# ONEOK to acquire Permian Basin assets in $4.42B deal Deal to be financed by a $9B investment from Apollo Global Management. - **Source:** [Breaking News on Seeking Alpha](https://brifing.si/source/9a596115-e1cc-45e7-b5ba-070be9ea2998) - **Published:** 2026-08-31 - **Topic:** [Business](https://brifing.si/c/business) - **Original article:** - **On Brifing:** https://brifing.si/s/9534bcb2-3736-4d4a-b0bd-322ae7b3ce9f ## Major acquisition deal ONEOK has agreed to acquire Brazos Midstream's natural gas gathering and processing assets in the Permian Midland Basin for $4.425 billion in cash. This deal will significantly expand ONEOK's presence in the Permian Basin. Funds and affiliates managed by Apollo Global Management will finance the transaction with a $9 billion non-voting minority equity investment. ## Significance of Permian Basin The Permian Basin is one of the most productive oil and natural gas regions in the U.S. The area has seen intense competition among energy companies in recent years. ONEOK's acquisition will strengthen its position in the energy market. Brazos Midstream's assets include critical infrastructure in the region. ## Apollo's role Apollo Global Management is providing $9 billion in funding for this acquisition. This investment represents one of Apollo's strategic moves in the energy sector. It supports ONEOK's growth plans while giving Apollo a stronger foothold in the industry. The deal is seen as a win-win for both companies. ## ONEOK's growth strategy ONEOK has been capitalizing on growth opportunities in the energy sector. The company aims to expand its market share by acquiring strategic assets in regions like the Permian Basin. This acquisition is part of ONEOK's long-term growth plan. The company focuses on energy infrastructure investments to boost profitability. ## Brazos Midstream's assets Brazos Midstream owns significant natural gas gathering and processing assets in the Permian Midland Basin. These assets facilitate efficient transportation of energy production in the region. ONEOK's purchase will impact Brazos Midstream's operations. The deal provides important liquidity for Brazos Midstream's shareholders. ## Energy sector trends Consolidation in the energy sector has been increasing in recent years. Large companies prefer growth through strategic asset acquisitions. ONEOK's move reflects this industry trend. Investments in productive regions like the Permian Basin enhance long-term competitiveness. This deal signals continued consolidation in the sector. ## Financing details The acquisition will be completed with $4.425 billion in cash. Apollo Global Management's $9 billion investment will increase ONEOK's financial flexibility. This funding could also support other growth projects. The financing structure allows ONEOK to grow without increasing debt. The deal exemplifies large-scale financing in the energy sector. ## Industry implications This acquisition could alter competitive dynamics in the energy sector. ONEOK's expanded presence in the Permian Basin may prompt similar moves by other companies. The deal highlights the importance of energy infrastructure investments. Industry consolidation is expected to continue. This transaction may foreshadow future acquisitions in energy markets. ## Sources covering this story - https://seekingalpha.com/news/4638083-oneok-to-buy-brazos-midstreams-permian-basin-assets-in-4_42b-deal?utm_source=feed_news_all&utm_medium=referral&feed_item_type=news — --- _Summary written by Brifing from the original reporting. Copyright in the original article belongs to its publisher; read the full piece at the link above._