ONEOK completes acquisition of assets in Midland Basin from Brazos Midstream

Tulsa-based ONEOK said Tuesday it completed its acquisition of Brazos Midstream’s natural gas gathering and processing assets in Midland Basin for about $4.425 billion.  The deal more than doubles ONEOK’s Midland Basin processing capacity to about 2.3 billion cubic feet per day, including facilities under construction.

Pierce H. Norton II, president and CEO of ONEOK, said, “The completion of this acquisition further strengthens our Midland Basin position with a premier gathering and processing platform supported by high-quality acreage, long-term contracts and some of the basin’s leading producers.”