# ONEOK corporate acquisition and debt reduction

> Live situation record from CLSTR: https://clstr.news/situations/oneok-corporate-acquisition-and-debt-reduction
> Updated: 2026-09-15T00:00:00.000Z. Sources: 6. Developments: 2.

ONEOK has entered into an agreement to acquire Brazos Midstream’s natural gas gathering and processing assets in the Permian Midland Basin for $4.425 billion in cash. The acquisition is to be funded through a $9 billion nonvoting minority equity investment from Apollo-managed funds.

Following this announcement, ONEOK initiated a debt reduction strategy. The company announced pricing terms for cash tender offers to repurchase debt securities up to a maximum of $2 billion. As of September 14, 2026, sufficient valid offers were received to fulfill the full $2 billion tender amount, with settlement expected to occur on September 17, 2026. This move aims to reduce outstanding liabilities and interest expenses by targeting higher-interest bonds.

## Timeline

### 2026-09-15: ONEOK announces $2 billion debt repurchase via cash tender offers

ONEOK, Inc. is executing $2 billion in cash tender offers to repurchase debt securities, aiming to reduce its total liabilities and future interest expenses.

2 sources. https://clstr.news/cluster/oneok-announces-2-billion-debt-repurchase-via-cash-tender-offers

### 2026-08-31: ONEOK to acquire Brazos Midstream assets for $4.425 billion

ONEOK will acquire Brazos Midstream’s Permian Basin natural gas assets for $4.425 billion, funded by a $9 billion minority equity investment from Apollo.

4 sources. https://clstr.news/cluster/oneok-to-acquire-brazos-midstream-assets-for-4425-billion

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Cite as: ONEOK corporate acquisition and debt reduction. CLSTR, https://clstr.news/situations/oneok-corporate-acquisition-and-debt-reduction