- ONEOK, Inc. has announced the acquisition of the remaining 49.9% interest in Delaware G&P LLC from NGP XI Midstream Holdings, L.L.C. for $940 million. - The acquisition was made up of $530 million in cash and $410 million in ONEOK common stock. - Delaware Basin JV owns natural gas gathering and processing facilities in the Delaware Basin located in West Texas and New Mexico. - The facilities have a total processing capacity of more than 700 million cubic feet per day. - Following the transaction's closure on May 28, 2025, ONEOK became the sole owner of Delaware Basin JV. - ONEOK is a leading midstream operator providing energy products and services essential for an advancing world. - The company operates a network of approximately 60,000 miles of pipelines transporting various energy products. - ONEOK is committed to meeting domestic and international energy demand while ensuring energy security and reliability. - The company is one of the largest integrated energy infrastructure companies in North America, headquartered in Tulsa, Oklahoma.

ONEOK Acquires Remaining Interest in Delaware Basin JV

News provided by ONEOK, Inc.

Jun 03, 2025, 16:15 ET

Acquisition Advances Permian Basin Growth Strategy

TULSA, Okla., June 3, 2025 /PRNewswire/ -- ONEOK, Inc. (NYSE: OKE) today announced the acquisition of the remaining 49.9% interest in Delaware G&P LLC (Delaware Basin JV) from NGP XI Midstream Holdings, L.L.C. for $940 million, consisting of $530 million in cash and $410 million in ONEOK common stock.

Delaware Basin JV owns natural gas gathering and processing facilities in the Delaware Basin in West Texas and New Mexico, with a total processing capacity of more than 700 million cubic feet per day. Following the close of the transaction on May 28, 2025, ONEOK became the sole owner of Delaware Basin JV.

At ONEOK (NYSE: OKE), we deliver energy products and services vital to an advancing world. We are a leading midstream operator that provides gathering, processing, fractionation, transportation, storage and marine export services. Through our approximately 60,000-mile pipeline network, we transport the natural gas, natural gas liquids (NGLs), refined products and crude oil that help meet domestic and international energy demand, contribute to energy security and provide safe, reliable and responsible energy solutions needed today and into the future. As one of the largest integrated energy infrastructure companies in North America, ONEOK is delivering energy that makes a difference in the lives of people in the U.S. and around the world.

ONEOK is an S&P 500 company headquartered in Tulsa, Oklahoma.

For information about ONEOK, visit the website: www.oneok.com. For the latest news about ONEOK, find us on LinkedIn, Facebook, X and Instagram.



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SOURCE ONEOK, Inc.