ONEOK to Acquire Brazos Midstream Natural Gas Gathering and Processing Assets for $4.4B in Cash

ONEOK Inc. has agreed to acquire Fort Worth-based Brazos Midstream’s Permian Midland Basin natural gas gathering and processing assets for $4.425 billion in cash.

The Tulsa-based midstream company said the deal will expand its position in the Midland Basin and more than double its processing capacity there to about 2.3 billion cubic feet per day, including plants now under construction.

Brazos Midstream, headquartered in Fort Worth, is the largest privately held midstream platform in the Midland Basin.

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