processing assets in the Permian Midland Basin for $4.425 billion in cash. · Investing.com
  2. Pipeline giant Williams acquired Momentum Midstream and its Texas and Louisiana pipeline facilities for $5.5 billion. · fortune.comUnited States
  3. ONEOK intends to apply $5 billion of the proceeds toward retiring existing debt, which is projected to bring its pro forma 2027 leverage ratio down to approximately 3.25 times debt-to-EBITDA. · Investing.com
  4. The acquisition is funded through a $9 billion nonvoting minority equity investment from Apollo-managed funds, with no dilution to existing common shareholders. · Investing.com
  5. The transaction is expected to more than double ONEOK's combined Midland Basin processing capacity to roughly 2.3 billion cubic feet per day, including plants currently under construction. · Investing.com
  6. US natural gas production has more than doubled since 2006 and is projected to rise another 35% by 2050 to 150 billion cubic feet per day. · fortune.comUnited States
The one we could place publishes from United States. 1 could not be placed by their address. None is an official body: that part stands on reporting, not on the underlying document or transcript.
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