Monday, 31 August, 2026
ONEOK Bets $4.43B on Apollo-Backed Permian Gas Surge
By TechShots Studio
U.S. pipeline operator ONEOK agreed to buy Brazos Midstream's Permian Midland Basin assets for $4.425 billion, more than doubling its regional natural gas processing capacity to 2.3 Bcf/d. Backed by a $9 billion equity investment from Apollo Global Management, ONEOK will fund the purchase and pay down $5 billion in existing debt, lowering leverage while capturing rising Permian production.