ONEOK Buys Remaining Stake In Delaware Basin JV -- June 4, 2025

Reuters headline: 

ONEOK buys remaining stake in Delaware Basin JV for $940 million

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As of now, there are no publicly available reports confirming that ONEOK has acquired the remaining stake in a Delaware Basin joint venture for $940 million. However, ONEOK has been actively expanding its presence in the Permian Basin through several significant acquisitions.

In October 2024, ONEOK completed a $2.6 billion acquisition of Medallion Midstream, the largest privately held crude oil gathering and transportation system in the Permian Basin’s Midland region. This acquisition included over 1,200 miles of crude oil gathering pipelines with a capacity of 1.3 million barrels per day and approximately 1.5 million barrels of crude oil storage .

Additionally, ONEOK acquired a 43% interest in EnLink Midstream from Global Infrastructure Partners, further strengthening its integrated gas and NGL platform in the region .

These strategic moves are part of ONEOK’s broader effort to enhance its midstream infrastructure and service offerings in the Permian Basin. While there is no specific information about a $940 million acquisition of a remaining stake in a Delaware Basin joint venture, ONEOK’s recent activities indicate a strong commitment to expanding its operations in this prolific energy-producing region.

For the most current and detailed information, it’s advisable to monitor ONEOK’s official press releases and financial disclosures.