Oneok acquires remaining stake in Delaware Basin JV, expanding storage capacity

From Yahoo Finance: 2025-06-24 21:33:00

ONEOK, Inc. (NYSE:OKE) has acquired the remaining 49.9% interest in its Delaware Basin JV for $940 million, making it the sole owner of the joint venture with over 700 million cubic feet per day processing capacity. The company is actively expanding its natural gas storage capacity in Oklahoma, Texas, and Louisiana.

ONEOK, Inc. (NYSE:OKE) is strategically positioned to benefit from increasing natural gas demand, with ongoing negotiations for power demand related to data centers. The company recently completed an Oklahoma natural gas storage expansion project and has a storage hub expansion project in Louisiana underway, increasing total storage capacity by 8.5 Bcf.

ONEOK, Inc. (NYSE:OKE) is a leading energy infrastructure company in the US, with a diverse portfolio of NGLs, natural gas, refined products, and crude oil assets. The company is focused on expanding its storage capacity in key regions to meet growing demand and strengthen its position in the market.

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Read more: Oneok Expands its Footprint in the Delaware Basin