ONEOK, Inc. has announced the acquisition of the remaining 49.9 percent interest in Delaware G&P LLC from NGP XI Midstream Holdings, L.L.C. for a total consideration of $940 million. The transaction includes $530 million in cash and $410 million in ONEOK common stock.
Delaware G&P LLC, a joint venture in the Delaware Basin, owns and operates natural gas gathering and processing facilities in West Texas and New Mexico. With a total processing capacity exceeding 700 million cubic feet per day, the assets play a vital role in supporting regional energy infrastructure. Following the transaction’s close on 28 May 2025, ONEOK became the sole owner of the Delaware Basin joint venture.
ONEOK is a leading midstream service provider delivering energy products and services essential to a progressing global economy. The company operates approximately 60,000 miles of pipeline infrastructure, facilitating the gathering, processing, fractionation, transportation, storage and export of natural gas, natural gas liquids, refined products and crude oil. As one of North America’s largest integrated energy infrastructure companies, ONEOK continues to support domestic and international energy demands while advancing energy security and offering safe, reliable and responsible energy solutions.
For more information visit www.oneok.com
