ONEOK Closes Its $4.425 Billion Brazos Midstream Purchase and More Than Doubles Midland Processing

The assets bring roughly 600,000 dedicated acres on fixed-fee contracts averaging more than 12 years and lift the company's Midland Basin capacity toward 2.3 billion cubic feet a day.

By Priya Raghavan

Oct 6, 2026 · 2 min read

ONEOK said after Tuesday's close that it has completed its acquisition of Brazos Midstream's Permian Midland Basin assets for approximately $4.425 billion in cash. The seller, backed by Morgan Stanley Energy Partners, confirmed the sale in its own release.

Discussion (0)

Loading comments…

Priya Raghavan

Corporate Insider Inc.

Priya Raghavan writes for Corporate Insider Inc.

CII Briefing

The 7am memo for people who run things

One email. The deals, the numbers and the decisions that will be discussed in your Monday meeting.