ONEOK agreed to acquire Brazos Midland assets; targets $104–$108
ONEOK agreed to acquire Brazos Midland Basin/Permian midstream assets. Apollo will take a minority equity stake, while ONEOK contributes its LLC; a Q4 close is planned and leverage-reduction targets through 2027. Analysts lifted price targets to $104–$108.
ONEOK, Inc. (NYSE:OKE) agreed to acquire Brazos Midland Basin/Permian midstream assets, with Apollo taking a minority equity stake and ONEOK contributing its LLC. A Q4 close is planned, and analysts lifted price targets into a $104—$108 range. The company also outlined a path to reduce leverage by 2027.