ONEOK, Inc. $(OKE)$ has 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. The transaction, which included $530 million in cash and $410 million in ONEOK common stock, was completed on May 28, 2025. With this acquisition, ONEOK now fully owns the Delaware Basin JV, which operates natural gas gathering and processing facilities in the Delaware Basin in West Texas and New Mexico, boasting a total processing capacity of over 700 million cubic feet per day. This move is part of ONEOK's strategy to expand its presence in the Permian Basin.
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