NewsMV
OKE is in focus after a $4.425bn definitive agreement to acquire Brazos Midstream's natural gas gathering and processing assets in the Permian Midland Basin, backed by a $9bn nonvoting minority equity commitment from Apollo.
The Apollo investment is scheduled to close in the first half of September; the asset acquisition itself is expected to follow in the fourth quarter of 2026, subject to regulatory approvals.
The numbers The acquired footprint covers roughly 700 miles of gathering infrastructure and 1.2 billion cubic feet per day of processing capacity across seven Permian Midland Basin counties.
About 600,000 dedicated acres sit under long-term fixed-fee contracts with a weighted average remaining term of more than 12 years. Fourteen rigs are currently active on the acreage.
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